Daiwa Securities Group Inc. Has $522,000 Holdings in Gildan Activewear Inc. (NYSE:GIL)

Daiwa Securities Group Inc. trimmed its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 10.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,782 shares of the textile maker’s stock after selling 1,884 shares during the period. Daiwa Securities Group Inc.’s holdings in Gildan Activewear were worth $522,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Byrne Asset Management LLC bought a new position in Gildan Activewear during the third quarter valued at about $34,000. EverSource Wealth Advisors LLC increased its position in shares of Gildan Activewear by 120.6% during the third quarter. EverSource Wealth Advisors LLC now owns 1,646 shares of the textile maker’s stock valued at $46,000 after purchasing an additional 900 shares during the period. Signaturefd LLC raised its stake in shares of Gildan Activewear by 39.3% in the third quarter. Signaturefd LLC now owns 4,104 shares of the textile maker’s stock valued at $115,000 after purchasing an additional 1,158 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Gildan Activewear by 60.4% in the third quarter. PNC Financial Services Group Inc. now owns 4,213 shares of the textile maker’s stock worth $118,000 after purchasing an additional 1,586 shares during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in Gildan Activewear during the fourth quarter worth $202,000. Institutional investors own 82.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. TD Securities increased their price objective on shares of Gildan Activewear from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Stifel Nicolaus raised their price target on shares of Gildan Activewear from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, February 22nd. Citigroup upped their price objective on Gildan Activewear from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Scotiabank raised their target price on Gildan Activewear from $39.50 to $40.50 and gave the stock a “sector outperform” rating in a research report on Friday, February 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $41.00 price target on shares of Gildan Activewear in a research report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.25.

Gildan Activewear Stock Performance

Shares of NYSE:GIL opened at $35.07 on Friday. The business has a fifty day moving average of $35.56 and a 200-day moving average of $33.77. The firm has a market cap of $5.91 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.35 and a beta of 1.38. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.83 and a current ratio of 2.33. Gildan Activewear Inc. has a twelve month low of $26.98 and a twelve month high of $38.87.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Wednesday, February 21st. The textile maker reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $782.70 million during the quarter, compared to analyst estimates of $753.35 million. Gildan Activewear had a net margin of 16.70% and a return on equity of 23.19%. Gildan Activewear’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. On average, equities research analysts predict that Gildan Activewear Inc. will post 2.94 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Wednesday, March 13th were given a dividend of $0.205 per share. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.82 annualized dividend and a dividend yield of 2.34%. Gildan Activewear’s payout ratio is currently 27.06%.

About Gildan Activewear

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.