Tower Research Capital LLC TRC cut its holdings in shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 19.6% in the 2nd quarter, Holdings Channel reports. The firm owned 15,312 shares of the textile maker’s stock after selling 3,726 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Gildan Activewear were worth $432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Bank of America Corp DE increased its position in shares of Gildan Activewear by 12.4% during the 2nd quarter. Bank of America Corp DE now owns 2,069,502 shares of the textile maker’s stock valued at $58,278,000 after purchasing an additional 228,918 shares during the last quarter. Grandeur Peak Global Advisors LLC increased its position in shares of Gildan Activewear by 3.7% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 508,963 shares of the textile maker’s stock valued at $14,351,000 after purchasing an additional 18,000 shares during the last quarter. Laurion Capital Management LP purchased a new stake in shares of Gildan Activewear during the 2nd quarter valued at $2,816,000. Bridgewater Associates LP increased its position in shares of Gildan Activewear by 202.0% during the 2nd quarter. Bridgewater Associates LP now owns 93,404 shares of the textile maker’s stock valued at $2,629,000 after purchasing an additional 62,473 shares during the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Gildan Activewear during the 2nd quarter valued at $563,000. 70.80% of the stock is owned by hedge funds and other institutional investors.

GIL has been the subject of several research analyst reports. ValuEngine lowered Gildan Activewear from a “hold” rating to a “sell” rating in a research report on Wednesday, June 6th. Royal Bank of Canada raised their target price on Gildan Activewear from $32.00 to $33.00 and gave the company a “sector perform” rating in a research report on Friday, August 3rd. Bank of America raised Gildan Activewear from an “underperform” rating to a “buy” rating in a research report on Thursday, August 2nd. Zacks Investment Research raised Gildan Activewear from a “sell” rating to a “hold” rating in a research report on Wednesday, June 20th. Finally, Desjardins lowered Gildan Activewear from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $33.00.

Shares of GIL opened at $30.10 on Thursday. Gildan Activewear Inc has a fifty-two week low of $25.33 and a fifty-two week high of $34.19. The stock has a market capitalization of $6.17 billion, a P/E ratio of 17.47, a PEG ratio of 1.35 and a beta of 0.81. The company has a quick ratio of 1.76, a current ratio of 5.06 and a debt-to-equity ratio of 0.47.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Thursday, August 2nd. The textile maker reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.03. Gildan Activewear had a return on equity of 18.53% and a net margin of 12.51%. The company had revenue of $764.20 million during the quarter, compared to analyst estimates of $728.72 million. During the same quarter last year, the firm posted $0.48 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. sell-side analysts expect that Gildan Activewear Inc will post 1.88 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Thursday, August 16th were issued a $0.112 dividend. This represents a $0.45 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Wednesday, August 15th. Gildan Activewear’s dividend payout ratio (DPR) is currently 26.16%.

Gildan Activewear Profile

Gildan Activewear Inc manufactures and sells a range of apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.

Recommended Story: Earnings Per Share

Want to see what other hedge funds are holding GIL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gildan Activewear Inc (NYSE:GIL) (TSE:GIL).

Institutional Ownership by Quarter for Gildan Activewear (NYSE:GIL)

Receive News & Ratings for Gildan Activewear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gildan Activewear and related companies with MarketBeat.com's FREE daily email newsletter.