Swiss National Bank Acquires 37,600 Shares of Gildan Activewear Inc (NYSE:GIL)

Swiss National Bank raised its holdings in Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 5.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 762,700 shares of the textile maker’s stock after buying an additional 37,600 shares during the quarter. Swiss National Bank owned about 0.37% of Gildan Activewear worth $29,514,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GIL. Zions Bancorporation N.A. acquired a new position in Gildan Activewear in the first quarter valued at approximately $26,000. Dean Investment Associates LLC increased its position in shares of Gildan Activewear by 4.2% in the 1st quarter. Dean Investment Associates LLC now owns 24,315 shares of the textile maker’s stock worth $875,000 after purchasing an additional 973 shares during the last quarter. MML Investors Services LLC increased its position in shares of Gildan Activewear by 5.3% in the 1st quarter. MML Investors Services LLC now owns 19,242 shares of the textile maker’s stock worth $692,000 after purchasing an additional 976 shares during the last quarter. BB&T Corp increased its position in shares of Gildan Activewear by 4.6% in the 2nd quarter. BB&T Corp now owns 24,626 shares of the textile maker’s stock worth $953,000 after purchasing an additional 1,089 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. bought a new stake in shares of Gildan Activewear in the 1st quarter worth about $56,000. Hedge funds and other institutional investors own 68.73% of the company’s stock.

Several research firms have recently weighed in on GIL. Desjardins raised shares of Gildan Activewear from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada boosted their target price on shares of Gildan Activewear from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Zacks Investment Research raised shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Monday. ValuEngine downgraded shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, TD Securities raised shares of Gildan Activewear from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Gildan Activewear currently has a consensus rating of “Buy” and an average target price of $34.00.

NYSE GIL opened at $36.50 on Thursday. Gildan Activewear Inc has a one year low of $28.11 and a one year high of $40.40. The company has a 50-day simple moving average of $38.50 and a 200-day simple moving average of $37.07. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.68 and a current ratio of 4.33. The firm has a market capitalization of $7.43 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 1.29 and a beta of 0.83.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.02. The firm had revenue of $801.60 million for the quarter, compared to analyst estimates of $793.91 million. Gildan Activewear had a net margin of 10.14% and a return on equity of 18.48%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. Equities analysts forecast that Gildan Activewear Inc will post 1.98 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Thursday, August 15th will be paid a dividend of $0.236 per share. This represents a $0.94 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Wednesday, August 14th. Gildan Activewear’s payout ratio is 29.03%.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.

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Institutional Ownership by Quarter for Gildan Activewear (NYSE:GIL)

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