Stifel Financial Corp Grows Holdings in Gildan Activewear Inc. (NYSE:GIL)

Stifel Financial Corp boosted its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 7.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 92,054 shares of the textile maker’s stock after purchasing an additional 6,205 shares during the period. Stifel Financial Corp’s holdings in Gildan Activewear were worth $4,337,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cooke & Bieler LP increased its position in Gildan Activewear by 2.7% in the 2nd quarter. Cooke & Bieler LP now owns 10,252,785 shares of the textile maker’s stock valued at $388,786,000 after acquiring an additional 271,273 shares during the period. Janus Henderson Group PLC grew its stake in shares of Gildan Activewear by 3.6% in the 3rd quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker’s stock valued at $322,298,000 after purchasing an additional 240,375 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Gildan Activewear by 14.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker’s stock worth $97,290,000 after purchasing an additional 324,304 shares during the period. Simcoe Capital Management LLC grew its position in Gildan Activewear by 10.5% in the 3rd quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock valued at $112,492,000 after buying an additional 226,695 shares during the last quarter. Finally, EdgePoint Investment Group Inc. increased its stake in Gildan Activewear by 28.0% in the 2nd 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 during the period. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Price Performance

GIL stock opened at $48.82 on Monday. The company has a market cap of $7.46 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 1.82 and a beta of 1.40. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. The stock has a 50-day moving average price of $48.55 and a two-hundred day moving average price of $43.87. Gildan Activewear Inc. has a 12-month low of $30.68 and a 12-month high of $50.60.

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

Gildan Activewear Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.152 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.61 annualized dividend and a yield of 1.25%. Gildan Activewear’s dividend payout ratio is currently 32.41%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GIL. TD Securities raised their target price on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. BMO Capital Markets lifted their price target on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Canaccord Genuity Group upped their target price on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus raised their price target on Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, CIBC upped their price objective on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.05.

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.