Toronto Dominion Bank Sells 1,156,367 Shares of Gildan Activewear Inc. (NYSE:GIL)

Toronto Dominion Bank lowered its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 93.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 79,646 shares of the textile maker’s stock after selling 1,156,367 shares during the period. Toronto Dominion Bank’s holdings in Gildan Activewear were worth $2,957,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in Gildan Activewear during the fourth quarter valued at approximately $70,917,000. Browning West LP increased its stake in shares of Gildan Activewear by 30.0% in the 4th quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock valued at $285,653,000 after purchasing an additional 1,994,900 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Gildan Activewear during the 4th quarter worth $34,456,000. National Bank of Canada FI lifted its position in shares of Gildan Activewear by 43.8% during the 1st quarter. National Bank of Canada FI now owns 1,762,761 shares of the textile maker’s stock worth $65,451,000 after buying an additional 537,215 shares during the last quarter. Finally, Strs Ohio lifted its position in shares of Gildan Activewear by 443.6% during the 4th quarter. Strs Ohio now owns 588,202 shares of the textile maker’s stock worth $19,547,000 after buying an additional 480,000 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Stock Up 2.3 %

Shares of NYSE:GIL opened at $39.93 on Friday. The firm has a market cap of $6.62 billion, a P/E ratio of 13.49, a P/E/G ratio of 1.52 and a beta of 1.43. Gildan Activewear Inc. has a 12-month low of $26.99 and a 12-month high of $40.24. The business has a fifty day simple moving average of $38.09 and a 200 day simple moving average of $35.80. The company has a quick ratio of 0.92, a current ratio of 2.38 and a debt-to-equity ratio of 0.48.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. The company had revenue of $695.80 million during the quarter, compared to analysts’ expectations of $692.94 million. Gildan Activewear had a return on equity of 24.00% and a net margin of 16.14%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 earnings per share. Analysts predict that Gildan Activewear Inc. will post 2.92 earnings per share for the current year.

Gildan Activewear Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Thursday, May 23rd were given a $0.205 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.05%. Gildan Activewear’s dividend payout ratio (DPR) is currently 27.70%.

Analyst Ratings Changes

GIL has been the subject of several research analyst reports. Canaccord Genuity Group boosted their target price on Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $41.00 target price on shares of Gildan Activewear in a research report on Monday, April 8th. Stifel Nicolaus decreased their target price on shares of Gildan Activewear from $39.00 to $36.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Finally, Canaccord Genuity Group increased their price target on Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.95.

Gildan Activewear Company 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.