SYSTM Wealth Solutions LLC Increases Stock Position in Gildan Activewear Inc. (NYSE:GIL)

SYSTM Wealth Solutions LLC increased its position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 33.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,709 shares of the textile maker’s stock after purchasing an additional 674 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Gildan Activewear were worth $103,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GIL. Norges Bank purchased a new position in Gildan Activewear in the fourth quarter worth $70,917,000. Browning West LP boosted its holdings in shares of Gildan Activewear by 30.0% in the 4th quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock worth $285,653,000 after buying an additional 1,994,900 shares during the last quarter. Intact Investment Management Inc. boosted its holdings in shares of Gildan Activewear by 204.8% in the 2nd quarter. Intact Investment Management Inc. now owns 881,100 shares of the textile maker’s stock worth $33,416,000 after buying an additional 591,980 shares during the last quarter. National Bank of Canada FI grew its position in Gildan Activewear by 43.8% during the first quarter. National Bank of Canada FI now owns 1,762,761 shares of the textile maker’s stock valued at $65,451,000 after buying an additional 537,215 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in Gildan Activewear by 31.5% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,573,695 shares of the textile maker’s stock worth $59,674,000 after buying an additional 377,135 shares during the last quarter. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Stock Up 0.5 %

GIL stock opened at $46.31 on Friday. The stock has a 50-day simple moving average of $42.30 and a two-hundred day simple moving average of $38.39. Gildan Activewear Inc. has a twelve month low of $26.99 and a twelve month high of $46.68. The firm has a market capitalization of $7.67 billion, a PE ratio of 15.65, a PEG ratio of 1.71 and a beta of 1.43. The company has a quick ratio of 0.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.55.

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

Gildan Activewear Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 22nd were given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend was Thursday, August 22nd. Gildan Activewear’s dividend payout ratio (DPR) is 27.70%.

Analyst Upgrades and Downgrades

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

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.