Envestnet Portfolio Solutions Inc. Raises Stock Position in Gildan Activewear Inc. (NYSE:GIL)

Envestnet Portfolio Solutions Inc. boosted its position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 9.9% in the second quarter, HoldingsChannel reports. The fund owned 27,857 shares of the textile maker’s stock after purchasing an additional 2,512 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Gildan Activewear were worth $1,056,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. CWM LLC boosted its holdings in Gildan Activewear by 86.5% in the fourth quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock worth $35,000 after acquiring an additional 498 shares in the last quarter. Natixis purchased a new position in shares of Gildan Activewear in the 1st quarter valued at approximately $51,000. EverSource Wealth Advisors LLC boosted its stake in Gildan Activewear by 16.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock worth $66,000 after purchasing an additional 274 shares in the last quarter. UniSuper Management Pty Ltd grew 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 worth $82,000 after purchasing an additional 900 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in Gildan Activewear during the 1st quarter valued at approximately $84,000. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Royal Bank of Canada lifted their price objective on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. 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 research report on Friday, August 2nd. Canaccord Genuity Group lifted their target price on Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Canaccord Genuity Group upped their target price on Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Stifel Nicolaus raised shares of Gildan Activewear from a “hold” rating to a “buy” rating and raised their price target for the stock from $39.00 to $51.00 in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Gildan Activewear currently has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Gildan Activewear Stock Up 0.6 %

GIL stock opened at $42.19 on Monday. Gildan Activewear Inc. has a one year low of $26.99 and a one year high of $42.36. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.92 and a current ratio of 2.38. The firm’s fifty day moving average is $39.29 and its 200 day moving average is $36.76. The firm has a market cap of $6.99 billion, a PE ratio of 14.25, a P/E/G ratio of 1.56 and a beta of 1.43.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, August 1st. The textile maker reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Gildan Activewear had a return on equity of 24.62% and a net margin of 13.01%. The firm had revenue of $862.20 million for the quarter, compared to analysts’ expectations of $851.10 million. During the same period last year, the firm earned $0.63 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. On average, research analysts forecast that Gildan Activewear Inc. will post 2.95 EPS for the current year.

Gildan Activewear Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Thursday, August 22nd. Gildan Activewear’s payout ratio is 27.70%.

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.