Gildan Activewear (GIL) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in Gildan Activewear (NYSE:GIL) (TSE:GIL) by 6.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,296 shares of the textile maker’s stock after selling 3,142 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Gildan Activewear were worth $1,250,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Gildan Activewear by 2.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 636,682 shares of the textile maker’s stock worth $18,362,000 after acquiring an additional 17,394 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Gildan Activewear by 1.1% in the first quarter. Daiwa Securities Group Inc. now owns 227,369 shares of the textile maker’s stock worth $6,569,000 after acquiring an additional 2,384 shares during the last quarter. Grandeur Peak Global Advisors LLC boosted its position in shares of Gildan Activewear by 8.7% in the fourth quarter. Grandeur Peak Global Advisors LLC now owns 340,888 shares of the textile maker’s stock worth $11,004,000 after acquiring an additional 27,423 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of Gildan Activewear by 67.2% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 10,700 shares of the textile maker’s stock worth $347,000 after acquiring an additional 4,300 shares during the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in shares of Gildan Activewear by 25.8% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 884,900 shares of the textile maker’s stock worth $35,936,000 after acquiring an additional 181,700 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on the stock. TD Securities raised shares of Gildan Activewear from a “hold” rating to a “buy” rating and raised their target price for the stock from $33.00 to $35.00 in a research report on Thursday, May 3rd. DA Davidson restated a “hold” rating on shares of Gildan Activewear in a report on Monday, May 7th. Royal Bank of Canada set a $32.00 price target on shares of Gildan Activewear and gave the company a “hold” rating in a report on Wednesday, February 14th. Zacks Investment Research lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Friday, May 4th. Finally, ValuEngine lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Tuesday, February 27th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Gildan Activewear presently has a consensus rating of “Hold” and an average target price of $33.89.

NYSE GIL opened at $28.82 on Friday. Gildan Activewear has a one year low of $28.57 and a one year high of $28.94. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 5.06. The company has a market capitalization of $6.16 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 1.36 and a beta of 0.86.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Wednesday, May 2nd. The textile maker reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.01). Gildan Activewear had a net margin of 12.69% and a return on equity of 18.06%. The business had revenue of $647.30 million during the quarter, compared to analysts’ expectations of $654.39 million. During the same quarter in the previous year, the business posted $0.39 EPS. The company’s quarterly revenue was down 2.7% on a year-over-year basis. equities research analysts predict that Gildan Activewear will post 1.87 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 11th. Stockholders of record on Thursday, May 17th will be paid a dividend of $0.112 per share. The ex-dividend date is Wednesday, May 16th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.55%. Gildan Activewear’s dividend payout ratio is currently 26.16%.

Gildan Activewear announced that its board has initiated a share repurchase plan on Thursday, February 22nd that permits the company to buyback 10,960,000 outstanding shares. This buyback authorization permits the textile maker to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells a range of apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.

Institutional Ownership by Quarter for Gildan Activewear (NYSE:GIL)

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