APG Asset Management N.V. Buys 10,800 Shares of Gildan Activewear Inc. (NYSE:GIL)

APG Asset Management N.V. boosted its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 154.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,788 shares of the textile maker’s stock after purchasing an additional 10,800 shares during the period. APG Asset Management N.V.’s holdings in Gildan Activewear were worth $629,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its holdings in shares of Gildan Activewear by 332.7% during the second quarter. Toronto Dominion Bank now owns 344,666 shares of the textile maker’s stock worth $13,070,000 after buying an additional 265,020 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Gildan Activewear by 183.1% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,523 shares of the textile maker’s stock worth $892,000 after purchasing an additional 15,215 shares in the last quarter. 1832 Asset Management L.P. raised its position in Gildan Activewear by 5.7% in the second quarter. 1832 Asset Management L.P. now owns 151,585 shares of the textile maker’s stock valued at $5,748,000 after purchasing an additional 8,217 shares during the last quarter. Sei Investments Co. raised its position in Gildan Activewear by 497.4% in the second quarter. Sei Investments Co. now owns 182,153 shares of the textile maker’s stock valued at $6,907,000 after purchasing an additional 151,663 shares during the last quarter. Finally, Bridges Investment Management Inc. acquired a new stake in shares of Gildan Activewear during the second quarter valued at about $1,425,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GIL. Stifel Nicolaus raised Gildan Activewear from a “hold” rating to a “buy” rating and upped their price objective for the company from $39.00 to $51.00 in a research note on Friday, August 2nd. BMO Capital Markets upped their price target on shares of Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada lifted their price target on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Four investment 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, the company has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Gildan Activewear Price Performance

Shares of NYSE GIL opened at $46.94 on Wednesday. The company has a market capitalization of $7.78 billion, a PE ratio of 15.86, a P/E/G ratio of 1.77 and a beta of 1.43. The company has a quick ratio of 0.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. Gildan Activewear Inc. has a twelve month low of $27.24 and a twelve month high of $47.75. The firm has a fifty day simple moving average of $43.33 and a 200 day simple moving average of $39.06.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.03. The firm had revenue of $862.20 million during the quarter, compared to analyst estimates of $851.10 million. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the company posted $0.63 EPS. On average, sell-side analysts forecast that Gildan Activewear Inc. will post 2.92 EPS for the current year.

Gildan Activewear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 22nd were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 1.75%. The ex-dividend date was Thursday, August 22nd. Gildan Activewear’s dividend payout ratio (DPR) is presently 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.