Captrust Financial Advisors Decreases Stock Holdings in Gildan Activewear Inc. (NYSE:GIL)

Captrust Financial Advisors decreased its holdings in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 44.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,042 shares of the textile maker's stock after selling 25,281 shares during the period. Captrust Financial Advisors' holdings in Gildan Activewear were worth $1,462,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Intech Investment Management LLC acquired a new position in Gildan Activewear during the third quarter worth $544,000. Tacita Capital Inc grew its stake in shares of Gildan Activewear by 1,025.5% during the 3rd quarter. Tacita Capital Inc now owns 13,056 shares of the textile maker's stock worth $615,000 after purchasing an additional 11,896 shares during the period. Bridges Investment Management Inc. purchased a new position in shares of Gildan Activewear in the 2nd quarter valued at about $1,425,000. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Gildan Activewear by 31.5% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,573,695 shares of the textile maker's stock valued at $59,674,000 after purchasing an additional 377,135 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Gildan Activewear by 7,709.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 125,181 shares of the textile maker's stock valued at $5,899,000 after purchasing an additional 123,578 shares during the period. 82.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Stifel Nicolaus increased their target price on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a "buy" rating in a report on Friday, November 1st. Citigroup raised their price objective on Gildan Activewear from $54.00 to $59.00 and gave the company a "buy" rating in a research note on Friday, November 1st. CIBC boosted their target price on Gildan Activewear from $48.00 to $56.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. TD Securities raised 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, December 2nd. Finally, Canaccord Genuity Group raised their price objective 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. Two 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 stock presently has a consensus rating of "Moderate Buy" and an average target price of $51.05.

Gildan Activewear Trading Down 1.8 %

NYSE GIL traded down $0.88 during trading hours on Friday, hitting $48.24. 397,964 shares of the company's stock were exchanged, compared to its average volume of 736,112. The business's 50 day moving average is $48.39 and its 200-day moving average is $43.46. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31. Gildan Activewear Inc. has a 12-month low of $30.68 and a 12-month high of $50.60. The firm has a market capitalization of $7.43 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 1.85 and a beta of 1.40.

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

Gildan Activewear Cuts Dividend

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