MML Investors Services LLC Cuts Position in Gildan Activewear Inc. (NYSE:GIL)

MML Investors Services LLC reduced its stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 20.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,904 shares of the textile maker’s stock after selling 6,002 shares during the period. MML Investors Services LLC’s holdings in Gildan Activewear were worth $1,126,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in GIL. Intact Investment Management Inc. lifted its stake in shares of Gildan Activewear by 204.8% in the second quarter. Intact Investment Management Inc. now owns 881,100 shares of the textile maker’s stock valued at $33,416,000 after purchasing an additional 591,980 shares during the period. EdgePoint Investment Group Inc. increased its holdings in Gildan Activewear by 28.0% in the second quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker’s stock valued at $70,696,000 after buying an additional 407,113 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Gildan Activewear by 14.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker’s stock valued at $97,290,000 after acquiring an additional 324,304 shares during the period. Cooke & Bieler LP boosted its stake in shares of Gildan Activewear by 2.7% during the 2nd quarter. Cooke & Bieler LP now owns 10,252,785 shares of the textile maker’s stock worth $388,786,000 after acquiring an additional 271,273 shares in the last quarter. Finally, Toronto Dominion Bank grew its holdings in shares of Gildan Activewear by 332.7% in the 2nd quarter. Toronto Dominion Bank now owns 344,666 shares of the textile maker’s stock worth $13,070,000 after acquiring an additional 265,020 shares during the period. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GIL has been the topic of a number of research analyst reports. Citigroup boosted their target price on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets boosted their price objective on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Canaccord Genuity Group raised their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus upped their price target on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, TD Securities increased their price target on shares of Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Gildan Activewear presently has an average rating of “Moderate Buy” and a consensus target price of $51.05.

Gildan Activewear Stock Performance

Shares of GIL opened at $46.77 on Friday. Gildan Activewear Inc. has a 1 year low of $30.68 and a 1 year high of $50.60. The company’s 50 day simple moving average is $48.61 and its 200 day simple moving average is $44.12. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.82 and a beta of 1.40. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.85. The company had revenue of $891.10 million for the quarter, compared to analyst estimates of $882.85 million. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.74 EPS. On average, sell-side analysts predict that Gildan Activewear Inc. will post 2.97 EPS for the current year.

Gildan Activewear Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, November 21st were issued a $0.152 dividend. This represents a $0.61 annualized dividend and a yield of 1.30%. The ex-dividend date was Thursday, November 21st. Gildan Activewear’s dividend payout ratio (DPR) is 32.41%.

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.