Primecap Management Co. CA Lowers Stock Holdings in Gildan Activewear Inc. (NYSE:GIL)

Primecap Management Co. CA cut its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,000 shares of the textile maker’s stock after selling 2,000 shares during the period. Primecap Management Co. CA owned about 0.06% of Gildan Activewear worth $3,678,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Cooke & Bieler LP increased its stake in Gildan Activewear by 2.7% during the 2nd quarter. Cooke & Bieler LP now owns 10,252,785 shares of the textile maker’s stock worth $388,786,000 after buying an additional 271,273 shares during the period. Browning West LP grew its stake in shares of Gildan Activewear by 30.0% in the fourth quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock worth $285,653,000 after acquiring an additional 1,994,900 shares in the last quarter. Cardinal Capital Management Inc. increased its position in shares of Gildan Activewear by 1.5% during the second quarter. Cardinal Capital Management Inc. now owns 2,907,144 shares of the textile maker’s stock worth $110,197,000 after acquiring an additional 42,094 shares during the period. Norges Bank acquired a new stake in shares of Gildan Activewear in the fourth quarter valued at $70,917,000. Finally, Anson Funds Management LP boosted its holdings in Gildan Activewear by 13.8% in the first quarter. Anson Funds Management LP now owns 1,791,705 shares of the textile maker’s stock valued at $66,521,000 after purchasing an additional 216,705 shares during the period. Institutional investors and hedge funds own 82.83% of the company’s stock.

Analyst Ratings Changes

GIL has been the topic of several recent research reports. BMO Capital Markets upped their price target on Gildan Activewear from $43.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Royal Bank of Canada raised their target price on shares of Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating and boosted their price target for the stock from $39.00 to $51.00 in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

Gildan Activewear Trading Up 1.1 %

Shares of Gildan Activewear stock opened at $46.08 on Thursday. The company has a current ratio of 2.35, a quick ratio of 0.97 and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $42.16 and a 200-day simple moving average of $38.33. The stock has a market cap of $7.63 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 1.71 and a beta of 1.43. Gildan Activewear Inc. has a 12-month low of $26.99 and a 12-month high of $46.66.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The firm had revenue of $862.20 million during the quarter, compared to analysts’ expectations of $851.10 million. During the same period in the previous year, the company earned $0.63 earnings per share. Gildan Activewear’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities analysts forecast that Gildan Activewear Inc. will post 2.92 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Thursday, August 22nd. Gildan Activewear’s dividend payout ratio (DPR) is 27.70%.

Gildan Activewear Profile

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.