LPL Financial LLC Boosts Holdings in Gildan Activewear, Inc. $GIL

LPL Financial LLC increased its holdings in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 5.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,670 shares of the textile maker’s stock after buying an additional 3,251 shares during the quarter. LPL Financial LLC’s holdings in Gildan Activewear were worth $2,639,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Janus Henderson Group PLC boosted its holdings in shares of Gildan Activewear by 1.9% in the fourth quarter. Janus Henderson Group PLC now owns 6,970,246 shares of the textile maker’s stock worth $327,950,000 after buying an additional 128,674 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Gildan Activewear by 276.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker’s stock valued at $83,394,000 after purchasing an additional 1,300,121 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Gildan Activewear by 15.7% during the fourth quarter. Lazard Asset Management LLC now owns 1,523,077 shares of the textile maker’s stock valued at $71,660,000 after purchasing an additional 206,569 shares in the last quarter. Bank of America Corp DE lifted its holdings in Gildan Activewear by 8.1% during the fourth quarter. Bank of America Corp DE now owns 1,502,417 shares of the textile maker’s stock valued at $70,689,000 after purchasing an additional 112,894 shares in the last quarter. Finally, Intact Investment Management Inc. lifted its holdings in Gildan Activewear by 12.6% during the first quarter. Intact Investment Management Inc. now owns 1,190,773 shares of the textile maker’s stock valued at $52,651,000 after purchasing an additional 133,253 shares in the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Gildan Activewear Trading Up 0.4%

NYSE GIL opened at $56.44 on Monday. The company’s 50-day moving average price is $50.47 and its 200-day moving average price is $48.37. The company has a current ratio of 3.87, a quick ratio of 1.67 and a debt-to-equity ratio of 1.37. The stock has a market cap of $8.42 billion, a PE ratio of 17.92, a PEG ratio of 1.81 and a beta of 1.17. Gildan Activewear, Inc. has a 12 month low of $37.16 and a 12 month high of $57.76.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Thursday, July 31st. The textile maker reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $918.50 million for the quarter, compared to analysts’ expectations of $908.41 million. Gildan Activewear had a net margin of 14.55% and a return on equity of 34.31%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 earnings per share. Equities research analysts forecast that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, August 21st will be given a dividend of $0.226 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.6%. Gildan Activewear’s dividend payout ratio (DPR) is 28.57%.

Wall Street Analysts Forecast Growth

GIL has been the topic of several analyst reports. Canaccord Genuity Group lifted their price target on shares of Gildan Activewear from $60.00 to $67.00 and gave the company a “buy” rating in a report on Thursday. National Bankshares reaffirmed an “outperform” rating on shares of Gildan Activewear in a report on Thursday. CIBC lifted their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an “outperformer” rating in a report on Friday, August 1st. Stifel Nicolaus boosted their target price on shares of Gildan Activewear from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Wall Street Zen raised shares of Gildan Activewear from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.58.

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.