TD Waterhouse Canada Inc. Acquires 121,661 Shares of Gildan Activewear, Inc. $GIL

TD Waterhouse Canada Inc. grew its holdings in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 6.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,947,328 shares of the textile maker’s stock after acquiring an additional 121,661 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Gildan Activewear were worth $101,013,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Islay Capital Management LLC acquired a new stake in shares of Gildan Activewear in the 4th quarter valued at approximately $25,000. Larson Financial Group LLC increased its position in Gildan Activewear by 3,516.7% during the 4th quarter. Larson Financial Group LLC now owns 434 shares of the textile maker’s stock worth $27,000 after purchasing an additional 422 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in Gildan Activewear by 14,833.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 448 shares of the textile maker’s stock worth $28,000 after purchasing an additional 445 shares in the last quarter. Brown Brothers Harriman & Co. lifted its stake in Gildan Activewear by 867.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 513 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 460 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in Gildan Activewear by 169.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 538 shares of the textile maker’s stock valued at $31,000 after purchasing an additional 338 shares during the last quarter. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Trading Up 4.4%

Shares of NYSE GIL opened at $53.70 on Friday. The firm has a 50 day moving average price of $53.70 and a two-hundred day moving average price of $57.45. The stock has a market cap of $9.94 billion, a P/E ratio of 103.27 and a beta of 1.08. Gildan Activewear, Inc. has a 52-week low of $46.55 and a 52-week high of $73.69. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.01 and a current ratio of 1.93.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Thursday, July 30th. The textile maker reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.17. Gildan Activewear had a net margin of 1.28% and a return on equity of 21.03%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the business earned $0.97 earnings per share. Gildan Activewear’s revenue was up 72.3% compared to the same quarter last year. As a group, equities analysts forecast that Gildan Activewear, Inc. will post 4.67 EPS for the current year.

Gildan Activewear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Thursday, August 20th will be given a $0.249 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Thursday, August 20th. Gildan Activewear’s payout ratio is 192.31%.

Analysts Set New Price Targets

A number of analysts have weighed in on GIL shares. UBS Group raised their target price on shares of Gildan Activewear from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Scotia upped their price target on shares of Gildan Activewear from $65.00 to $67.00 and gave the stock a “sector outperform” rating in a report on Friday, July 31st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $82.00 price target (up from $78.00) on shares of Gildan Activewear in a research note on Friday, July 31st. Stifel Nicolaus set a $83.00 price objective on Gildan Activewear and gave the company a “buy” rating in a report on Friday, July 31st. Finally, TD Securities restated a “buy” rating on shares of Gildan Activewear in a research report on Tuesday, June 16th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Gildan Activewear Profile

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.