Gildan Activewear Inc. (NYSE:GIL) Stock Holdings Raised by Simcoe Capital Management LLC

Simcoe Capital Management LLC lifted its position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 10.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,387,865 shares of the textile maker’s stock after acquiring an additional 226,695 shares during the period. Gildan Activewear makes up approximately 14.8% of Simcoe Capital Management LLC’s portfolio, making the stock its 2nd largest position. Simcoe Capital Management LLC owned approximately 1.55% of Gildan Activewear worth $112,492,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Gildan Activewear by 106.5% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 48,573 shares of the textile maker’s stock worth $2,286,000 after purchasing an additional 25,050 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its position in shares of Gildan Activewear by 8.3% during the third quarter. Northwest & Ethical Investments L.P. now owns 61,859 shares of the textile maker’s stock valued at $2,912,000 after buying an additional 4,748 shares during the last quarter. Hyperion Capital Advisors LP bought a new stake in Gildan Activewear in the 3rd quarter worth about $294,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Gildan Activewear by 92.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 135,933 shares of the textile maker’s stock worth $6,405,000 after buying an additional 65,428 shares during the last quarter. Finally, Bridgewater Associates LP lifted its stake in Gildan Activewear by 84.8% during the 3rd quarter. Bridgewater Associates LP now owns 120,559 shares of the textile maker’s stock valued at $5,681,000 after acquiring an additional 55,339 shares during the period. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Gildan Activewear Stock Up 0.1 %

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

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The business 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 business’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 earnings per share. On average, sell-side analysts forecast that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be paid 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 payout ratio is 32.41%.

Analysts Set New Price Targets

A number of analysts have recently commented on GIL shares. Stifel Nicolaus lifted their price target on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. CIBC boosted their target price on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Citigroup increased their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Canaccord Genuity Group lifted their price target 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. Finally, TD Securities boosted their price objective on shares of Gildan Activewear from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Gildan Activewear has an average rating of “Moderate Buy” and an average target price of $50.85.

Gildan Activewear Company 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.