11,111,694 Shares in Gildan Activewear, Inc. $GIL Purchased by Jupiter Topco LLC

Jupiter Topco LLC acquired a new stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 11,111,694 shares of the textile maker’s stock, valued at approximately $573,363,000. Jupiter Topco LLC owned approximately 0.06% of Gildan Activewear as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of GIL. AQR Capital Management LLC grew its position in shares of Gildan Activewear by 49.3% in the 1st quarter. AQR Capital Management LLC now owns 13,209 shares of the textile maker’s stock worth $584,000 after acquiring an additional 4,360 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Gildan Activewear by 40.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,760,253 shares of the textile maker’s stock worth $77,838,000 after purchasing an additional 503,359 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Gildan Activewear by 2.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,585 shares of the textile maker’s stock worth $8,251,000 after purchasing an additional 4,714 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Gildan Activewear by 2.1% in the second quarter. Cetera Investment Advisers now owns 12,510 shares of the textile maker’s stock worth $616,000 after purchasing an additional 259 shares during the period. Finally, Prudential Financial Inc. acquired a new position in Gildan Activewear in the second quarter worth $317,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Stock Performance

Shares of NYSE GIL opened at $54.60 on Wednesday. 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 stock has a 50 day simple moving average of $53.74 and a 200-day simple moving average of $58.39. The company has a market cap of $10.11 billion, a PE ratio of 105.00 and a beta of 1.11. Gildan Activewear, Inc. has a 12-month low of $46.55 and a 12-month high of $73.69.

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

Gildan Activewear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Thursday, August 20th will be paid a $0.249 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. Gildan Activewear’s dividend payout ratio is presently 192.31%.

Analyst Ratings Changes

A number of brokerages have weighed in on GIL. Citigroup reissued a “neutral” rating on shares of Gildan Activewear in a report on Tuesday, August 4th. Zacks Research raised shares of Gildan Activewear from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $77.00 price objective on shares of Gildan Activewear in a research report on Friday, May 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gildan Activewear in a research report on Thursday, August 13th. Finally, Scotiabank reiterated a “sector outperform” rating and set a $67.00 price objective (up from $65.00) on shares of Gildan Activewear in a research note on Friday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Gildan Activewear presently has an average rating of “Moderate Buy” and a consensus price target 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.