Daiwa Securities Group Inc. Sells 1,138 Shares of Gildan Activewear Inc. (NYSE:GIL)

Daiwa Securities Group Inc. cut its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 7.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,644 shares of the textile maker’s stock after selling 1,138 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Gildan Activewear were worth $555,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GIL. EverSource Wealth Advisors LLC grew its holdings in Gildan Activewear by 16.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock worth $66,000 after purchasing an additional 274 shares during the period. Orion Portfolio Solutions LLC grew its stake in shares of Gildan Activewear by 1.5% in the 1st quarter. Orion Portfolio Solutions LLC now owns 35,893 shares of the textile maker’s stock worth $1,333,000 after buying an additional 535 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Gildan Activewear by 11.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 7,156 shares of the textile maker’s stock valued at $271,000 after buying an additional 747 shares in the last quarter. Addenda Capital Inc. raised its stake in Gildan Activewear by 0.4% during the first quarter. Addenda Capital Inc. now owns 212,701 shares of the textile maker’s stock valued at $7,898,000 after buying an additional 800 shares during the last quarter. Finally, UniSuper Management Pty Ltd boosted its holdings in Gildan Activewear by 69.2% in the first quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the textile maker’s stock worth $82,000 after acquiring an additional 900 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors.

Gildan Activewear Price Performance

Shares of GIL opened at $45.57 on Tuesday. The firm has a fifty day simple moving average of $41.88 and a two-hundred day simple moving average of $38.20. The firm has a market cap of $7.55 billion, a PE ratio of 15.40, a P/E/G ratio of 1.71 and a beta of 1.43. The company has a current ratio of 2.35, a quick ratio of 0.97 and a debt-to-equity ratio of 0.55. Gildan Activewear Inc. has a 1-year low of $26.99 and a 1-year high of $45.71.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, August 1st. The textile maker reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The company had revenue of $862.20 million for the quarter, compared to the consensus estimate of $851.10 million. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. Gildan Activewear’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 earnings per share. On average, equities analysts anticipate that Gildan Activewear Inc. will post 2.92 EPS for the current year.

Gildan Activewear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 22nd were given a dividend of $0.205 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.82 annualized dividend and a yield of 1.80%. Gildan Activewear’s dividend payout ratio (DPR) is 27.70%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GIL shares. BMO Capital Markets raised their price target on Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Stifel Nicolaus raised shares of Gildan Activewear from a “hold” rating to a “buy” rating and lifted their target price for the stock from $39.00 to $51.00 in a report on Friday, August 2nd. Finally, Royal Bank of Canada upped their target price on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Gildan Activewear 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.