Compass Ion Advisors LLC Purchases New Holdings in Gildan Activewear Inc. (NYSE:GIL)

Compass Ion Advisors LLC purchased a new stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,179 shares of the textile maker’s stock, valued at approximately $244,000.

A number of other hedge funds also recently modified their holdings of GIL. Cooke & Bieler LP boosted its position in shares of Gildan Activewear by 2.7% during the 2nd quarter. Cooke & Bieler LP now owns 10,252,785 shares of the textile maker’s stock valued at $388,786,000 after acquiring an additional 271,273 shares in the last quarter. Cardinal Capital Management Inc. boosted its holdings in Gildan Activewear by 1.5% during the second quarter. Cardinal Capital Management Inc. now owns 2,907,144 shares of the textile maker’s stock valued at $110,197,000 after purchasing an additional 42,094 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Gildan Activewear by 14.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker’s stock valued at $97,290,000 after purchasing an additional 324,304 shares during the period. EdgePoint Investment Group Inc. raised its holdings in shares of Gildan Activewear by 28.0% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker’s stock worth $70,696,000 after buying an additional 407,113 shares in the last quarter. Finally, Anson Funds Management LP lifted its position in shares of Gildan Activewear by 13.8% during the 1st quarter. Anson Funds Management LP now owns 1,791,705 shares of the textile maker’s stock worth $66,521,000 after buying an additional 216,705 shares during the period. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Trading Up 0.3 %

GIL stock opened at $47.54 on Monday. 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 $48.01. The company has a market cap of $7.88 billion, a P/E ratio of 16.06, a PEG ratio of 1.81 and a beta of 1.43. The business has a fifty day moving average of $45.26 and a 200-day moving average of $40.10.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Thursday, August 1st. The textile maker reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The company had revenue of $862.20 million for the quarter, compared to the consensus estimate of $851.10 million. During the same period in the prior year, the company posted $0.63 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. As a group, equities research analysts expect that Gildan Activewear Inc. will post 2.92 EPS for the current year.

Gildan Activewear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Thursday, August 22nd. Gildan Activewear’s dividend payout ratio is presently 27.70%.

Analysts Set New Price Targets

Several research firms have issued reports on GIL. Royal Bank of Canada increased their price objective on 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 shares of Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. TD Securities boosted their price target on shares of Gildan Activewear from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Stifel Nicolaus raised their price objective on shares of Gildan Activewear from $51.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Gildan Activewear presently has an average rating of “Moderate Buy” and a consensus price target of $45.68.

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.