Callan Family Office LLC Makes New $641,000 Investment in Gildan Activewear, Inc. $GIL

by · The Markets Daily

Callan Family Office LLC purchased a new position in Gildan Activewear, Inc. (NYSE:GIL – Free Report) (TSE:GIL) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,430 shares of the textile maker’s stock, valued at approximately $641,000.

Other institutional investors also recently modified their holdings of the company. Caisse de depot et placement du Quebec increased its position in shares of Gildan Activewear by 1,695.7% during the fourth quarter. Caisse de depot et placement du Quebec now owns 6,240,014 shares of the textile maker’s stock worth $390,539,000 after buying an additional 5,892,514 shares during the period. Norges Bank acquired a new position in Gildan Activewear in the fourth quarter valued at $151,018,000. Mackenzie Financial Corp boosted its position in Gildan Activewear by 41.2% during the fourth quarter. Mackenzie Financial Corp now owns 6,860,108 shares of the textile maker’s stock valued at $429,382,000 after acquiring an additional 2,001,279 shares during the last quarter. Brandes Investment Partners LP bought a new stake in Gildan Activewear during the fourth quarter valued at $99,870,000. Finally, Vanguard Group Inc. grew its holdings in Gildan Activewear by 26.0% during the 4th quarter. Vanguard Group Inc. now owns 7,566,962 shares of the textile maker’s stock worth $472,964,000 after acquiring an additional 1,561,729 shares during the period. 82.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GIL has been the topic of a number of recent analyst reports. Citigroup reissued a “neutral” rating on shares of Gildan Activewear in a research note on Tuesday, August 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Gildan Activewear in a report on Thursday, August 13th. Royal Bank Of Canada reissued an “outperform” rating and issued a $82.00 price target (up from $78.00) on shares of Gildan Activewear in a research note on Friday, July 31st. Scotia raised their price objective on shares of Gildan Activewear from $65.00 to $67.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 31st. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $77.00 price objective on shares of Gildan Activewear in a research note on Friday, May 1st. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.00.

Check Out Our Latest Stock Analysis on Gildan Activewear

Gildan Activewear Price Performance

GIL opened at $54.60 on Wednesday. Gildan Activewear, Inc. has a 1 year low of $46.55 and a 1 year high of $73.69. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.93 and a quick ratio of 1.01. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of 105.00 and a beta of 1.11. The firm’s fifty day moving average price is $53.74 and its two-hundred day moving average price is $58.39.

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

Gildan Activewear Dividend Announcement

The company also recently disclosed 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 is Thursday, August 20th. This represents a $1.00 annualized dividend and a yield of 1.8%. Gildan Activewear’s dividend payout ratio (DPR) is 192.31%.

Gildan Activewear Profile

(Free Report)

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.

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