Gildan Activewear Inc. (NYSE:GIL) Announces $0.19 Quarterly Dividend

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) announced a quarterly dividend on Wednesday, November 1st, NASDAQ reports. Stockholders of record on Wednesday, November 22nd will be paid a dividend of 0.186 per share by the textile maker on Monday, December 18th. This represents a $0.74 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Tuesday, November 21st.

Gildan Activewear has raised its dividend by an average of 8.0% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Gildan Activewear has a payout ratio of 24.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Gildan Activewear to earn $2.92 per share next year, which means the company should continue to be able to cover its $0.74 annual dividend with an expected future payout ratio of 25.3%.

Gildan Activewear Stock Performance

Shares of GIL opened at $35.73 on Monday. The firm has a market cap of $6.15 billion, a PE ratio of 13.69, a P/E/G ratio of 1.55 and a beta of 1.31. The company has a current ratio of 2.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average price of $29.69 and a 200-day moving average price of $30.07. Gildan Activewear has a 12 month low of $26.30 and a 12 month high of $36.00.

Institutional Investors Weigh In On Gildan Activewear

Institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in Gildan Activewear by 36.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,381 shares of the textile maker’s stock worth $127,000 after buying an additional 896 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in Gildan Activewear in the 3rd quarter worth approximately $106,000. Lazard Asset Management LLC lifted its stake in Gildan Activewear by 225.9% in the 4th quarter. Lazard Asset Management LLC now owns 5,339 shares of the textile maker’s stock worth $146,000 after purchasing an additional 3,701 shares in the last quarter. Stifel Financial Corp purchased a new position in Gildan Activewear in the 1st quarter worth approximately $208,000. Finally, ExodusPoint Capital Management LP purchased a new position in Gildan Activewear in the 2nd quarter worth approximately $213,000. 79.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GIL. Stifel Nicolaus raised their target price on Gildan Activewear from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. BMO Capital Markets reduced their target price on Gildan Activewear from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Citigroup reduced their target price on Gildan Activewear from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, August 4th. Scotiabank raised their target price on Gildan Activewear from $36.50 to $39.50 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. Finally, TD Securities lifted their price objective on Gildan Activewear from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Gildan Activewear currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.77.

About Gildan Activewear

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, Comfort Colors, American Apparel, Alstyle, and GoldToe brands.