Kennedy Capital Management LLC Boosts Stock Holdings in Gildan Activewear Inc. (NYSE:GIL)

Kennedy Capital Management LLC lifted its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 269,156 shares of the textile maker’s stock after buying an additional 6,102 shares during the period. Kennedy Capital Management LLC owned approximately 0.16% of Gildan Activewear worth $9,994,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GIL. CWM LLC lifted its position in Gildan Activewear by 86.5% in the fourth quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 498 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in shares of Gildan Activewear by 1.5% in the first quarter. Orion Portfolio Solutions LLC now owns 35,893 shares of the textile maker’s stock worth $1,333,000 after buying an additional 535 shares during the period. Addenda Capital Inc. raised 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 buying an additional 800 shares during the last quarter. UniSuper Management Pty Ltd boosted its position in Gildan Activewear by 69.2% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the textile maker’s stock valued at $82,000 after buying an additional 900 shares during the period. Finally, Verdence Capital Advisors LLC grew its holdings in Gildan Activewear by 9.1% in the 1st quarter. Verdence Capital Advisors LLC now owns 12,543 shares of the textile maker’s stock worth $466,000 after acquiring an additional 1,049 shares during the last quarter. Institutional investors own 82.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group increased their target price on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $41.00 price objective on shares of Gildan Activewear in a report on Monday, April 8th. Canaccord Genuity Group lifted their price objective on Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Stifel Nicolaus decreased their target price on Gildan Activewear from $39.00 to $36.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.95.

Gildan Activewear Stock Up 0.9 %

Shares of GIL stock traded up $0.35 during mid-day trading on Tuesday, reaching $40.35. 538,532 shares of the company’s stock traded hands, compared to its average volume of 760,310. The company has a quick ratio of 0.92, a current ratio of 2.38 and a debt-to-equity ratio of 0.48. The company’s 50-day moving average price is $38.18 and its 200-day moving average price is $35.89. The company has a market cap of $6.69 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.52 and a beta of 1.43. Gildan Activewear Inc. has a 12 month low of $26.99 and a 12 month high of $40.59.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. Gildan Activewear had a net margin of 16.14% and a return on equity of 24.00%. The business had revenue of $695.80 million for the quarter, compared to analyst estimates of $692.94 million. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Gildan Activewear’s quarterly revenue was down 1.0% on a year-over-year basis. On average, equities analysts expect that Gildan Activewear Inc. will post 2.92 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Thursday, May 23rd were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Wednesday, May 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.