Legacy Wealth Asset Management LLC Boosts Stock Position in Gildan Activewear Inc. (NYSE:GIL)

Legacy Wealth Asset Management LLC lifted its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 115.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,965 shares of the textile maker’s stock after buying an additional 6,938 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Gildan Activewear were worth $610,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Riverview Trust Co acquired a new position in Gildan Activewear during the third quarter worth $29,000. Blue Trust Inc. increased its stake in shares of Gildan Activewear by 96.1% during the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock worth $38,000 after purchasing an additional 397 shares in the last quarter. CWM LLC raised its position in shares of Gildan Activewear by 23.0% during the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after purchasing an additional 318 shares during the last quarter. SYSTM Wealth Solutions LLC lifted its stake in Gildan Activewear by 33.1% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 2,709 shares of the textile maker’s stock valued at $103,000 after buying an additional 674 shares in the last quarter. Finally, Laurus Investment Counsel Inc. acquired a new stake in Gildan Activewear in the 3rd quarter worth about $203,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Analyst Ratings Changes

GIL has been the subject of a number of research analyst reports. UBS Group raised Gildan Activewear from a “neutral” rating to a “buy” rating and increased their target price for the company from $50.00 to $60.00 in a report on Friday, January 10th. CIBC raised their price objective on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Canaccord Genuity Group lifted their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets increased their target price on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, TD Securities raised their price target on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Gildan Activewear currently has an average rating of “Buy” and a consensus target price of $53.35.

Gildan Activewear Price Performance

Gildan Activewear stock opened at $49.78 on Friday. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average price of $48.28 and a 200 day moving average price of $45.52. Gildan Activewear Inc. has a 12-month low of $31.22 and a 12-month high of $50.60. The stock has a market cap of $7.61 billion, a P/E ratio of 19.68, a PEG ratio of 1.59 and a beta of 1.41.

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 (EPS) for the quarter, hitting analysts’ consensus estimates of $0.85. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The business had revenue of $891.10 million during the quarter, compared to the consensus estimate of $882.85 million. During the same quarter last year, the firm earned $0.74 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. Sell-side analysts anticipate that Gildan Activewear Inc. will post 2.97 earnings per share for the current year.

Gildan Activewear Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, November 21st were paid a $0.152 dividend. This represents a $0.61 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Thursday, November 21st. Gildan Activewear’s dividend payout ratio (DPR) is presently 32.41%.

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.