Great West Life Assurance Co. Can lowered its stake in Gildan Activewear Inc. (NYSE:GIL – Get Rating) (TSE:GIL) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 131,528 shares of the textile maker’s stock after selling 4,296 shares during the period. Great West Life Assurance Co. Can owned 0.07% of Gildan Activewear worth $3,726,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Gildan Activewear by 180.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 927 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 597 shares in the last quarter. Addison Advisors LLC boosted its stake in Gildan Activewear by 311.9% in the third quarter. Addison Advisors LLC now owns 1,071 shares of the textile maker’s stock valued at $30,000 after acquiring an additional 811 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Gildan Activewear by 36.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,381 shares of the textile maker’s stock valued at $127,000 after acquiring an additional 896 shares during the last quarter. Advisors Asset Management Inc. bought a new position in Gildan Activewear in the second quarter valued at approximately $145,000. Finally, SG Americas Securities LLC boosted its stake in Gildan Activewear by 30.7% in the second quarter. SG Americas Securities LLC now owns 5,082 shares of the textile maker’s stock valued at $146,000 after acquiring an additional 1,194 shares during the last quarter. Institutional investors and hedge funds own 75.07% of the company’s stock.
Analyst Upgrades and Downgrades
GIL has been the topic of a number of recent research reports. National Bank Financial raised their price objective on shares of Gildan Activewear from C$43.00 to C$45.00 in a research note on Monday, October 17th. TD Securities cut shares of Gildan Activewear from a “buy” rating to a “hold” rating and reduced their price objective for the company from $43.00 to $36.00 in a research note on Monday. StockNews.com initiated coverage on shares of Gildan Activewear in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Royal Bank of Canada reduced their price objective on shares of Gildan Activewear from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 2nd. Finally, Desjardins reissued a “buy” rating on shares of Gildan Activewear in a research report on Friday, October 14th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.38.
Gildan Activewear Trading Down 1.6 %
Shares of NYSE GIL opened at $30.45 on Tuesday. The company’s fifty day moving average is $28.66 and its 200-day moving average is $29.51. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 9.09, a P/E/G ratio of 1.12 and a beta of 1.24. Gildan Activewear Inc. has a twelve month low of $25.67 and a twelve month high of $41.91. The company has a quick ratio of 0.92, a current ratio of 2.58 and a debt-to-equity ratio of 0.46.
Gildan Activewear (NYSE:GIL – Get Rating) (TSE:GIL) last posted its quarterly earnings data on Thursday, November 3rd. The textile maker reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. The business had revenue of $850.00 million for the quarter, compared to analysts’ expectations of $836.47 million. Gildan Activewear had a net margin of 19.11% and a return on equity of 32.33%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 EPS. Equities research analysts predict that Gildan Activewear Inc. will post 3.13 EPS for the current year.
Gildan Activewear Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 19th. Investors of record on Wednesday, November 23rd were given a $0.169 dividend. The ex-dividend date of this dividend was Tuesday, November 22nd. This represents a $0.68 annualized dividend and a yield of 2.22%. Gildan Activewear’s dividend payout ratio is currently 20.30%.
About Gildan Activewear
Gildan Activewear, Inc is engaged in the manufacturing and sale of printwear and branded apparel. Its products include activewear, underwear, socks, hosiery, and legwear. The firm operates under the brand name Gildan, Alstyle, American Apparel, Comfort Colors, GOLD TOE, Anvil, Secret, Silks, and Peds.
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