Mather Group LLC. Acquires Shares of 3,282 Gildan Activewear Inc. (NYSE:GIL)

Mather Group LLC. bought a new stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the 1st quarter, Holdings Channel reports. The institutional investor bought 3,282 shares of the textile maker’s stock, valued at approximately $122,000.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Gildan Activewear in the 4th quarter valued at approximately $70,917,000. Browning West LP boosted its position in shares of 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 in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Gildan Activewear in the 4th quarter valued at $34,456,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Gildan Activewear by 130.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 925,970 shares of the textile maker’s stock valued at $25,952,000 after buying an additional 524,691 shares in the last quarter. Finally, Strs Ohio raised its stake in Gildan Activewear by 443.6% during the 4th quarter. Strs Ohio now owns 588,202 shares of the textile maker’s stock worth $19,547,000 after buying an additional 480,000 shares during the period. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Price Performance

Shares of NYSE GIL opened at $37.79 on Friday. Gildan Activewear Inc. has a twelve month low of $26.99 and a twelve month high of $39.07. The company has a market cap of $6.37 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 1.44 and a beta of 1.43. The business’s 50 day moving average price is $36.00 and its two-hundred day moving average price is $34.88. The company has a quick ratio of 0.92, a current ratio of 2.38 and a debt-to-equity ratio of 0.48.

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

Gildan Activewear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Thursday, May 23rd were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $0.82 annualized dividend and a yield of 2.17%. Gildan Activewear’s payout ratio is currently 27.70%.

Analyst Ratings Changes

Several brokerages have issued reports on GIL. Royal Bank of Canada restated an “outperform” rating and issued a $41.00 price target on shares of Gildan Activewear in a report on Monday, April 8th. Citigroup increased their target price on Gildan Activewear from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. TD Securities lifted their price target on shares of Gildan Activewear from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Canaccord Genuity Group increased their price objective on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Canaccord Genuity Group upped their target price on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.95.

Gildan Activewear 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.