Riverview Trust Co Takes Position in Gildan Activewear Inc. (NYSE:GIL)

Riverview Trust Co acquired a new position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 610 shares of the textile maker’s stock, valued at approximately $29,000.

Several other large investors also recently made changes to their positions in GIL. Net Worth Advisory Group bought a new position in shares of Gildan Activewear in the third quarter valued at approximately $350,000. Laurus Investment Counsel Inc. acquired a new position in Gildan Activewear during the 3rd quarter worth $203,000. Creative Planning boosted its holdings in Gildan Activewear by 12.8% during the third quarter. Creative Planning now owns 13,248 shares of the textile maker’s stock valued at $624,000 after acquiring an additional 1,505 shares during the period. Willis Investment Counsel grew its stake in shares of Gildan Activewear by 3.9% in the third quarter. Willis Investment Counsel now owns 34,545 shares of the textile maker’s stock worth $1,627,000 after acquiring an additional 1,296 shares during the last quarter. Finally, CWM LLC increased its position in Gildan Activewear by 23.0% during the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after acquiring an additional 318 shares during the period. Institutional investors own 82.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. TD Securities boosted their price target on Gildan Activewear from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday. Stifel Nicolaus boosted their price target on shares of Gildan Activewear from $51.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada raised their price objective on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, BMO Capital Markets raised their price target on Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.68.

Gildan Activewear Trading Up 0.2 %

NYSE:GIL opened at $47.51 on Friday. The company has a market cap of $7.87 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 1.81 and a beta of 1.43. Gildan Activewear Inc. has a twelve month low of $27.24 and a twelve month high of $48.01. The business has a 50 day moving average price of $45.26 and a two-hundred day moving average price of $40.05. The company has a quick ratio of 0.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.55.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.03. The firm had revenue of $862.20 million for the quarter, compared to analyst estimates of $851.10 million. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 EPS. As a group, analysts expect that Gildan Activewear Inc. will post 2.92 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Thursday, August 22nd. Gildan Activewear’s dividend payout ratio (DPR) is presently 27.70%.

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.