Deutsche Bank AG Boosts Position in Gildan Activewear Inc. (NYSE:GIL)

Deutsche Bank AG increased its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 5.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 221,436 shares of the textile maker’s stock after acquiring an additional 10,889 shares during the quarter. Deutsche Bank AG’s holdings in Gildan Activewear were worth $10,419,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in GIL. Franklin Resources Inc. increased its stake in Gildan Activewear by 6.5% in the 3rd quarter. Franklin Resources Inc. now owns 35,135 shares of the textile maker’s stock worth $1,702,000 after buying an additional 2,138 shares during the period. Legacy Wealth Asset Management LLC increased its position in Gildan Activewear by 115.1% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 12,965 shares of the textile maker’s stock valued at $610,000 after purchasing an additional 6,938 shares during the period. Avanza Fonder AB purchased a new position in Gildan Activewear during the 4th quarter valued at about $602,000. Arkadios Wealth Advisors increased its position in Gildan Activewear by 36.4% during the 4th quarter. Arkadios Wealth Advisors now owns 6,139 shares of the textile maker’s stock valued at $289,000 after purchasing an additional 1,637 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in Gildan Activewear by 12.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 11,435 shares of the textile maker’s stock valued at $538,000 after purchasing an additional 1,226 shares during the period. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Analysts Set New Price Targets

GIL has been the topic of a number of research reports. BMO Capital Markets raised their target price on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. TD Securities raised their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Stifel Nicolaus raised their target price on shares of Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Citigroup raised their target price on shares of Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, CIBC cut their target price on shares of Gildan Activewear from $60.00 to $56.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Gildan Activewear has a consensus rating of “Buy” and a consensus price target of $58.20.

Gildan Activewear Stock Up 1.5%

Shares of Gildan Activewear stock opened at $50.09 on Friday. The firm’s 50 day moving average price is $44.28 and its 200-day moving average price is $47.83. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92. Gildan Activewear Inc. has a 52-week low of $34.62 and a 52-week high of $55.39. The company has a market cap of $7.57 billion, a P/E ratio of 20.03, a PEG ratio of 1.76 and a beta of 1.21.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Tuesday, April 29th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The firm had revenue of $711.70 million for the quarter, compared to the consensus estimate of $715.29 million. During the same quarter in the previous year, the firm earned $0.59 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts predict that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Tuesday, May 20th will be paid a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, May 20th. Gildan Activewear’s dividend payout ratio (DPR) is presently 34.75%.

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.