Gildan Activewear Inc. (NYSE:GIL) Short Interest Update

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totalling 2,630,000 shares, a drop of 9.6% from the May 31st total of 2,910,000 shares. Approximately 1.6% of the company’s stock are sold short. Based on an average trading volume of 773,000 shares, the short-interest ratio is presently 3.4 days.

Hedge Funds Weigh In On Gildan Activewear

Institutional investors have recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Gildan Activewear in the 4th quarter valued at about $34,456,000. Strs Ohio raised its stake in shares of Gildan Activewear by 443.6% in the 4th quarter. Strs Ohio now owns 588,202 shares of the textile maker’s stock valued at $19,547,000 after purchasing an additional 480,000 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Gildan Activewear by 3,837,975.0% in the 4th quarter. BNP Paribas Financial Markets now owns 153,523 shares of the textile maker’s stock valued at $5,075,000 after purchasing an additional 153,519 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Gildan Activewear by 1.1% in the 4th quarter. Mackenzie Financial Corp now owns 2,712,021 shares of the textile maker’s stock valued at $89,732,000 after purchasing an additional 29,193 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Gildan Activewear in the 4th quarter valued at about $70,917,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Stock Up 1.2 %

Shares of NYSE:GIL traded up $0.44 during midday trading on Wednesday, hitting $38.52. 400,876 shares of the company’s stock traded hands, compared to its average volume of 805,113. Gildan Activewear has a twelve month low of $26.99 and a twelve month high of $39.07. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.92 and a current ratio of 2.38. The company has a market cap of $6.49 billion, a PE ratio of 13.01, a P/E/G ratio of 1.44 and a beta of 1.43. The firm’s fifty day moving average price is $36.42 and its two-hundred day moving average price is $35.04.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. Gildan Activewear had a net margin of 16.14% and a return on equity of 24.00%. The firm had revenue of $695.80 million for the quarter, compared to analyst estimates of $692.94 million. During the same quarter in the previous year, the business posted $0.45 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that Gildan Activewear will post 2.92 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Thursday, May 23rd were issued a $0.205 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $0.82 dividend on an annualized basis and a yield of 2.13%. Gildan Activewear’s dividend payout ratio is currently 27.36%.

Wall Street Analyst Weigh In

GIL has been the topic of several research reports. TD Securities raised their price objective on Gildan Activewear from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $41.00 target price on shares of Gildan Activewear in a research note on Monday, April 8th. Canaccord Genuity Group boosted their price objective on shares of Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Canaccord Genuity Group boosted their price objective on shares of Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.95.

About Gildan Activewear

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.