DRW Securities LLC Makes New $1.66 Million Investment in Gildan Activewear Inc. (NYSE:GIL)

DRW Securities LLC bought a new stake in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 35,300 shares of the textile maker's stock, valued at approximately $1,663,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Riverview Trust Co bought a new position in shares of Gildan Activewear in the third quarter valued at approximately $29,000. Blue Trust Inc. raised its position in Gildan Activewear by 96.1% in the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker's stock worth $38,000 after purchasing an additional 397 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Gildan Activewear in the 2nd quarter valued at $51,000. Tobam acquired a new stake in shares of Gildan Activewear in the 2nd quarter valued at $53,000. Finally, EverSource Wealth Advisors LLC grew its stake in Gildan Activewear by 16.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker's stock worth $66,000 after buying an additional 274 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company's stock.

Gildan Activewear Stock Performance

NYSE GIL traded down $0.45 during trading on Tuesday, reaching $49.55. 438,049 shares of the company's stock were exchanged, compared to its average volume of 722,822. Gildan Activewear Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $50.58. The stock has a market capitalization of $7.63 billion, a P/E ratio of 19.58, a PEG ratio of 1.86 and a beta of 1.44. The business has a 50 day moving average price of $47.94 and a 200-day moving average price of $42.72. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.85. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The company had revenue of $891.10 million during the quarter, compared to analysts' expectations of $882.85 million. During the same quarter last year, the company posted $0.74 EPS. Gildan Activewear's quarterly revenue was up 2.4% compared to the same quarter last year. Sell-side analysts forecast that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.152 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a yield of 1.23%. Gildan Activewear's payout ratio is 32.41%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GIL shares. Stifel Nicolaus raised their target price on Gildan Activewear from $54.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Citigroup lifted their price objective on Gildan Activewear from $54.00 to $59.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Royal Bank of Canada increased their target price 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. TD Securities raised their price target on Gildan Activewear from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Finally, Canaccord Genuity Group boosted their price objective on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, Gildan Activewear presently has an average rating of "Moderate Buy" and a consensus target price of $50.85.

Gildan Activewear Company Profile

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.