Gildan Activewear, Inc. $GIL Shares Bought by VELA Investment Management LLC

VELA Investment Management LLC raised its position in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 42.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 107,941 shares of the textile maker’s stock after buying an additional 32,171 shares during the period. Gildan Activewear comprises 1.2% of VELA Investment Management LLC’s investment portfolio, making the stock its 20th biggest position. VELA Investment Management LLC owned approximately 0.06% of Gildan Activewear worth $5,570,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GIL. Islay Capital Management LLC acquired a new stake in shares of Gildan Activewear during the 4th quarter valued at about $25,000. Smartleaf Asset Management LLC raised its holdings in Gildan Activewear by 161.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 555 shares of the textile maker’s stock worth $27,000 after purchasing an additional 343 shares during the period. Larson Financial Group LLC boosted its position in Gildan Activewear by 3,516.7% during the fourth quarter. Larson Financial Group LLC now owns 434 shares of the textile maker’s stock worth $27,000 after purchasing an additional 422 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Gildan Activewear by 14,833.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 448 shares of the textile maker’s stock worth $28,000 after purchasing an additional 445 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in Gildan Activewear by 867.9% in the third quarter. Brown Brothers Harriman & Co. now owns 513 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 460 shares during the period. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Stock Up 0.0%

GIL stock opened at $53.42 on Monday. The company has a current ratio of 1.93, a quick ratio of 1.01 and a debt-to-equity ratio of 1.15. The firm has a 50-day moving average of $53.71 and a two-hundred day moving average of $57.31. Gildan Activewear, Inc. has a 12 month low of $46.55 and a 12 month high of $73.69. The company has a market cap of $9.89 billion, a price-to-earnings ratio of 102.73 and a beta of 1.08.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Thursday, July 30th. The textile maker reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.17. Gildan Activewear had a return on equity of 21.03% and a net margin of 1.28%.The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the previous year, the firm posted $0.97 EPS. The business’s revenue for the quarter was up 72.3% compared to the same quarter last year. As a group, analysts forecast that Gildan Activewear, Inc. will post 4.67 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Thursday, August 20th will be issued a $0.249 dividend. This represents a $1.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Thursday, August 20th. Gildan Activewear’s dividend payout ratio is presently 192.31%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GIL shares. Weiss Ratings restated a “hold (c)” rating on shares of Gildan Activewear in a research report on Thursday, August 13th. TD Securities reissued a “buy” rating on shares of Gildan Activewear in a research note on Tuesday, June 16th. Citigroup reissued a “neutral” rating on shares of Gildan Activewear in a report on Tuesday, August 4th. Stifel Nicolaus set a $83.00 price objective on shares of Gildan Activewear and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Scotiabank reaffirmed a “sector outperform” rating and set a $67.00 price objective (up from $65.00) on shares of Gildan Activewear in a report on Friday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Gildan Activewear currently has a consensus rating of “Moderate Buy” and an average price target of $80.00.

Gildan Activewear Company Profile

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.