APG Asset Management N.V. Has $629,000 Stake in Gildan Activewear Inc. (NYSE:GIL)

APG Asset Management N.V. raised its position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 154.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,788 shares of the textile maker’s stock after acquiring an additional 10,800 shares during the quarter. APG Asset Management N.V.’s holdings in Gildan Activewear were worth $629,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Cooke & Bieler LP increased its holdings in shares of 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 acquiring an additional 271,273 shares during the last quarter. Browning West LP boosted its position in Gildan Activewear by 30.0% during the fourth quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock worth $285,653,000 after purchasing an additional 1,994,900 shares during the period. Cardinal Capital Management Inc. increased its holdings in shares of Gildan Activewear by 1.5% in the second quarter. Cardinal Capital Management Inc. now owns 2,907,144 shares of the textile maker’s stock valued at $110,197,000 after purchasing an additional 42,094 shares during the last quarter. Anson Funds Management LP raised its position in shares of 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. Finally, National Bank of Canada FI lifted its stake in shares of Gildan Activewear by 43.8% during the 1st quarter. National Bank of Canada FI now owns 1,762,761 shares of the textile maker’s stock worth $65,451,000 after buying an additional 537,215 shares during the last quarter. Institutional investors own 82.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Stifel Nicolaus upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating and upped their price target for the company from $39.00 to $51.00 in a research note on Friday, August 2nd. Royal Bank of Canada upped their target price on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, BMO Capital Markets lifted 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. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Gildan Activewear currently has an average rating of “Moderate Buy” and an average price target of $44.50.

Gildan Activewear Price Performance

Gildan Activewear stock opened at $46.94 on Wednesday. The firm has a market cap of $7.78 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 1.77 and a beta of 1.43. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97. The stock’s fifty day moving average price is $43.33 and its two-hundred day moving average price is $39.06. Gildan Activewear Inc. has a one year low of $27.24 and a one year high of $47.75.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The company had revenue of $862.20 million for the quarter, compared to analysts’ expectations of $851.10 million. During the same quarter last year, the business earned $0.63 earnings per share. Gildan Activewear’s revenue was up 2.6% on a year-over-year basis. As a group, research analysts expect 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. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend was Thursday, August 22nd. Gildan Activewear’s dividend payout ratio (DPR) is presently 27.70%.

Gildan Activewear Company 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.