Cooper Financial Group Raises Stock Position in Gildan Activewear Inc. (NYSE:GIL)

Cooper Financial Group grew its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 13.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,523 shares of the textile maker’s stock after purchasing an additional 1,886 shares during the quarter. Cooper Financial Group’s holdings in Gildan Activewear were worth $500,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GIL. Skandinaviska Enskilda Banken AB publ boosted its stake in Gildan Activewear by 1.2% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 28,576 shares of the textile maker’s stock valued at $948,000 after acquiring an additional 343 shares in the last quarter. Jones Financial Companies Lllp increased its position in Gildan Activewear by 11.4% during the first quarter. Jones Financial Companies Lllp now owns 3,413 shares of the textile maker’s stock worth $113,000 after buying an additional 348 shares during the period. Alliancebernstein L.P. lifted its stake in Gildan Activewear by 5.1% in the fourth quarter. Alliancebernstein L.P. now owns 15,743 shares of the textile maker’s stock valued at $431,000 after buying an additional 758 shares during the last quarter. Addison Advisors LLC boosted its holdings in shares of Gildan Activewear by 97.5% in the first quarter. Addison Advisors LLC now owns 1,627 shares of the textile maker’s stock valued at $54,000 after acquiring an additional 803 shares during the period. Finally, Park Avenue Securities LLC grew its position in shares of Gildan Activewear by 7.6% during the first quarter. Park Avenue Securities LLC now owns 12,114 shares of the textile maker’s stock worth $402,000 after acquiring an additional 853 shares during the last quarter. Institutional investors and hedge funds own 79.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Citigroup lowered their price objective on shares of Gildan Activewear from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, August 4th. StockNews.com downgraded Gildan Activewear from a “hold” rating to a “sell” rating in a research note on Wednesday, August 30th. CIBC cut their price target on Gildan Activewear from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Friday, August 4th. Stifel Nicolaus lifted their price objective on shares of Gildan Activewear from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, August 29th. Finally, TD Securities upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating and raised their target price for the stock from $36.00 to $38.00 in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Gildan Activewear currently has an average rating of “Moderate Buy” and an average target price of $39.43.

Gildan Activewear Stock Performance

NYSE:GIL opened at $28.39 on Friday. The firm’s fifty day simple moving average is $30.29 and its 200-day simple moving average is $30.80. The company has a quick ratio of 1.16, a current ratio of 3.22 and a debt-to-equity ratio of 0.55. The stock has a market cap of $4.96 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 1.21 and a beta of 1.28. Gildan Activewear Inc. has a fifty-two week low of $26.30 and a fifty-two week high of $34.33.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Thursday, August 3rd. The textile maker reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. The company had revenue of $840.40 million for the quarter, compared to analyst estimates of $822.03 million. Gildan Activewear had a net margin of 15.73% and a return on equity of 24.47%. Analysts expect that Gildan Activewear Inc. will post 2.59 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Thursday, August 24th will be paid a dividend of $0.186 per share. This represents a $0.74 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Wednesday, August 23rd. Gildan Activewear’s dividend payout ratio (DPR) is presently 27.21%.

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, Comfort Colors, American Apparel, Alstyle, and GoldToe brands.