US Bancorp DE Acquires 22,024 Shares of Gildan Activewear, Inc. (GIL)
US Bancorp DE raised its stake in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 592.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,742 shares of the textile maker’s stock after buying an additional 22,024 shares during the period. US Bancorp DE’s holdings in Gildan Activewear were worth $791,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in GIL. Aperio Group LLC raised its position in Gildan Activewear by 42.5% in the second quarter. Aperio Group LLC now owns 130,045 shares of the textile maker’s stock worth $3,996,000 after buying an additional 38,809 shares during the last quarter. Mn Services Vermogensbeheer B.V. purchased a new position in Gildan Activewear during the second quarter worth $1,147,000. Chevy Chase Trust Holdings Inc. purchased a new position in Gildan Activewear during the second quarter worth $209,000. CHICAGO TRUST Co NA purchased a new position in Gildan Activewear during the second quarter worth $334,000. Finally, Lawson Kroeker Investment Management Inc. NE purchased a new position in Gildan Activewear during the second quarter worth $8,683,000. Institutional investors own 77.19% of the company’s stock.
Shares of Gildan Activewear, Inc. (NYSE:GIL) traded down 0.13% during trading on Friday, hitting $30.13. 382,658 shares of the company were exchanged. Gildan Activewear, Inc. has a 12 month low of $23.55 and a 12 month high of $31.83. The firm has a market capitalization of $6.76 billion, a PE ratio of 18.24 and a beta of 0.72. The firm’s 50-day moving average price is $30.46 and its 200 day moving average price is $27.98.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Thursday, August 3rd. The textile maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Gildan Activewear had a net margin of 14.16% and a return on equity of 18.65%. The firm had revenue of $715.40 million for the quarter, compared to analysts’ expectations of $753.85 million. During the same quarter last year, the company earned $0.41 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts expect that Gildan Activewear, Inc. will post $1.70 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Thursday, August 17th will be paid a $0.094 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $0.38 dividend on an annualized basis and a yield of 1.25%. Gildan Activewear’s dividend payout ratio is currently 22.42%.
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A number of equities analysts have weighed in on GIL shares. Zacks Investment Research upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Wednesday, May 31st. TD Securities reiterated a “buy” rating and issued a $31.00 price target on shares of Gildan Activewear in a research report on Thursday, April 27th. Canaccord Genuity set a $32.00 price target on shares of Gildan Activewear and gave the stock a “buy” rating in a research report on Friday, July 7th. BMO Capital Markets reiterated a “buy” rating and issued a $34.00 price target (up from $32.00) on shares of Gildan Activewear in a research report on Friday, August 4th. Finally, TheStreet lowered shares of Gildan Activewear from a “b-” rating to a “c” rating in a research report on Wednesday, May 3rd. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $35.14.
Gildan Activewear Company Profile
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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