Tower Research Capital LLC TRC trimmed its holdings in shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 19.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,312 shares of the textile maker’s stock after selling 3,726 shares during the period. Tower Research Capital LLC TRC’s holdings in Gildan Activewear were worth $432,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Lester Murray Antman dba SimplyRich bought a new position in shares of Gildan Activewear during the 2nd quarter worth approximately $205,000. Allianz Asset Management GmbH bought a new position in shares of Gildan Activewear during the 1st quarter worth approximately $208,000. Cornerstone Wealth Management LLC bought a new position in shares of Gildan Activewear during the 2nd quarter worth approximately $250,000. Stifel Financial Corp boosted its holdings in shares of Gildan Activewear by 36.9% during the 1st quarter. Stifel Financial Corp now owns 9,002 shares of the textile maker’s stock worth $261,000 after buying an additional 2,425 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Gildan Activewear during the 2nd quarter worth approximately $324,000. Hedge funds and other institutional investors own 70.80% of the company’s stock.
A number of equities analysts recently issued reports on the company. Bank of America upgraded Gildan Activewear from an “underperform” rating to a “buy” rating in a report on Thursday, August 2nd. Desjardins cut Gildan Activewear from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. They noted that the move was a valuation call. ValuEngine upgraded Gildan Activewear from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Zacks Investment Research upgraded Gildan Activewear from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. Finally, TD Securities increased their target price on Gildan Activewear from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $33.00.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Thursday, August 2nd. The textile maker reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $764.20 million for the quarter, compared to analysts’ expectations of $728.72 million. Gildan Activewear had a return on equity of 18.53% and a net margin of 12.51%. Gildan Activewear’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business earned $0.48 EPS. sell-side analysts forecast that Gildan Activewear Inc will post 1.88 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Thursday, August 16th were given a $0.112 dividend. This represents a $0.45 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Wednesday, August 15th. Gildan Activewear’s payout ratio is currently 26.16%.
About Gildan Activewear
Gildan Activewear Inc manufactures and sells a range of apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.
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