Mufg Securities Canada LTD. Has $10.31 Million Stock Position in Gildan Activewear Inc. (NYSE:GIL)

Mufg Securities Canada LTD. raised its stake in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 63.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 219,301 shares of the textile maker's stock after buying an additional 85,053 shares during the period. Mufg Securities Canada LTD. owned approximately 0.14% of Gildan Activewear worth $10,314,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Intech Investment Management LLC acquired a new stake in Gildan Activewear in the third quarter worth approximately $544,000. Cerity Partners LLC boosted its stake in Gildan Activewear by 171.1% during the third quarter. Cerity Partners LLC now owns 17,720 shares of the textile maker's stock valued at $835,000 after buying an additional 11,184 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Gildan Activewear during the third quarter worth about $462,000. DRW Securities LLC bought a new stake in Gildan Activewear in the third quarter worth about $1,663,000. Finally, Townsquare Capital LLC acquired a new stake in Gildan Activewear in the 3rd quarter valued at about $253,000. 82.83% of the stock is currently owned by institutional investors.

Gildan Activewear Stock Up 0.3 %

Gildan Activewear stock traded up $0.13 during mid-day trading on Friday, hitting $44.94. The company's stock had a trading volume of 496,840 shares, compared to its average volume of 638,906. Gildan Activewear Inc. has a 52-week low of $32.23 and a 52-week high of $55.39. The company has a market cap of $6.83 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 1.76 and a beta of 1.39. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98. The firm's 50 day moving average is $50.21 and its 200 day moving average is $48.66.

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Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.13 by ($0.30). Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The company had revenue of $822.00 million during the quarter, compared to analysts' expectations of $805.75 million. During the same period last year, the company earned $0.75 earnings per share. Gildan Activewear's revenue for the quarter was up 5.0% compared to the same quarter last year. On average, analysts anticipate that Gildan Activewear Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Wednesday, March 12th will be issued a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a dividend yield of 2.01%. This is a positive change from Gildan Activewear's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, March 12th. Gildan Activewear's dividend payout ratio (DPR) is currently 36.00%.

Analysts Set New Price Targets

GIL has been the topic of a number of research reports. UBS Group boosted their target price on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. BMO Capital Markets upped their price target on Gildan Activewear from $58.00 to $64.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. CIBC raised their price objective on Gildan Activewear from $56.00 to $60.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Stifel Nicolaus boosted their target price on Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Finally, Canaccord Genuity Group increased their price target on Gildan Activewear from $53.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $60.00.

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.