Riverview Trust Co Buys New Stake in Gildan Activewear Inc. (NYSE:GIL)

Riverview Trust Co bought a new stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 610 shares of the textile maker’s stock, valued at approximately $29,000.

A number of other large investors have also recently bought and sold shares of GIL. Intact Investment Management Inc. lifted its stake in shares of Gildan Activewear by 204.8% in the 2nd quarter. Intact Investment Management Inc. now owns 881,100 shares of the textile maker’s stock worth $33,416,000 after acquiring an additional 591,980 shares during the period. National Bank of Canada FI grew its holdings in shares of Gildan Activewear by 43.8% during the first quarter. National Bank of Canada FI now owns 1,762,761 shares of the textile maker’s stock worth $65,451,000 after buying an additional 537,215 shares in the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of Gildan Activewear by 28.0% during the second quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker’s stock worth $70,696,000 after buying an additional 407,113 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Gildan Activewear by 31.5% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,573,695 shares of the textile maker’s stock worth $59,674,000 after buying an additional 377,135 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Gildan Activewear by 14.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker’s stock worth $97,290,000 after buying an additional 324,304 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Trading Up 0.2 %

Gildan Activewear stock opened at $47.51 on Friday. The firm has a 50 day simple moving average of $45.26 and a 200-day simple moving average of $40.05. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97. The stock has a market capitalization of $7.87 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.81 and a beta of 1.43. Gildan Activewear Inc. has a 12-month low of $27.24 and a 12-month high of $48.01.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The firm had revenue of $862.20 million during the quarter, compared to analyst estimates of $851.10 million. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. As a group, equities research analysts expect that Gildan Activewear Inc. will post 2.92 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.205 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.82 annualized dividend and a yield of 1.73%. Gildan Activewear’s dividend payout ratio (DPR) is presently 27.70%.

Analyst Ratings Changes

GIL has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price target on shares of Gildan Activewear from $51.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. BMO Capital Markets upped their target price on shares of Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. TD Securities lifted their price target on shares of Gildan Activewear from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada boosted their price target on Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Gildan Activewear presently has an average rating of “Moderate Buy” and an average target price of $45.68.

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.