Toronto Dominion Bank Sells 1,156,367 Shares of Gildan Activewear Inc. (NYSE:GIL)

Toronto Dominion Bank lowered its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 93.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,646 shares of the textile maker’s stock after selling 1,156,367 shares during the quarter. Toronto Dominion Bank’s holdings in Gildan Activewear were worth $2,957,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in GIL. Cooke & Bieler LP lifted its holdings in shares of Gildan Activewear by 1.7% in the fourth quarter. Cooke & Bieler LP now owns 10,075,062 shares of the textile maker’s stock worth $333,082,000 after buying an additional 169,476 shares in the last quarter. Browning West LP increased its holdings in Gildan Activewear by 30.0% during the 4th quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock worth $285,653,000 after acquiring an additional 1,994,900 shares during the period. Vanguard Group Inc. lifted its stake in Gildan Activewear by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 6,401,045 shares of the textile maker’s stock worth $179,293,000 after purchasing an additional 97,924 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Gildan Activewear by 1.1% in the 4th quarter. Mackenzie Financial Corp now owns 2,712,021 shares of the textile maker’s stock valued at $89,732,000 after purchasing an additional 29,193 shares during the period. Finally, Norges Bank purchased a new position in shares of Gildan Activewear during the 4th quarter valued at $70,917,000. Institutional investors own 82.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on GIL. Stifel Nicolaus lowered their price objective on Gildan Activewear from $39.00 to $36.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Canaccord Genuity Group raised their price target on Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Canaccord Genuity Group boosted their price objective on Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $41.00 price objective 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 nine have given a buy rating to the stock. According to data from MarketBeat, Gildan Activewear presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.95.

Gildan Activewear Stock Performance

NYSE:GIL opened at $39.93 on Friday. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.52 and a beta of 1.43. The business has a 50 day moving average of $38.09 and a 200 day moving average of $35.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.38 and a quick ratio of 0.92. Gildan Activewear Inc. has a 1-year low of $26.99 and a 1-year high of $40.24.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. Gildan Activewear had a net margin of 16.14% and a return on equity of 24.00%. The firm had revenue of $695.80 million for the quarter, compared to the consensus estimate of $692.94 million. During the same period last year, the firm posted $0.45 earnings per share. The business’s revenue was down 1.0% compared to the same quarter last year. On average, sell-side analysts predict that Gildan Activewear Inc. will post 2.92 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Thursday, May 23rd were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Wednesday, May 22nd. Gildan Activewear’s dividend payout ratio is presently 27.70%.

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.