Goodnow Investment Group LLC Takes Position in Gildan Activewear, Inc. $GIL

Goodnow Investment Group LLC purchased a new position in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 574,007 shares of the textile maker’s stock, valued at approximately $29,619,000. Gildan Activewear comprises approximately 3.1% of Goodnow Investment Group LLC’s portfolio, making the stock its 12th largest position. Goodnow Investment Group LLC owned about 0.31% of Gildan Activewear at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of GIL. Fifth Third Bancorp grew its holdings in shares of Gildan Activewear by 16.5% during the first quarter. Fifth Third Bancorp now owns 1,355 shares of the textile maker’s stock worth $75,000 after purchasing an additional 192 shares during the last quarter. Arkadios Wealth Advisors raised its holdings in shares of Gildan Activewear by 2.2% in the fourth quarter. Arkadios Wealth Advisors now owns 8,787 shares of the textile maker’s stock valued at $549,000 after buying an additional 193 shares during the last quarter. Tacita Capital Inc lifted its position in Gildan Activewear by 1.9% during the 4th quarter. Tacita Capital Inc now owns 11,250 shares of the textile maker’s stock worth $704,000 after buying an additional 211 shares in the last quarter. Cetera Investment Advisers lifted its position in Gildan Activewear by 2.1% during the 2nd quarter. Cetera Investment Advisers now owns 12,510 shares of the textile maker’s stock worth $616,000 after buying an additional 259 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in Gildan Activewear by 169.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 538 shares of the textile maker’s stock worth $31,000 after acquiring an additional 338 shares during the last quarter. Institutional investors own 82.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GIL shares. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $77.00 target price on shares of Gildan Activewear in a research note on Friday, May 1st. UBS Group increased their price target on shares of Gildan Activewear from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Zacks Research raised shares of Gildan Activewear from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. Weiss Ratings restated a “hold (c)” rating on shares of Gildan Activewear in a research report on Thursday, August 13th. Finally, TD Securities reaffirmed a “buy” rating on shares of Gildan Activewear in a report on Tuesday, June 16th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $80.00.

Gildan Activewear Trading Down 2.3%

GIL opened at $54.90 on Tuesday. The firm has a 50 day simple moving average of $53.66 and a 200 day simple moving average of $58.49. Gildan Activewear, Inc. has a fifty-two week low of $46.55 and a fifty-two week high of $73.69. The company has a market cap of $10.17 billion, a price-to-earnings ratio of 105.57 and a beta of 1.11. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.93 and a quick ratio of 1.01.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Thursday, July 30th. The textile maker reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.17. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.61 billion. Gildan Activewear had a net margin of 1.28% and a return on equity of 21.03%. The business’s quarterly revenue was up 72.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.97 EPS. On average, sell-side analysts anticipate that Gildan Activewear, Inc. will post 4.67 earnings per share for the current year.

Gildan Activewear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Thursday, August 20th will be paid a $0.249 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $1.00 annualized dividend and a yield of 1.8%. Gildan Activewear’s dividend payout ratio is presently 190.38%.

Gildan Activewear Profile

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.