Atom Investors LP Decreases Stock Holdings in Gildan Activewear Inc. (NYSE:GIL)

Atom Investors LP cut its holdings in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 73.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,529 shares of the textile maker's stock after selling 118,180 shares during the quarter. Atom Investors LP's holdings in Gildan Activewear were worth $2,004,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GIL. Simcoe Capital Management LLC lifted its stake in Gildan Activewear by 10.5% in the 3rd quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker's stock valued at $112,492,000 after buying an additional 226,695 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Gildan Activewear by 106.5% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 48,573 shares of the textile maker's stock valued at $2,286,000 after acquiring an additional 25,050 shares in the last quarter. Northwest & Ethical Investments L.P. increased its position in shares of Gildan Activewear by 8.3% during the third quarter. Northwest & Ethical Investments L.P. now owns 61,859 shares of the textile maker's stock worth $2,912,000 after purchasing an additional 4,748 shares in the last quarter. Hyperion Capital Advisors LP acquired a new position in Gildan Activewear in the 3rd quarter valued at $294,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Gildan Activewear by 92.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 135,933 shares of the textile maker's stock valued at $6,405,000 after purchasing an additional 65,428 shares in the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GIL shares. CIBC upped their target price on shares of Gildan Activewear from $48.00 to $56.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Citigroup increased their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a "buy" rating in a report on Friday, November 1st. Canaccord Genuity Group raised their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. TD Securities upped their price target on Gildan Activewear from $58.00 to $60.00 and gave the company a "buy" rating in a research report on Monday. Finally, BMO Capital Markets lifted their price objective on Gildan Activewear from $47.00 to $58.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.05.

Gildan Activewear Trading Up 0.6 %

NYSE GIL traded up $0.29 during trading hours on Tuesday, reaching $50.40. The company had a trading volume of 124,837 shares, compared to its average volume of 714,807. 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 capitalization of $7.76 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 1.85 and a beta of 1.40. The stock has a 50-day moving average of $48.22 and a 200 day moving average of $43.14. Gildan Activewear Inc. has a 1-year low of $30.68 and a 1-year high of $50.60.

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

Gildan Activewear Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be issued a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear's dividend payout ratio (DPR) is 32.41%.

Gildan Activewear Company 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.