DRW Securities LLC Buys New Holdings in Gildan Activewear Inc. (NYSE:GIL)

DRW Securities LLC bought a new stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,300 shares of the textile maker’s stock, valued at approximately $1,663,000.

A number of other large investors have also modified their holdings of the company. Cooke & Bieler LP raised its stake in Gildan Activewear by 2.7% during the second quarter. Cooke & Bieler LP now owns 10,252,785 shares of the textile maker’s stock worth $388,786,000 after acquiring an additional 271,273 shares in the last quarter. Cardinal Capital Management Inc. raised its stake in Gildan Activewear by 1.5% during the second quarter. Cardinal Capital Management Inc. now owns 2,907,144 shares of the textile maker’s stock worth $110,197,000 after acquiring an additional 42,094 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Gildan Activewear by 14.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker’s stock worth $97,290,000 after acquiring an additional 324,304 shares in the last quarter. EdgePoint Investment Group Inc. raised its stake in Gildan Activewear by 28.0% during the second quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker’s stock worth $70,696,000 after acquiring an additional 407,113 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in Gildan Activewear by 2.8% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,618,420 shares of the textile maker’s stock worth $76,244,000 after acquiring an additional 44,725 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Price Performance

Gildan Activewear stock opened at $50.01 on Tuesday. The business’s 50-day simple moving average is $47.86 and its 200 day simple moving average is $42.60. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 1.86 and a beta of 1.44. Gildan Activewear Inc. has a 12-month low of $30.68 and a 12-month high of $50.58. 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 (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The business had revenue of $891.10 million for the quarter, compared to analysts’ expectations of $882.85 million. During the same quarter last year, the business earned $0.74 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, research analysts anticipate that Gildan Activewear Inc. will post 2.97 earnings per share for the current year.

Gildan Activewear Cuts Dividend

The business 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 1.22%. The ex-dividend date is Thursday, November 21st. Gildan Activewear’s dividend payout ratio (DPR) is currently 32.41%.

Analyst Upgrades and Downgrades

GIL has been the subject of several recent analyst reports. Citigroup increased their price objective on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Stifel Nicolaus increased their target price on Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. CIBC increased their target price on Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets increased their target price on Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada increased their target price on Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Gildan Activewear currently has an average rating of “Moderate Buy” and an average target price of $50.85.

About Gildan Activewear

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.