Creative Planning Buys 1,505 Shares of Gildan Activewear Inc. (NYSE:GIL)

Creative Planning raised its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 12.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,248 shares of the textile maker’s stock after acquiring an additional 1,505 shares during the period. Creative Planning’s holdings in Gildan Activewear were worth $624,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Cooke & Bieler LP grew its holdings in shares of Gildan Activewear by 2.7% in the second quarter. Cooke & Bieler LP now owns 10,252,785 shares of the textile maker’s stock worth $388,786,000 after purchasing an additional 271,273 shares during the last quarter. Cardinal Capital Management Inc. lifted its position 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 valued at $110,197,000 after buying an additional 42,094 shares during the period. The Manufacturers Life Insurance Company lifted its position 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 valued at $97,290,000 after buying an additional 324,304 shares during the period. EdgePoint Investment Group Inc. lifted its position 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 valued at $70,696,000 after buying an additional 407,113 shares during the period. Finally, Anson Funds Management LP increased its holdings in shares of Gildan Activewear by 13.8% during the first quarter. Anson Funds Management LP now owns 1,791,705 shares of the textile maker’s stock valued at $66,521,000 after acquiring an additional 216,705 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors.

Gildan Activewear Stock Performance

NYSE GIL opened at $49.12 on Tuesday. The company has a market cap of $7.71 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.85 and a beta of 1.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.97 and a current ratio of 2.35. The business’s 50 day moving average price is $46.56 and its 200-day moving average price is $41.04. Gildan Activewear Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $50.12.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The company had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a return on equity of 25.66% and a net margin of 13.06%. Gildan Activewear’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.74 EPS. Sell-side analysts predict that Gildan Activewear Inc. will post 2.93 earnings per share for the current year.

Gildan Activewear Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be paid a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear’s dividend payout ratio (DPR) is currently 32.41%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GIL. TD Securities raised their price target on Gildan Activewear from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday. CIBC boosted their price target on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday. Citigroup boosted their price target on Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada lifted their price objective on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, BMO Capital Markets boosted their price target on Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $50.85.

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.