LPL Financial LLC Has $2.64 Million Holdings in Gildan Activewear, Inc. $GIL

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

A number of other large investors also recently modified their holdings of GIL. The Manufacturers Life Insurance Company boosted its stake in shares of Gildan Activewear by 276.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker’s stock worth $83,394,000 after buying an additional 1,300,121 shares during the last quarter. Genus Capital Management Inc. lifted its position in Gildan Activewear by 191.7% during the first quarter. Genus Capital Management Inc. now owns 251,308 shares of the textile maker’s stock worth $11,109,000 after acquiring an additional 525,386 shares during the last quarter. Millennium Management LLC lifted its position in Gildan Activewear by 5,996.0% during the fourth quarter. Millennium Management LLC now owns 466,342 shares of the textile maker’s stock worth $21,935,000 after acquiring an additional 458,692 shares during the last quarter. Royal Bank of Canada lifted its position in Gildan Activewear by 24.1% during the fourth quarter. Royal Bank of Canada now owns 1,173,213 shares of the textile maker’s stock worth $55,199,000 after acquiring an additional 228,141 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position 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 worth $71,660,000 after acquiring an additional 206,569 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GIL shares. Cfra Research raised shares of Gildan Activewear to a “hold” rating in a report on Monday, August 4th. Wall Street Zen raised shares of Gildan Activewear from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Canaccord Genuity Group lifted their price objective on shares of Gildan Activewear from $60.00 to $67.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus lifted their price objective on shares of Gildan Activewear from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Citigroup set a $60.00 price objective on shares of Gildan Activewear and gave the company a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $64.58.

Gildan Activewear Stock Performance

Shares of Gildan Activewear stock opened at $56.44 on Monday. The firm has a market capitalization of $8.42 billion, a P/E ratio of 17.92, a P/E/G ratio of 1.81 and a beta of 1.17. The company’s 50 day moving average price is $50.47 and its two-hundred day moving average price is $48.37. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.87 and a quick ratio of 1.67. Gildan Activewear, Inc. has a fifty-two week low of $37.16 and a fifty-two week high of $57.76.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued 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 company had revenue of $918.50 million for the quarter, compared to analyst estimates of $908.41 million. Gildan Activewear had a net margin of 14.55% and a return on equity of 34.31%. Gildan Activewear’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 earnings per share. On average, equities analysts forecast that Gildan Activewear, Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

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

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.