195,139 Shares in Gildan Activewear, Inc. $GIL Acquired by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD purchased a new stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 195,139 shares of the textile maker’s stock, valued at approximately $10,069,000. Gildan Activewear makes up approximately 0.5% of Polymer Capital Management HK LTD’s investment portfolio, making the stock its 27th biggest holding.

Several other hedge funds also recently added to or reduced their stakes in GIL. Islay Capital Management LLC acquired a new stake in Gildan Activewear during the fourth quarter worth approximately $25,000. Larson Financial Group LLC grew its position in shares of Gildan Activewear by 3,516.7% in the 4th quarter. Larson Financial Group LLC now owns 434 shares of the textile maker’s stock valued at $27,000 after buying an additional 422 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Gildan Activewear by 161.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 555 shares of the textile maker’s stock valued at $27,000 after buying an additional 343 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Gildan Activewear by 14,833.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 448 shares of the textile maker’s stock worth $28,000 after acquiring an additional 445 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in Gildan Activewear by 867.9% in the third quarter. Brown Brothers Harriman & Co. now owns 513 shares of the textile maker’s stock valued at $30,000 after acquiring an additional 460 shares during the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. UBS Group upped their price objective on shares of Gildan Activewear from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Friday, July 31st. TD Securities reissued a “buy” rating on shares of Gildan Activewear in a report on Tuesday, June 16th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $77.00 target price on shares of Gildan Activewear in a research report on Friday, May 1st. Scotiabank restated a “sector outperform” rating and set a $67.00 price target (up from $65.00) on shares of Gildan Activewear in a research note on Friday, July 31st. Finally, Zacks Research raised Gildan Activewear from a “strong sell” rating to a “hold” rating in a research report on Friday, May 1st. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Gildan Activewear currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.00.

Gildan Activewear Trading Up 0.2%

Shares of Gildan Activewear stock opened at $56.30 on Monday. Gildan Activewear, Inc. has a 1 year low of $46.55 and a 1 year high of $73.69. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.01 and a current ratio of 1.93. The company has a market capitalization of $10.43 billion, a P/E ratio of 108.27 and a beta of 1.11. The company’s fifty day moving average is $53.80 and its two-hundred day moving average is $58.57.

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

Gildan Activewear Dividend Announcement

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

Gildan Activewear Profile

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.