Bank of America Corp DE Has $100.03 Million Stock Position in Gildan Activewear, Inc. $GIL

Bank of America Corp DE increased its position in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 13.4% during the first quarter, Holdings Channel.com reports. The institutional investor owned 1,797,429 shares of the textile maker’s stock after purchasing an additional 212,217 shares during the period. Bank of America Corp DE’s holdings in Gildan Activewear were worth $100,027,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GIL. Caisse de depot et placement du Quebec increased its holdings in shares of Gildan Activewear by 1,695.7% during the 4th 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 acquiring an additional 5,892,514 shares during the last quarter. Norges Bank acquired a new stake in shares of Gildan Activewear during the 4th quarter worth about $151,018,000. Mackenzie Financial Corp lifted its stake in shares of Gildan Activewear by 41.2% during the 4th quarter. Mackenzie Financial Corp now owns 6,860,108 shares of the textile maker’s stock worth $429,382,000 after buying an additional 2,001,279 shares during the last quarter. Brandes Investment Partners LP bought a new stake in shares of Gildan Activewear during the 4th quarter worth about $99,870,000. Finally, Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 1,561,729 shares during the period. 82.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GIL shares. Scotia boosted their price objective on Gildan Activewear from $65.00 to $67.00 and gave the stock a “sector outperform” rating in a report on Friday, July 31st. Stifel Nicolaus set a $83.00 price target on Gildan Activewear and gave the stock a “buy” rating in a 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. Citigroup reaffirmed a “neutral” rating on shares of Gildan Activewear in a report on Tuesday. Finally, UBS Group increased their price objective on Gildan Activewear from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.07.

Gildan Activewear Stock Performance

NYSE GIL opened at $57.51 on Friday. The firm’s fifty day moving average price is $54.15 and its two-hundred day moving average price is $59.25. The stock has a market cap of $10.65 billion, a PE ratio of 110.59 and a beta of 1.11. Gildan Activewear, Inc. has a fifty-two week low of $46.00 and a fifty-two week high of $73.69. 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 issued its quarterly earnings data on Thursday, July 30th. The textile maker reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.17. Gildan Activewear had a return on equity of 21.03% and a net margin of 1.28%.The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the company posted $0.97 EPS. Gildan Activewear’s quarterly revenue was up 72.3% compared to the same quarter last year. On average, equities analysts expect that Gildan Activewear, Inc. will post 4.67 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

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 issued a dividend of $0.249 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, August 20th. Gildan Activewear’s payout ratio is 192.31%.

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.