Gildan Activewear, Inc. $GIL Stake Increased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC increased its holdings in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 14.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 613,324 shares of the textile maker’s stock after buying an additional 75,530 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Gildan Activewear were worth $31,648,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Assetmark Inc. increased its stake in Gildan Activewear by 10,432.0% in the 4th quarter. Assetmark Inc. now owns 60,138 shares of the textile maker’s stock valued at $3,756,000 after buying an additional 59,567 shares during the period. Barington Companies Management LLC acquired a new position in shares of Gildan Activewear in the fourth quarter worth $15,941,000. The Manufacturers Life Insurance Company raised its holdings in shares of Gildan Activewear by 15.7% during the first quarter. The Manufacturers Life Insurance Company now owns 6,706,078 shares of the textile maker’s stock worth $373,122,000 after acquiring an additional 909,001 shares in the last quarter. Triasima Portfolio Management inc. acquired a new stake in Gildan Activewear during the fourth quarter valued at $4,353,000. Finally, VELA Investment Management LLC purchased a new position in Gildan Activewear in the fourth quarter valued at about $3,104,000. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GIL shares. Royal Bank Of Canada reiterated an “outperform” rating and set a $82.00 price target (up from $78.00) on shares of Gildan Activewear in a report on Friday, July 31st. Weiss Ratings cut shares of Gildan Activewear from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Citigroup restated a “neutral” rating on shares of Gildan Activewear in a report on Tuesday, August 4th. Zacks Research upgraded shares of Gildan Activewear from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. Finally, Scotiabank reaffirmed a “sector outperform” rating and issued a $67.00 price target (up from $65.00) on shares of Gildan Activewear in a research report on Friday, July 31st. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Gildan Activewear currently has an average rating of “Moderate Buy” and an average target price of $79.07.

Gildan Activewear Trading Up 1.8%

Shares of GIL opened at $58.55 on Wednesday. The stock’s 50-day moving average price is $54.12 and its 200 day moving average price is $59.13. The company has a quick ratio of 1.01, a current ratio of 1.93 and a debt-to-equity ratio of 1.15. Gildan Activewear, Inc. has a 12-month low of $46.00 and a 12-month high of $73.69. The firm has a market capitalization of $10.84 billion, a price-to-earnings ratio of 112.59 and a beta of 1.11.

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

Gildan Activewear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.249 per share. The ex-dividend date is Thursday, August 20th. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. Gildan Activewear’s payout ratio is currently 192.31%.

Gildan Activewear 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.