Renaissance Technologies LLC Purchases 91,200 Shares of Gildan Activewear, Inc. (GIL)
Renaissance Technologies LLC boosted its stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 200.0% during the first quarter, Holdings Channel reports. The fund owned 136,800 shares of the textile maker’s stock after buying an additional 91,200 shares during the period. Renaissance Technologies LLC’s holdings in Gildan Activewear were worth $3,699,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of GIL. Pembroke Management LTD boosted its position in Gildan Activewear by 13.5% in the first quarter. Pembroke Management LTD now owns 1,332,230 shares of the textile maker’s stock valued at $47,867,000 after buying an additional 158,200 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Gildan Activewear by 6.1% in the first quarter. Canada Pension Plan Investment Board now owns 221,200 shares of the textile maker’s stock worth $5,959,000 after buying an additional 12,672 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Gildan Activewear by 73.7% in the first quarter. Wells Fargo & Company MN now owns 105,479 shares of the textile maker’s stock worth $2,853,000 after buying an additional 44,747 shares during the last quarter. BB&T Corp bought a new position in shares of Gildan Activewear during the first quarter worth approximately $270,000. Finally, AMF Pensionsforsakring AB boosted its position in shares of Gildan Activewear by 3.3% in the first quarter. AMF Pensionsforsakring AB now owns 260,968 shares of the textile maker’s stock worth $7,031,000 after buying an additional 8,230 shares during the last quarter. Hedge funds and other institutional investors own 77.19% of the company’s stock.
Shares of Gildan Activewear, Inc. (NYSE:GIL) traded down 0.55% during mid-day trading on Wednesday, hitting $30.83. The stock had a trading volume of 150,446 shares. The firm has a 50 day moving average price of $30.53 and a 200-day moving average price of $27.79. Gildan Activewear, Inc. has a 12 month low of $23.55 and a 12 month high of $31.83. The stock has a market cap of $6.94 billion, a P/E ratio of 19.57 and a beta of 0.72.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Thursday, August 3rd. The textile maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. The firm had revenue of $715.40 million for the quarter, compared to analyst estimates of $753.85 million. Gildan Activewear had a return on equity of 18.65% and a net margin of 14.16%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 EPS. On average, equities research analysts forecast that Gildan Activewear, Inc. will post $1.70 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Thursday, August 17th will be given a dividend of $0.094 per share. The ex-dividend date is Tuesday, August 15th. This represents a $0.38 annualized dividend and a dividend yield of 1.21%. Gildan Activewear’s dividend payout ratio (DPR) is presently 22.42%.
A number of brokerages recently commented on GIL. Zacks Investment Research cut Gildan Activewear from a “buy” rating to a “hold” rating in a research report on Friday, June 16th. Canaccord Genuity set a $32.00 price target on Gildan Activewear and gave the stock a “buy” rating in a research report on Friday, July 7th. TD Securities restated a “buy” rating and issued a $31.00 price target on shares of Gildan Activewear in a research report on Thursday, April 27th. CIBC upgraded Gildan Activewear from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, June 28th. Finally, Royal Bank Of Canada cut Gildan Activewear from an “outperform” rating to a “sector perform” rating and set a $31.00 price target on the stock. in a research report on Tuesday, July 11th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Gildan Activewear presently has a consensus rating of “Hold” and a consensus price target of $35.14.
About Gildan Activewear
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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