1,070,678 Shares in Gildan Activewear, Inc. $GIL Acquired by Cibc World Market Inc.

Cibc World Market Inc. purchased a new position in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,070,678 shares of the textile maker’s stock, valued at approximately $55,152,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Islay Capital Management LLC bought a new position in shares of Gildan Activewear during the 4th quarter worth approximately $25,000. Larson Financial Group LLC boosted its stake in Gildan Activewear by 3,516.7% during the fourth quarter. Larson Financial Group LLC now owns 434 shares of the textile maker’s stock worth $27,000 after acquiring an additional 422 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Gildan Activewear by 14,833.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 448 shares of the textile maker’s stock worth $28,000 after purchasing an additional 445 shares during the period. Brown Brothers Harriman & Co. grew its holdings in Gildan Activewear by 867.9% in the third quarter. Brown Brothers Harriman & Co. now owns 513 shares of the textile maker’s stock worth $30,000 after purchasing an additional 460 shares during the period. Finally, CIBC Private Wealth Group LLC grew its holdings in Gildan Activewear by 169.0% in the third quarter. CIBC Private Wealth Group LLC now owns 538 shares of the textile maker’s stock worth $31,000 after purchasing an additional 338 shares during the period. Institutional investors own 82.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GIL shares. Stifel Nicolaus set a $83.00 price objective on shares of Gildan Activewear and gave the company a “buy” rating in a report on Friday, July 31st. TD Securities restated a “buy” rating on shares of Gildan Activewear in a research note on Tuesday, June 16th. Zacks Research raised Gildan Activewear from a “strong sell” rating to a “hold” rating in a research report on Friday, May 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gildan Activewear in a research note on Thursday, August 13th. Finally, UBS Group increased their price target on Gildan Activewear from $110.00 to $111.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Gildan Activewear has an average rating of “Moderate Buy” and a consensus target price of $80.00.

Gildan Activewear Stock Performance

Shares of GIL stock opened at $56.30 on Monday. The company has a current ratio of 1.93, a quick ratio of 1.01 and a debt-to-equity ratio of 1.15. The firm has a fifty day simple moving average of $53.80 and a two-hundred day simple moving average of $58.57. Gildan Activewear, Inc. has a 12 month low of $46.55 and a 12 month high of $73.69. The firm has a market capitalization of $10.43 billion, a PE ratio of 108.27 and a beta of 1.11.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, July 30th. The textile maker reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.17. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.61 billion. Gildan Activewear had a net margin of 1.28% and a return on equity of 21.03%. The business’s quarterly revenue was up 72.3% compared to the same quarter last year. During the same period last year, the firm earned $0.97 earnings per share. Analysts forecast that Gildan Activewear, Inc. will post 4.67 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Thursday, August 20th will be given a $0.249 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $1.00 annualized dividend and a yield of 1.8%. Gildan Activewear’s dividend payout ratio (DPR) is presently 192.31%.

Gildan Activewear Company Profile

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.