Toronto Dominion Bank trimmed its holdings in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 5.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 324,270 shares of the textile maker's stock after selling 20,396 shares during the quarter. Toronto Dominion Bank owned approximately 0.21% of Gildan Activewear worth $15,276,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Simcoe Capital Management LLC increased its stake in Gildan Activewear by 10.5% in the third quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker's stock worth $112,492,000 after purchasing an additional 226,695 shares during the period. Intech Investment Management LLC bought a new position in shares of Gildan Activewear in the third quarter worth about $544,000. Tacita Capital Inc increased its stake in Gildan Activewear by 1,025.5% in the 3rd quarter. Tacita Capital Inc now owns 13,056 shares of the textile maker's stock worth $615,000 after buying an additional 11,896 shares during the period. Bridges Investment Management Inc. bought a new stake in Gildan Activewear during the 2nd quarter valued at about $1,425,000. Finally, Vaughan Nelson Investment Management L.P. boosted its position in Gildan Activewear by 31.5% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,573,695 shares of the textile maker's stock valued at $59,674,000 after buying an additional 377,135 shares during the period. 82.83% of the stock is owned by institutional investors.
Gildan Activewear Stock Down 0.0 %
Shares of GIL stock traded down $0.01 during mid-day trading on Friday, hitting $48.82. 422,459 shares of the stock traded hands, compared to its average volume of 712,048. Gildan Activewear Inc. has a 52-week low of $30.68 and a 52-week high of $50.60. The stock has a market cap of $7.46 billion, a P/E ratio of 19.30, a P/E/G ratio of 1.82 and a beta of 1.40. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. The stock's fifty day moving average is $48.52 and its two-hundred day moving average is $43.75.
Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, meeting 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 in the prior year, the company posted $0.74 earnings per share. Gildan Activewear's revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts predict that Gildan Activewear Inc. will post 2.97 EPS for the current year.
Gildan Activewear Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 annualized dividend and a yield of 1.25%. Gildan Activewear's dividend payout ratio (DPR) is 32.41%.
Analysts Set New Price Targets
A number of brokerages have recently commented on GIL. TD Securities raised their target price on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, December 2nd. Stifel Nicolaus lifted their target price on Gildan Activewear from $54.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, November 1st. BMO Capital Markets increased their price target on Gildan Activewear from $47.00 to $58.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Canaccord Genuity Group raised their price target on Gildan Activewear from $52.00 to $53.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Finally, CIBC upped their price objective on shares of Gildan Activewear from $48.00 to $56.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $51.05.
Read Our Latest Stock Analysis on GIL
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, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.
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