Bristol Gate Capital Partners Inc. Invests $259,000 in Gildan Activewear Inc (GIL)

Bristol Gate Capital Partners Inc. purchased a new position in Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) during the third quarter, Holdings Channel reports. The institutional investor purchased 8,512 shares of the textile maker’s stock, valued at approximately $259,000. Gildan Activewear accounts for 0.0% of Bristol Gate Capital Partners Inc.’s investment portfolio, making the stock its 27th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Global X Management Co LLC increased its stake in shares of Gildan Activewear by 145.3% in the 2nd quarter. Global X Management Co LLC now owns 6,390 shares of the textile maker’s stock valued at $180,000 after acquiring an additional 3,785 shares in the last quarter. Lester Murray Antman dba SimplyRich bought a new stake in shares of Gildan Activewear in the 2nd quarter valued at $205,000. Allianz Asset Management GmbH bought a new stake in shares of Gildan Activewear in the 1st quarter valued at $208,000. Prescott Group Capital Management L.L.C. bought a new stake in shares of Gildan Activewear in the 3rd quarter valued at $213,000. Finally, Jane Street Group LLC bought a new stake in shares of Gildan Activewear in the 2nd quarter valued at $221,000. Hedge funds and other institutional investors own 69.44% of the company’s stock.

Shares of GIL stock opened at $33.72 on Tuesday. The firm has a market cap of $6.79 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 1.48 and a beta of 0.75. The company has a debt-to-equity ratio of 0.45, a current ratio of 4.94 and a quick ratio of 1.79. Gildan Activewear Inc has a 12 month low of $25.33 and a 12 month high of $34.19.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Thursday, November 1st. The textile maker reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. The business had revenue of $754.40 million during the quarter, compared to analyst estimates of $759.15 million. Gildan Activewear had a net margin of 12.28% and a return on equity of 18.80%. Gildan Activewear’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.53 EPS. Analysts forecast that Gildan Activewear Inc will post 1.86 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Thursday, November 15th will be paid a $0.085 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $0.34 annualized dividend and a dividend yield of 1.01%. Gildan Activewear’s payout ratio is 26.16%.

A number of brokerages have commented on GIL. TheStreet upgraded shares of Gildan Activewear from a “c+” rating to a “b-” rating in a research note on Friday, August 24th. Desjardins upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating in a research note on Friday, November 2nd. Zacks Investment Research upgraded shares of Gildan Activewear from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. ValuEngine upgraded shares of Gildan Activewear from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. Finally, Raymond James restated a “strong-buy” rating and set a $40.00 price target on shares of Gildan Activewear in a research note on Friday, November 2nd. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Gildan Activewear has an average rating of “Buy” and a consensus price target of $34.25.

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Gildan Activewear Company Profile

Gildan Activewear Inc manufactures and sells a range of apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. 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, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.

Further Reading: Hedge Funds

Want to see what other hedge funds are holding GIL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gildan Activewear Inc (NYSE:GIL) (TSE:GIL).

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

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