SaddleRock Capital Management LLC Acquires Shares of 109,548 Gildan Activewear, Inc. $GIL

SaddleRock Capital Management LLC bought a new position in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 109,548 shares of the textile maker’s stock, valued at approximately $5,653,000. Gildan Activewear comprises 5.5% of SaddleRock Capital Management LLC’s holdings, making the stock its 8th biggest position. SaddleRock Capital Management LLC owned approximately 0.06% of Gildan Activewear as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Islay Capital Management LLC bought a new stake in Gildan Activewear in the 4th quarter valued at about $25,000. Larson Financial Group LLC raised its position in shares of Gildan Activewear by 3,516.7% in the fourth quarter. Larson Financial Group LLC now owns 434 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 422 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Gildan Activewear by 14,833.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 448 shares of the textile maker’s stock valued at $28,000 after buying an additional 445 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Gildan Activewear by 867.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 513 shares of the textile maker’s stock worth $30,000 after buying an additional 460 shares during the period. Finally, CIBC Private Wealth Group LLC grew its stake in Gildan Activewear by 169.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 538 shares of the textile maker’s stock valued at $31,000 after buying an additional 338 shares in the last quarter. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Trading Down 2.3%

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

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Thursday, July 30th. The textile maker reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.17. Gildan Activewear had a return on equity of 21.03% and a net margin of 1.28%.The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the company earned $0.97 earnings per share. The firm’s quarterly revenue was up 72.3% on a year-over-year basis. Equities research analysts forecast that Gildan Activewear, Inc. will post 4.67 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Thursday, August 20th will be given a dividend of $0.249 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, August 20th. Gildan Activewear’s dividend payout ratio (DPR) is 190.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Scotia increased their target price on Gildan Activewear from $65.00 to $67.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 31st. Zacks Research upgraded Gildan Activewear from a “strong sell” rating to a “hold” rating in a research note on Friday, May 1st. Scotiabank reissued a “sector outperform” rating and set a $67.00 price objective (up from $65.00) on shares of Gildan Activewear in a report on Friday, July 31st. Stifel Nicolaus set a $83.00 target price on Gildan Activewear and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Citigroup reiterated a “neutral” rating on shares of Gildan Activewear in a research report on Tuesday, August 4th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Gildan Activewear currently has an average rating of “Moderate Buy” and an average price target of $80.00.

Gildan Activewear Company 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.