Gildan Activewear Inc (NYSE:GIL) Position Boosted by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co raised its holdings in shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,163 shares of the textile maker’s stock after acquiring an additional 679 shares during the quarter. Gildan Activewear makes up 1.6% of W.G. Shaheen & Associates DBA Whitney & Co’s investment portfolio, making the stock its 21st largest holding. W.G. Shaheen & Associates DBA Whitney & Co owned 0.09% of Gildan Activewear worth $7,239,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GIL. Pzena Investment Management LLC grew its stake in Gildan Activewear by 87.2% during the 1st quarter. Pzena Investment Management LLC now owns 3,718,142 shares of the textile maker’s stock valued at $133,742,000 after acquiring an additional 1,732,215 shares in the last quarter. FMR LLC grew its stake in Gildan Activewear by 19.3% during the 1st quarter. FMR LLC now owns 9,830,993 shares of the textile maker’s stock valued at $353,485,000 after acquiring an additional 1,589,389 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Gildan Activewear by 89.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,823,941 shares of the textile maker’s stock valued at $101,577,000 after buying an additional 1,334,579 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in shares of Gildan Activewear during the 1st quarter valued at about $12,376,000. Finally, Toronto Dominion Bank lifted its holdings in shares of Gildan Activewear by 20.7% during the 1st quarter. Toronto Dominion Bank now owns 1,295,118 shares of the textile maker’s stock valued at $46,616,000 after buying an additional 222,430 shares during the last quarter. 68.73% of the stock is currently owned by institutional investors.

Several equities research analysts have recently issued reports on GIL shares. Desjardins upgraded Gildan Activewear from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. ValuEngine lowered Gildan Activewear from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. TD Securities upgraded Gildan Activewear from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Zacks Investment Research lowered Gildan Activewear from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Citigroup lifted their price target on Gildan Activewear from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Gildan Activewear has a consensus rating of “Buy” and an average price target of $34.00.

Shares of Gildan Activewear stock traded down $0.67 during trading on Friday, hitting $35.76. 17,319 shares of the stock traded hands, compared to its average volume of 425,357. The stock has a market cap of $7.37 billion, a P/E ratio of 19.26, a PEG ratio of 1.29 and a beta of 0.83. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.68 and a current ratio of 4.33. Gildan Activewear Inc has a twelve month low of $28.11 and a twelve month high of $40.40. The company has a fifty day moving average price of $38.44 and a two-hundred day moving average price of $37.08.

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

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.236 per share. The ex-dividend date is Wednesday, August 14th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.64%. Gildan Activewear’s dividend payout ratio (DPR) is presently 29.03%.

Gildan Activewear Profile

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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