Zurcher Kantonalbank Zurich Cantonalbank Acquires 65,428 Shares of Gildan Activewear Inc. (NYSE:GIL)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 92.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 135,933 shares of the textile maker’s stock after acquiring an additional 65,428 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Gildan Activewear were worth $6,405,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fortis Group Advisors LLC grew its holdings in shares of Gildan Activewear by 3.9% in the third quarter. Fortis Group Advisors LLC now owns 6,601 shares of the textile maker’s stock worth $311,000 after purchasing an additional 246 shares during the last quarter. EverSource Wealth Advisors LLC grew 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 acquiring an additional 274 shares in the last quarter. Aristides Capital LLC increased its position in shares of Gildan Activewear by 4.3% during the second quarter. Aristides Capital LLC now owns 7,617 shares of the textile maker’s stock worth $289,000 after acquiring an additional 314 shares during the period. CWM LLC raised its stake in shares of Gildan Activewear by 23.0% during the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock valued at $80,000 after acquiring an additional 318 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Gildan Activewear by 96.1% in the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 397 shares during the period. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Gildan Activewear Stock Up 0.1 %

GIL stock opened at $49.62 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. The firm’s fifty day simple moving average is $48.15 and its 200-day simple moving average is $43.03. Gildan Activewear Inc. has a 12 month low of $30.68 and a 12 month high of $50.58. The company has a market capitalization of $7.64 billion, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 1.85 and a beta of 1.44.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, hitting the consensus estimate of $0.85. The company had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm earned $0.74 EPS. As a group, equities research analysts forecast that Gildan Activewear Inc. will post 2.97 earnings per share for the current year.

Gildan Activewear Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be given a $0.152 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.61 annualized dividend and a yield of 1.23%. Gildan Activewear’s dividend payout ratio is presently 32.41%.

Analyst Ratings Changes

Several equities analysts have recently commented on GIL shares. Stifel Nicolaus raised their price target on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Citigroup upped their target price on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Securities boosted their price target on Gildan Activewear from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. CIBC lifted their target price on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets raised their price target on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.85.

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.