The Manufacturers Life Insurance Company raised its holdings in Gildan Activewear Inc. (NYSE:GIL – Free Report) (TSE:GIL) by 35.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,244,492 shares of the textile maker’s stock after purchasing an additional 585,532 shares during the period. The Manufacturers Life Insurance Company owned about 1.28% of Gildan Activewear worth $72,338,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Addison Advisors LLC grew its holdings in Gildan Activewear by 97.5% in the first quarter. Addison Advisors LLC now owns 1,627 shares of the textile maker’s stock valued at $54,000 after purchasing an additional 803 shares during the period. Covestor Ltd purchased a new position in shares of Gildan Activewear in the second quarter valued at approximately $76,000. Signaturefd LLC lifted its position in shares of Gildan Activewear by 16.0% in the second quarter. Signaturefd LLC now owns 2,946 shares of the textile maker’s stock valued at $95,000 after acquiring an additional 407 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Gildan Activewear in the third quarter valued at approximately $106,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Gildan Activewear by 11.4% in the first quarter. Jones Financial Companies Lllp now owns 3,413 shares of the textile maker’s stock valued at $113,000 after acquiring an additional 348 shares in the last quarter. 79.09% of the stock is owned by institutional investors and hedge funds.
Gildan Activewear Price Performance
GIL stock opened at $35.90 on Friday. The business has a fifty day moving average of $30.42 and a two-hundred day moving average of $30.28. The company has a quick ratio of 0.93, a current ratio of 2.50 and a debt-to-equity ratio of 0.40. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 1.57 and a beta of 1.31. Gildan Activewear Inc. has a 52-week low of $26.30 and a 52-week high of $36.02.
Gildan Activewear (NYSE:GIL – Get Free Report) (TSE:GIL) last issued its quarterly earnings data on Thursday, November 2nd. The textile maker reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Gildan Activewear had a return on equity of 22.80% and a net margin of 14.81%. The business had revenue of $869.90 million during the quarter, compared to analysts’ expectations of $834.15 million. As a group, research analysts anticipate that Gildan Activewear Inc. will post 2.55 earnings per share for the current year.
Gildan Activewear Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 18th. Stockholders of record on Wednesday, November 22nd will be paid a $0.186 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.07%. Gildan Activewear’s payout ratio is presently 28.35%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on GIL shares. BMO Capital Markets decreased their target price on Gildan Activewear from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Friday, November 3rd. TD Securities raised their target price on Gildan Activewear from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Canaccord Genuity Group raised their target price on Gildan Activewear from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Royal Bank of Canada raised their target price on Gildan Activewear from $36.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. Finally, StockNews.com upgraded Gildan Activewear from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.77.
View Our Latest Research Report on Gildan Activewear
Gildan Activewear Company Profile
(Free Report)
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, Comfort Colors, American Apparel, Alstyle, and GoldToe brands.
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