Toronto Dominion Bank Cuts Holdings in Gildan Activewear Inc. (NYSE:GIL)

Toronto Dominion Bank reduced its position in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 19.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 261,976 shares of the textile maker's stock after selling 62,294 shares during the period. Toronto Dominion Bank owned approximately 0.17% of Gildan Activewear worth $12,313,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GIL. Norges Bank bought a new position in shares of Gildan Activewear in the 4th quarter worth $97,275,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Gildan Activewear by 604.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker's stock valued at $86,999,000 after acquiring an additional 1,588,071 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Gildan Activewear by 276.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker's stock valued at $83,394,000 after acquiring an additional 1,300,121 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Gildan Activewear by 545.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker's stock valued at $57,403,000 after acquiring an additional 1,022,695 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Gildan Activewear by 776.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker's stock valued at $38,414,000 after acquiring an additional 723,962 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on GIL shares. BMO Capital Markets raised their price objective on Gildan Activewear from $58.00 to $64.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. CIBC lowered their target price on Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. UBS Group raised their price objective on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Barclays started coverage on shares of Gildan Activewear in a research report on Monday, April 28th. They issued an "overweight" rating and a $51.00 price objective on the stock. Finally, Citigroup lifted their price objective on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $58.20.

Gildan Activewear Stock Performance

Shares of GIL traded up $0.07 during trading hours on Friday, hitting $48.99. The company's stock had a trading volume of 437,720 shares, compared to its average volume of 641,626. The company has a market cap of $7.40 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 1.76 and a beta of 1.21. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98. The business has a 50 day simple moving average of $44.54 and a two-hundred day simple moving average of $47.84. Gildan Activewear Inc. has a 52-week low of $35.51 and a 52-week high of $55.39.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its earnings results on Tuesday, April 29th. The textile maker reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $711.70 million during the quarter, compared to the consensus estimate of $715.29 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The company's revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned $0.59 earnings per share. On average, equities analysts expect that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Tuesday, May 20th will be paid a dividend of $0.226 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.90 annualized dividend and a yield of 1.85%. Gildan Activewear's dividend payout ratio is currently 34.75%.

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, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.