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Hedge Funds

Daiwa Securities Group Inc. Has $836,000 Holdings in Gildan Activewear Inc. (NYSE:GIL)


Daiwa Securities Group Inc. lessened its holdings in shares of Gildan Activewear Inc. (NYSE:GILGet Rating) (TSE:GIL) by 18.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,300 shares of the textile maker’s stock after selling 4,968 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Gildan Activewear were worth $836,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GIL. Gulf International Bank UK Ltd raised its stake in Gildan Activewear by 53.3% during the 4th quarter. Gulf International Bank UK Ltd now owns 2,932 shares of the textile maker’s stock worth $124,000 after buying an additional 1,020 shares during the period. Bessemer Group Inc. raised its stake in Gildan Activewear by 7,093.9% during the 4th quarter. Bessemer Group Inc. now owns 15,323 shares of the textile maker’s stock worth $649,000 after buying an additional 15,110 shares during the period. Marathon Asset Mgmt Ltd raised its stake in Gildan Activewear by 28.3% during the 4th quarter. Marathon Asset Mgmt Ltd now owns 914,308 shares of the textile maker’s stock worth $38,817,000 after buying an additional 201,650 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Gildan Activewear in the 4th quarter valued at about $5,786,000. Finally, Davidson Investment Advisors raised its stake in shares of Gildan Activewear by 0.9% in the 4th quarter. Davidson Investment Advisors now owns 307,565 shares of the textile maker’s stock valued at $13,038,000 after purchasing an additional 2,738 shares during the period. Institutional investors and hedge funds own 75.31% of the company’s stock.

Gildan Activewear Trading Down 0.9 %

Gildan Activewear stock opened at $28.76 on Friday. Gildan Activewear Inc. has a 52 week low of $25.67 and a 52 week high of $43.63. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 3.33. The stock has a market capitalization of $5.29 billion, a P/E ratio of 8.59, a PEG ratio of 1.07 and a beta of 1.41. The stock has a 50-day simple moving average of $29.13 and a 200 day simple moving average of $34.58.

Gildan Activewear (NYSE:GILGet Rating) (TSE:GIL) last posted its quarterly earnings results on Wednesday, May 4th. The textile maker reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.27. Gildan Activewear had a return on equity of 31.46% and a net margin of 21.07%. The business had revenue of $774.90 million during the quarter, compared to analysts’ expectations of $666.81 million. During the same quarter last year, the company posted $0.48 earnings per share. Gildan Activewear’s quarterly revenue was up 31.4% on a year-over-year basis. Analysts expect that Gildan Activewear Inc. will post 3.03 earnings per share for the current year.

Gildan Activewear Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 20th. Investors of record on Thursday, May 26th were issued a dividend of $0.169 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Wednesday, May 25th. Gildan Activewear’s payout ratio is currently 20.30%.

Wall Street Analyst Weigh In

GIL has been the topic of several recent research reports. National Bank Financial dropped their price target on Gildan Activewear from C$64.00 to C$42.00 in a research note on Tuesday, July 12th. StockNews.com downgraded Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Friday, May 13th. Royal Bank of Canada lifted their price target on Gildan Activewear from $51.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, May 5th. Canaccord Genuity Group dropped their price target on Gildan Activewear from $52.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, May 5th. Finally, TD Securities dropped their price target on Gildan Activewear from $51.00 to $43.00 and set a “buy” rating on the stock in a research note on Tuesday, July 5th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Gildan Activewear presently has an average rating of “Moderate Buy” and a consensus price target of $45.27.

Gildan Activewear Company Profile

(Get Rating)

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, Comfort Colors, American Apparel, Alstyle, and GoldToe brands.

Featured Stories

Want to see what other hedge funds are holding GIL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gildan Activewear Inc. (NYSE:GILGet Rating) (TSE:GIL).

Institutional Ownership by Quarter for Gildan Activewear (NYSE:GIL)



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