JLB & Associates Inc. Acquires New Position in Gildan Activewear, Inc. $GIL

JLB & Associates Inc. acquired a new stake in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) during the 2nd quarter, Holdings Channel reports. The fund acquired 27,440 shares of the textile maker’s stock, valued at approximately $1,416,000.

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

Gildan Activewear Stock Performance

NYSE:GIL opened at $55.78 on Wednesday. The stock’s fifty day moving average is $53.98 and its 200 day moving average is $58.77. Gildan Activewear, Inc. has a fifty-two week low of $46.55 and a fifty-two week high of $73.69. The firm has a market capitalization of $10.33 billion, a PE ratio of 107.27 and a beta of 1.11. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.01 and a current ratio of 1.93.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Thursday, July 30th. The textile maker reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.17. Gildan Activewear had a net margin of 1.28% and a return on equity of 21.03%. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the previous year, the company earned $0.97 EPS. The firm’s revenue for the quarter was up 72.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Gildan Activewear, Inc. will post 4.67 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.249 per share. This represents a $1.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, August 20th. Gildan Activewear’s dividend payout ratio (DPR) is presently 190.38%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $77.00 target price on shares of Gildan Activewear in a report on Friday, May 1st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $82.00 target price (up from $78.00) on shares of Gildan Activewear in a research note on Friday, July 31st. Scotia lifted their price target on shares of Gildan Activewear from $65.00 to $67.00 and gave the company a “sector outperform” rating in a report on Friday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Gildan Activewear in a research note on Thursday, August 13th. Finally, Stifel Nicolaus set a $83.00 price objective on shares of Gildan Activewear and gave the company a “buy” rating 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.00.

About Gildan Activewear

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.