Mufg Securities Canada LTD. Sells 12,714 Shares of Gildan Activewear, Inc. $GIL

Mufg Securities Canada LTD. decreased its position in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 4.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 261,950 shares of the textile maker’s stock after selling 12,714 shares during the period. Mufg Securities Canada LTD. owned 0.14% of Gildan Activewear worth $13,484,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GIL. AQR Capital Management LLC lifted its stake in shares of Gildan Activewear by 49.3% during the 1st quarter. AQR Capital Management LLC now owns 13,209 shares of the textile maker’s stock valued at $584,000 after buying an additional 4,360 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Gildan Activewear by 40.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,760,253 shares of the textile maker’s stock valued at $77,838,000 after acquiring an additional 503,359 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Gildan Activewear by 2.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,585 shares of the textile maker’s stock valued at $8,251,000 after acquiring an additional 4,714 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Gildan Activewear by 2.1% in the second quarter. Cetera Investment Advisers now owns 12,510 shares of the textile maker’s stock worth $616,000 after acquiring an additional 259 shares during the period. Finally, Prudential Financial Inc. purchased a new stake in shares of Gildan Activewear during the second quarter worth about $317,000. 82.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GIL has been the topic of a number of research analyst reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $82.00 price target (up from $78.00) on shares of Gildan Activewear in a report on Friday, July 31st. Scotiabank reissued a “sector outperform” rating and issued a $67.00 target price (up from $65.00) on shares of Gildan Activewear in a report on Friday, July 31st. Citigroup restated a “neutral” rating on shares of Gildan Activewear in a research report on Tuesday, August 4th. UBS Group raised their target price on shares of Gildan Activewear from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, TD Securities reiterated a “buy” rating on shares of Gildan Activewear in a research note on Tuesday, June 16th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Gildan Activewear Price Performance

GIL stock opened at $52.16 on Tuesday. Gildan Activewear, Inc. has a 52 week low of $46.55 and a 52 week high of $73.69. The firm has a market capitalization of $9.66 billion, a P/E ratio of 100.31 and a beta of 1.11. The company has a fifty day simple moving average of $53.80 and a two-hundred day simple moving average of $57.88. The company has a quick ratio of 1.01, a current ratio of 1.93 and a debt-to-equity ratio of 1.15.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Thursday, July 30th. The textile maker reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.17. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Gildan Activewear had a net margin of 1.28% and a return on equity of 21.03%. The business’s revenue was up 72.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 EPS. Analysts anticipate that Gildan Activewear, Inc. will post 4.67 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Thursday, August 20th will be paid a $0.249 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, August 20th. Gildan Activewear’s dividend payout ratio (DPR) is presently 192.31%.

Gildan Activewear Profile

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.