SYSTM Wealth Solutions LLC buys 674 shares of Gildan Activewear Inc. (NYSE:GIL)

SYSTM Wealth Solutions LLC grew its position in shares of Gildan Activewear Inc. (NYSE:GIL – Free Report) (TSE:GIL) by 33.1% during the second quarter, HoldingsChannel reports. The firm owned 2,709 shares of the textile maker’s stock after acquiring an additional 674 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Gildan Activewear were worth $103,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have recently modified their holdings of GIL. Dimensional Fund Advisors LP lifted its position in Gildan Activewear by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,148,030 shares of the textile maker’s stock worth $43,533,000 after purchasing an additional 110,704 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Gildan Activewear by 12.3% during the second quarter. Envestnet Asset Management Inc. now owns 315,851 shares of the textile maker’s stock worth $11,977,000 after purchasing an additional 34,534 shares in the last quarter. Zions Bancorporation NA boosted its holdings in shares of Gildan Activewear by 11.0% in the second quarter. Zions Bancorporation NA now owns 11,090 shares of the textile maker’s stock worth $421,000 after acquiring an additional 1,099 shares during the last quarter. Forsta AP Fonden acquired a new stake in shares of Gildan Activewear in the second quarter valued at $1,494,000. Finally, American Century Companies Inc. raised its holdings in shares of Gildan Activewear by 43.9% during the second quarter. American Century Companies Inc. now owns 122,159 shares of the textile maker’s stock valued at $4,633,000 after buying an additional 37,288 shares during the last quarter. 82.83% of the shares are currently held by hedge funds and other institutional investors.

Price performance Gildan Activewear

GIL opened at $46.31 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.97, and a current ratio of 2.35. The stock has a market cap of $7.67 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 1.71 and a beta of 1.43. The stock’s 50-day moving average price is $42.30 and its 200-day moving average price is $38.39. Gildan Activewear Inc. it has a 52-week low of $26.99 and a 52-week high of $46.68.

Gildan Activewear (NYSE:GIL – Get Your Free Report ) (TSE:GIL) last posted its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The business had revenue of $862.20 million for the quarter, compared to the consensus estimate of $851.10 million. During the same period in the previous year, the firm earned $0.63 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts predict that Gildan Activewear Inc. will post 2.92 EPS for the current year.

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd were issued a $0.205 dividend. The ex-dividend date of this dividend was Thursday, August 22. This represents an annualized dividend of $0.82 and a yield of 1.77%. Gildan Activewear’s dividend payout ratio (DPR) is currently 27.70%.

Analysts set new price targets

Several analysts have weighed in on the stock. Stifel Nicolaus raised shares of Gildan Activewear from a “hold” rating to a “buy” rating and boosted their price target for the stock from $39.00 to $51.00 in a research note on Friday. August 2. Royal Bank of Canada upped their target price on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets upped their target price on Gildan Activewear from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.50, according to data from MarketBeat.

Check out the latest stock analysis on GIL

About Gildan Activewear

(Free report)

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific and Latin America. Offers a variety of activewear products including jerseys, fleece tops and pants, 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 .

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