Deutsche Bank AG Sells 5,245 Shares of Gildan Activewear, Inc. (NYSE:GIL)

Key Points

• Deutsche Bank AG has reduced its stake in Gildan Activewear by 2.4%, selling 5,245 shares and now holds a total of 216,191 shares, valued at approximately $9.56 million.
• Several institutional investors, including Olde Wealth Management LLC and Natixis, have either increased or established new stakes in Gildan Activewear, with institutional ownership now exceeding 82.83%.
• Analysts have recently upgraded Gildan Activewear, with target prices now ranging from $56.00 to $75.00, reflecting strong confidence in the company’s performance.

Deutsche Bank AG cut its holdings in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 2.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 216,191 shares of the textile maker's stock after selling 5,245 shares during the period. Deutsche Bank AG owned approximately 0.14% of Gildan Activewear worth $9,560,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Olde Wealth Management LLC acquired a new stake in shares of Gildan Activewear in the 1st quarter valued at about $29,000. Versant Capital Management Inc increased its position in shares of Gildan Activewear by 510.7% in the first quarter. Versant Capital Management Inc now owns 745 shares of the textile maker's stock valued at $33,000 after acquiring an additional 623 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Gildan Activewear by 4,323.5% in the first quarter. GAMMA Investing LLC now owns 752 shares of the textile maker's stock valued at $33,000 after acquiring an additional 735 shares during the last quarter. Blue Trust Inc. increased its position in shares of Gildan Activewear by 69.3% in the first quarter. Blue Trust Inc. now owns 1,336 shares of the textile maker's stock valued at $59,000 after acquiring an additional 547 shares during the last quarter. Finally, Natixis increased its position in shares of Gildan Activewear by 423.8% in the fourth quarter. Natixis now owns 1,540 shares of the textile maker's stock valued at $72,000 after acquiring an additional 1,246 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GIL has been the topic of a number of recent research reports. UBS Group lifted their target price on Gildan Activewear from $56.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Barclays lifted their target price on Gildan Activewear from $51.00 to $56.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Cfra Research raised Gildan Activewear to a "hold" rating in a research report on Monday, August 4th. Canaccord Genuity Group boosted their price target on Gildan Activewear from $60.00 to $67.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Stifel Nicolaus boosted their price target on Gildan Activewear from $65.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.58.

Gildan Activewear Trading Up 0.4%

Shares of NYSE:GIL opened at $56.44 on Friday. Gildan Activewear, Inc. has a 12-month low of $37.16 and a 12-month high of $57.76. The stock has a market cap of $8.42 billion, a PE ratio of 17.92, a P/E/G ratio of 1.80 and a beta of 1.17. The business has a 50 day moving average of $50.47 and a 200-day moving average of $48.42. The company has a quick ratio of 1.67, a current ratio of 3.87 and a debt-to-equity ratio of 1.37.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings results on Thursday, July 31st. The textile maker reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.01. The business had revenue of $918.50 million during the quarter, compared to analysts' expectations of $908.41 million. Gildan Activewear had a return on equity of 34.31% and a net margin of 14.55%. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 earnings per share. As a group, equities research analysts forecast that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 21st will be paid a $0.226 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Thursday, August 21st. Gildan Activewear's payout ratio is 28.57%.

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.

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