The Manufacturers Life Insurance Company Invests $234.76 Million in Gildan Activewear, Inc. $GIL

The Manufacturers Life Insurance Company purchased a new stake in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,561,775 shares of the textile maker’s stock, valued at approximately $234,764,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Islay Capital Management LLC acquired a new stake in Gildan Activewear during the fourth quarter worth about $25,000. Larson Financial Group LLC raised its stake in Gildan Activewear by 3,516.7% during the fourth quarter. Larson Financial Group LLC now owns 434 shares of the textile maker’s stock worth $27,000 after purchasing an additional 422 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Gildan Activewear by 161.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 555 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 343 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Gildan Activewear by 14,833.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 448 shares of the textile maker’s stock valued at $28,000 after purchasing an additional 445 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in Gildan Activewear by 867.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 513 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 460 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Trading Down 2.3%

Shares of GIL stock opened at $54.90 on Tuesday. Gildan Activewear, Inc. has a 1-year low of $46.55 and a 1-year high of $73.69. The firm has a market cap of $10.17 billion, a PE ratio of 105.57 and a beta of 1.11. The company has a 50-day moving average of $53.66 and a two-hundred day moving average of $58.49. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.93 and a quick ratio of 1.01.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Thursday, July 30th. The textile maker reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.17. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.61 billion. Gildan Activewear had a net margin of 1.28% and a return on equity of 21.03%. The business’s revenue was up 72.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.97 EPS. On average, analysts predict that Gildan Activewear, Inc. will post 4.67 EPS for the current year.

Gildan Activewear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Thursday, August 20th will be issued a $0.249 dividend. This represents a $1.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, August 20th. Gildan Activewear’s dividend payout ratio (DPR) is 190.38%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GIL shares. Weiss Ratings restated a “hold (c)” rating on shares of Gildan Activewear in a report on Thursday, August 13th. TD Securities reiterated a “buy” rating on shares of Gildan Activewear in a report on Tuesday, June 16th. Scotia increased their price objective on Gildan Activewear from $65.00 to $67.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 31st. Stifel Nicolaus set a $83.00 target price on Gildan Activewear and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, UBS Group lifted their target price on Gildan Activewear from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Gildan Activewear Profile

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.