Raymond James & Associates Has $2.71 Million Stake in Gildan Activewear Inc. (NYSE:GIL)

Raymond James & Associates grew its stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 191.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,538 shares of the textile maker's stock after purchasing an additional 37,785 shares during the period. Raymond James & Associates' holdings in Gildan Activewear were worth $2,711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of GIL. Blue Trust Inc. boosted its holdings in shares of Gildan Activewear by 96.1% in the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker's stock worth $38,000 after acquiring an additional 397 shares in the last quarter. Riverview Trust Co acquired a new position in shares of Gildan Activewear in the 3rd quarter worth approximately $29,000. Net Worth Advisory Group acquired a new position in shares of Gildan Activewear in the 3rd quarter worth approximately $350,000. Laurus Investment Counsel Inc. acquired a new position in shares of Gildan Activewear in the 3rd quarter worth approximately $203,000. Finally, Creative Planning boosted its holdings in shares of Gildan Activewear by 12.8% in the 3rd quarter. Creative Planning now owns 13,248 shares of the textile maker's stock worth $624,000 after acquiring an additional 1,505 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors.

Gildan Activewear Trading Up 2.3 %

Shares of GIL traded up $1.12 during trading hours on Tuesday, reaching $50.24. The stock had a trading volume of 658,097 shares, compared to its average volume of 709,243. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81. Gildan Activewear Inc. has a 52 week low of $30.68 and a 52 week high of $50.37. The firm has a 50-day moving average of $46.56 and a 200 day moving average of $41.04. The company has a market cap of $7.89 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.86 and a beta of 1.44.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its quarterly earnings data 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 business 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 earned $0.74 EPS. The firm's quarterly revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts expect that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Thursday, November 21st. Gildan Activewear's dividend payout ratio (DPR) is presently 32.41%.

Analyst Ratings Changes

GIL has been the topic of several research reports. Canaccord Genuity Group upped their price objective on Gildan Activewear from $52.00 to $53.00 and gave the stock a "buy" rating in a report on Friday. BMO Capital Markets upped their price objective on Gildan Activewear from $47.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday. CIBC upped their price objective on Gildan Activewear from $48.00 to $56.00 and gave the stock an "outperform" rating in a report on Friday. Stifel Nicolaus upped their price objective on Gildan Activewear from $54.00 to $60.00 and gave the stock a "buy" rating in a report on Friday. Finally, Citigroup upped their price objective on Gildan Activewear from $54.00 to $59.00 and gave the stock a "buy" rating in a report on Friday. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Gildan Activewear has a consensus rating of "Moderate Buy" and an average price target 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.