Geode Capital Management LLC Purchases Shares of 138,348 Gildan Activewear, Inc. (GIL)

Geode Capital Management LLC purchased a new stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 138,348 shares of the textile maker’s stock, valued at approximately $3,722,000. Geode Capital Management LLC owned about 0.06% of Gildan Activewear as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GIL. Jarislowsky Fraser Ltd increased its position in Gildan Activewear by 2.4% in the first quarter. Jarislowsky Fraser Ltd now owns 14,878,696 shares of the textile maker’s stock valued at $400,850,000 after buying an additional 342,337 shares in the last quarter. Turtle Creek Asset Management Inc. increased its position in Gildan Activewear by 74.5% in the first quarter. Turtle Creek Asset Management Inc. now owns 7,259,863 shares of the textile maker’s stock valued at $196,307,000 after buying an additional 3,099,700 shares in the last quarter. Cooke & Bieler LP increased its position in Gildan Activewear by 10.3% in the first quarter. Cooke & Bieler LP now owns 6,030,167 shares of the textile maker’s stock valued at $163,055,000 after buying an additional 563,303 shares in the last quarter. Vanguard Group Inc. increased its position in Gildan Activewear by 3.3% in the first quarter. Vanguard Group Inc. now owns 4,742,823 shares of the textile maker’s stock valued at $128,246,000 after buying an additional 153,063 shares in the last quarter. Finally, TD Asset Management Inc. increased its position in Gildan Activewear by 3.2% in the first quarter. TD Asset Management Inc. now owns 3,544,662 shares of the textile maker’s stock valued at $95,497,000 after buying an additional 108,663 shares in the last quarter. 75.67% of the stock is currently owned by institutional investors.

Gildan Activewear, Inc. (NYSE:GIL) traded down 0.66% on Friday, reaching $30.07. 38,492 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $30.36 and a 200-day moving average of $28.12. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 18.20 and a beta of 0.72. Gildan Activewear, Inc. has a one year low of $23.55 and a one year high of $31.83.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Thursday, August 3rd. The textile maker reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. Gildan Activewear had a net margin of 14.16% and a return on equity of 18.65%. The firm had revenue of $715.40 million for the quarter, compared to analyst estimates of $753.85 million. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 earnings per share. Equities research analysts forecast that Gildan Activewear, Inc. will post $1.70 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Thursday, August 17th will be paid a $0.094 dividend. The ex-dividend date is Tuesday, August 15th. This represents a $0.38 annualized dividend and a yield of 1.24%. Gildan Activewear’s dividend payout ratio is currently 22.42%.

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Several research analysts recently commented on GIL shares. Zacks Investment Research downgraded shares of Gildan Activewear from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. TheStreet downgraded shares of Gildan Activewear from a “b-” rating to a “c” rating in a research note on Wednesday, May 3rd. TD Securities raised their price target on shares of Gildan Activewear from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, May 4th. BMO Capital Markets reaffirmed a “buy” rating and issued a $34.00 price target (up previously from $32.00) on shares of Gildan Activewear in a research note on Friday, August 4th. Finally, Royal Bank Of Canada raised their price target on shares of Gildan Activewear from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, May 4th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Gildan Activewear has a consensus rating of “Hold” and an average price target of $35.14.

About Gildan Activewear

Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.

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

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