North Point Portfolio Managers Corp OH Lowers Stock Holdings in Gildan Activewear Inc (NYSE:GIL)

North Point Portfolio Managers Corp OH trimmed its holdings in shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 1.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 330,562 shares of the textile maker’s stock after selling 5,139 shares during the period. Gildan Activewear makes up approximately 2.3% of North Point Portfolio Managers Corp OH’s holdings, making the stock its 20th largest position. North Point Portfolio Managers Corp OH owned approximately 0.16% of Gildan Activewear worth $12,786,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GIL. Swiss National Bank boosted its holdings in Gildan Activewear by 5.2% in the 2nd quarter. Swiss National Bank now owns 762,700 shares of the textile maker’s stock worth $29,514,000 after buying an additional 37,600 shares during the period. Comerica Bank raised its position in shares of Gildan Activewear by 127.0% during the 2nd quarter. Comerica Bank now owns 28,212 shares of the textile maker’s stock valued at $1,133,000 after buying an additional 15,786 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Gildan Activewear by 14.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 48,048 shares of the textile maker’s stock valued at $1,858,000 after buying an additional 6,005 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Gildan Activewear by 0.4% during the 2nd quarter. Janus Henderson Group PLC now owns 9,713,799 shares of the textile maker’s stock valued at $375,748,000 after buying an additional 36,796 shares in the last quarter. Finally, Aperio Group LLC raised its position in shares of Gildan Activewear by 5.1% during the 2nd quarter. Aperio Group LLC now owns 221,613 shares of the textile maker’s stock valued at $8,572,000 after buying an additional 10,721 shares in the last quarter. Hedge funds and other institutional investors own 68.62% of the company’s stock.

A number of analysts recently weighed in on GIL shares. Desjardins raised shares of Gildan Activewear from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. ValuEngine downgraded shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Raymond James restated a “strong-buy” rating and issued a $14.00 target price on shares of Gildan Activewear in a research note on Thursday, May 2nd. TD Securities upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Finally, Citigroup upped their target price on shares of Gildan Activewear from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $34.16.

GIL stock traded up $0.25 during midday trading on Friday, hitting $36.19. 17,605 shares of the stock traded hands, compared to its average volume of 433,243. The firm has a market cap of $7.32 billion, a P/E ratio of 19.44, a PEG ratio of 1.33 and a beta of 0.83. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.33 and a quick ratio of 1.68. The stock’s fifty day simple moving average is $38.77 and its 200-day simple moving average is $37.06. Gildan Activewear Inc has a 1-year low of $28.11 and a 1-year high of $40.40.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. Gildan Activewear had a net margin of 10.14% and a return on equity of 18.48%. The business had revenue of $801.60 million for the quarter, compared to the consensus estimate of $793.91 million. During the same period in the previous year, the firm earned $0.52 EPS. The business’s revenue was up 4.9% on a year-over-year basis. On average, research analysts predict that Gildan Activewear Inc will post 1.98 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Shareholders of record on Thursday, August 15th will be issued a $0.236 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Wednesday, August 14th. Gildan Activewear’s dividend payout ratio is presently 29.03%.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. 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, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.

Further Reading: Cost of Capital Explained

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

Receive News & Ratings for Gildan Activewear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gildan Activewear and related companies with MarketBeat.com's FREE daily email newsletter.