Anson Funds Management LP Decreases Stake in Gildan Activewear Inc. (NYSE:GIL)

Anson Funds Management LP lowered its stake in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 96.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,000 shares of the textile maker's stock after selling 1,989,114 shares during the quarter. Anson Funds Management LP's holdings in Gildan Activewear were worth $3,059,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in GIL. Riverview Trust Co acquired a new stake in Gildan Activewear in the 3rd quarter valued at $29,000. Blue Trust Inc. grew its holdings in Gildan Activewear by 96.1% during the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker's stock worth $38,000 after purchasing an additional 397 shares during the period. Cullen Frost Bankers Inc. acquired a new position in shares of Gildan Activewear in the second quarter valued at $51,000. Tobam acquired a new position in Gildan Activewear in the 2nd quarter valued at about $53,000. Finally, CWM LLC increased its stake in shares of Gildan Activewear by 23.0% during the third quarter. CWM LLC now owns 1,698 shares of the textile maker's stock worth $80,000 after purchasing an additional 318 shares during the period. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Stock Performance

GIL stock traded down $0.88 on Friday, hitting $48.24. The company had a trading volume of 397,964 shares, compared to its average volume of 736,112. The stock's 50-day simple moving average is $48.39 and its 200 day simple moving average is $43.52. Gildan Activewear Inc. has a 12-month low of $30.68 and a 12-month high of $50.60. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. The stock has a market cap of $7.43 billion, a price-to-earnings ratio of 19.07, a P/E/G ratio of 1.85 and a beta of 1.40.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. The firm had revenue of $891.10 million for the quarter, compared to analysts' expectations of $882.85 million. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The business's revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 earnings per share. As a group, equities research analysts expect that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be paid a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Thursday, November 21st. Gildan Activewear's dividend payout ratio (DPR) is currently 32.41%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GIL shares. TD Securities lifted their price objective on Gildan Activewear from $58.00 to $60.00 and gave the company a "buy" rating in a report on Monday, December 2nd. Stifel Nicolaus increased their price target on Gildan Activewear from $54.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, November 1st. BMO Capital Markets lifted their price target on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. CIBC upped their price objective on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Canaccord Genuity Group raised their target price on Gildan Activewear from $52.00 to $53.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Gildan Activewear currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.05.

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.