Paloma Partners Management Co raised its stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 67.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,100 shares of the textile maker’s stock after buying an additional 6,074 shares during the period. Paloma Partners Management Co’s holdings in Gildan Activewear were worth $408,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in GIL. US Bancorp DE boosted its position in Gildan Activewear by 24.2% in the first quarter. US Bancorp DE now owns 3,718 shares of the textile maker’s stock valued at $101,000 after buying an additional 725 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Gildan Activewear by 43.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,968 shares of the textile maker’s stock valued at $107,000 after buying an additional 1,198 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Gildan Activewear during the first quarter valued at $222,000. BB&T Corp purchased a new position in Gildan Activewear during the first quarter valued at $270,000. Finally, Atlantic Trust Group LLC purchased a new position in Gildan Activewear during the first quarter valued at $312,000. Hedge funds and other institutional investors own 77.19% of the company’s stock.
Gildan Activewear, Inc. (NYSE:GIL) opened at 29.99 on Monday. The company’s 50-day moving average price is $30.59 and its 200 day moving average price is $27.74. The stock has a market capitalization of $6.75 billion, a P/E ratio of 19.04 and a beta of 0.72. Gildan Activewear, Inc. has a 52 week low of $23.55 and a 52 week high of $31.83.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Thursday, August 3rd. The textile maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $715.40 million for the quarter, compared to analyst estimates of $753.85 million. Gildan Activewear had a net margin of 14.16% and a return on equity of 18.65%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.41 EPS. Equities research analysts expect that Gildan Activewear, Inc. will post $1.69 EPS for the current fiscal year.
Several research firms have recently issued reports on GIL. Zacks Investment Research lowered Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. Canaccord Genuity set a $32.00 price target on Gildan Activewear and gave the stock a “buy” rating in a research note on Friday, July 7th. TD Securities reissued a “buy” rating and set a $31.00 price target on shares of Gildan Activewear in a research note on Thursday, April 27th. CIBC raised Gildan Activewear from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, June 28th. Finally, Royal Bank Of Canada lowered Gildan Activewear from an “outperform” rating to a “sector perform” rating and set a $31.00 price target for the company. in a research note on Tuesday, July 11th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $35.14.
Gildan Activewear Company Profile
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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