3,282 Shares in Gildan Activewear Inc. (NYSE:GIL) Bought by Mather Group LLC.

Mather Group LLC. bought a new stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,282 shares of the textile maker’s stock, valued at approximately $122,000.

Several other hedge funds and other institutional investors also recently modified their holdings of GIL. Janney Montgomery Scott LLC increased its position in Gildan Activewear by 5.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 21,820 shares of the textile maker’s stock valued at $611,000 after acquiring an additional 1,055 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Gildan Activewear by 60.4% in the third quarter. PNC Financial Services Group Inc. now owns 4,213 shares of the textile maker’s stock worth $118,000 after purchasing an additional 1,586 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in Gildan Activewear in the 3rd quarter valued at about $525,000. Envestnet Asset Management Inc. increased its stake in Gildan Activewear by 20.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 215,698 shares of the textile maker’s stock valued at $6,042,000 after buying an additional 37,144 shares during the period. Finally, Hsbc Holdings PLC raised its position in shares of Gildan Activewear by 0.9% during the 3rd quarter. Hsbc Holdings PLC now owns 377,854 shares of the textile maker’s stock worth $10,586,000 after buying an additional 3,504 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Stock Performance

Shares of GIL stock opened at $37.79 on Friday. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 1.44 and a beta of 1.43. Gildan Activewear Inc. has a 1-year low of $26.99 and a 1-year high of $39.07. The company has a current ratio of 2.38, a quick ratio of 0.92 and a debt-to-equity ratio of 0.48. The stock’s fifty day simple moving average is $36.00 and its 200-day simple moving average is $34.88.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Wednesday, May 1st. The textile maker reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. The company had revenue of $695.80 million for the quarter, compared to analysts’ expectations of $692.94 million. Gildan Activewear had a return on equity of 24.00% and a net margin of 16.14%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 EPS. On average, sell-side analysts predict that Gildan Activewear Inc. will post 2.92 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Thursday, May 23rd were given a $0.205 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $0.82 dividend on an annualized basis and a yield of 2.17%. Gildan Activewear’s payout ratio is 27.70%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GIL. Citigroup increased their price target on Gildan Activewear from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. TD Securities boosted their price target on shares of Gildan Activewear from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Royal Bank of Canada restated an “outperform” rating and set a $41.00 price objective on shares of Gildan Activewear in a research report on Monday, April 8th. Canaccord Genuity Group boosted their target price on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, Canaccord Genuity Group raised their target price on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Gildan Activewear has an average rating of “Moderate Buy” and an average price target of $41.95.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.