Cannell & Spears LLC Sells 157,009 Shares of Gildan Activewear Inc. (NYSE:GIL)

Cannell & Spears LLC trimmed its position in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 29.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 368,881 shares of the textile maker's stock after selling 157,009 shares during the quarter. Cannell & Spears LLC owned 0.24% of Gildan Activewear worth $17,356,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Plato Investment Management Ltd acquired a new position in Gildan Activewear in the fourth quarter valued at about $28,000. Fifth Third Bancorp grew its position in shares of Gildan Activewear by 61.8% in the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker's stock valued at $41,000 after purchasing an additional 333 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in Gildan Activewear by 500.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker's stock worth $42,000 after buying an additional 745 shares during the period. Venturi Wealth Management LLC lifted its stake in Gildan Activewear by 899.0% in the fourth quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker's stock valued at $47,000 after buying an additional 908 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Gildan Activewear by 561.9% during the fourth quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker's stock worth $67,000 after acquiring an additional 1,208 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company's stock.

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Gildan Activewear Stock Performance

Shares of GIL stock traded down $1.32 during trading on Friday, reaching $40.47. 1,157,837 shares of the company's stock were exchanged, compared to its average volume of 639,599. The firm's fifty day moving average price is $49.68 and its 200-day moving average price is $48.62. Gildan Activewear Inc. has a twelve month low of $32.23 and a twelve month high of $55.39. The stock has a market capitalization of $6.15 billion, a PE ratio of 16.17, a PEG ratio of 1.76 and a beta of 1.39. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing analysts' consensus estimates of $1.13 by ($0.30). The company had revenue of $822.00 million during the quarter, compared to analyst estimates of $805.75 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The firm's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company posted $0.75 EPS. As a group, sell-side analysts anticipate that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th will be given a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Wednesday, March 12th. This is a boost from Gildan Activewear's previous quarterly dividend of $0.15. Gildan Activewear's payout ratio is presently 36.00%.

Analyst Ratings Changes

Several research firms recently commented on GIL. Citigroup boosted their price objective on shares of Gildan Activewear from $59.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. CIBC lifted their target price on Gildan Activewear from $56.00 to $60.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. TD Securities boosted their target price on Gildan Activewear from $62.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. BMO Capital Markets lifted their price objective on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Finally, Canaccord Genuity Group increased their target price on shares of Gildan Activewear from $53.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Gildan Activewear currently has a consensus rating of "Buy" and a consensus price target of $60.00.

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.