TD Waterhouse Canada Inc. Acquires 93,338 Shares of Gildan Activewear Inc. (NYSE:GIL)

TD Waterhouse Canada Inc. raised its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 73.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 220,174 shares of the textile maker’s stock after buying an additional 93,338 shares during the period. TD Waterhouse Canada Inc.’s holdings in Gildan Activewear were worth $10,248,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Plato Investment Management Ltd bought a new stake in Gildan Activewear in the 4th quarter valued at $28,000. Fifth Third Bancorp boosted its holdings in shares of Gildan Activewear by 61.8% during the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock worth $41,000 after buying an additional 333 shares during the period. Steward Partners Investment Advisory LLC grew its stake in Gildan Activewear by 500.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker’s stock valued at $42,000 after buying an additional 745 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in Gildan Activewear by 899.0% in the 4th quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock valued at $47,000 after acquiring an additional 908 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Gildan Activewear by 561.9% during the fourth quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker’s stock worth $67,000 after acquiring an additional 1,208 shares during the period. 82.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GIL shares. Canaccord Genuity Group lifted their price target on Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. CIBC boosted their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. BMO Capital Markets raised their price target on shares of Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. UBS Group increased their target price on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Stifel Nicolaus lifted their price target on shares of Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $60.00.

Gildan Activewear Stock Performance

NYSE GIL opened at $40.78 on Tuesday. The firm’s 50 day simple moving average is $46.58 and its 200 day simple moving average is $48.02. The firm has a market capitalization of $6.18 billion, a price-to-earnings ratio of 16.31, a P/E/G ratio of 1.76 and a beta of 1.16. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92. Gildan Activewear Inc. has a 1 year low of $32.23 and a 1 year high of $55.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.30). Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The business had revenue of $822.00 million during the quarter, compared to the consensus estimate of $805.75 million. During the same quarter in the previous year, the business posted $0.75 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, research analysts expect that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th were issued a $0.226 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.22%. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.15. Gildan Activewear’s dividend payout ratio is 36.00%.

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.