Forsta AP Fonden Makes New Investment in Gildan Activewear Inc. (NYSE:GIL)

Forsta AP Fonden purchased a new stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 39,400 shares of the textile maker’s stock, valued at approximately $1,494,000.

Several other large investors have also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its position in Gildan Activewear by 16.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock valued at $66,000 after purchasing an additional 274 shares during the period. Orion Portfolio Solutions LLC raised its holdings in shares of Gildan Activewear by 1.5% in the 1st quarter. Orion Portfolio Solutions LLC now owns 35,893 shares of the textile maker’s stock valued at $1,333,000 after buying an additional 535 shares during the period. Assenagon Asset Management S.A. lifted its stake in Gildan Activewear by 11.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 7,156 shares of the textile maker’s stock worth $271,000 after acquiring an additional 747 shares in the last quarter. Addenda Capital Inc. boosted its holdings in Gildan Activewear by 0.4% during the 1st quarter. Addenda Capital Inc. now owns 212,701 shares of the textile maker’s stock valued at $7,898,000 after acquiring an additional 800 shares during the period. Finally, UniSuper Management Pty Ltd grew its position in Gildan Activewear by 69.2% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the textile maker’s stock valued at $82,000 after acquiring an additional 900 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. 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 research note on Friday, August 2nd. Finally, BMO Capital Markets upped their price objective on Gildan Activewear from $43.00 to $47.00 and gave the stock an “outperform” rating in a research 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Gildan Activewear Stock Up 1.3 %

Shares of NYSE GIL opened at $45.57 on Tuesday. The business has a 50-day moving average of $41.88 and a two-hundred day moving average of $38.20. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 1.71 and a beta of 1.43. Gildan Activewear Inc. has a 1 year low of $26.99 and a 1 year high of $45.71. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, August 1st. The textile maker reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.03. The firm had revenue of $862.20 million during the quarter, compared to analysts’ expectations of $851.10 million. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 earnings per share. On average, analysts forecast 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, September 16th. Investors of record on Thursday, August 22nd were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Thursday, August 22nd. Gildan Activewear’s dividend payout ratio (DPR) is 27.70%.

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.