Cerity Partners LLC Has $835,000 Stock Holdings in Gildan Activewear Inc. (NYSE:GIL)

Cerity Partners LLC boosted its position in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 171.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,720 shares of the textile maker's stock after purchasing an additional 11,184 shares during the period. Cerity Partners LLC's holdings in Gildan Activewear were worth $835,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Tacita Capital Inc grew its stake in shares of Gildan Activewear by 1,025.5% in the 3rd quarter. Tacita Capital Inc now owns 13,056 shares of the textile maker's stock valued at $615,000 after buying an additional 11,896 shares in the last quarter. Intech Investment Management LLC acquired a new position in Gildan Activewear during the third quarter worth $544,000. Bridges Investment Management Inc. bought a new position in Gildan Activewear during the second quarter valued at about $1,425,000. Vaughan Nelson Investment Management L.P. lifted its position in shares of Gildan Activewear by 31.5% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,573,695 shares of the textile maker's stock worth $59,674,000 after buying an additional 377,135 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Gildan Activewear by 7,709.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 125,181 shares of the textile maker's stock worth $5,899,000 after acquiring an additional 123,578 shares in the last quarter. Hedge funds and other institutional investors own 82.83% of the company's stock.

Gildan Activewear Stock Performance

GIL stock traded down $0.88 during trading on Friday, reaching $48.24. 373,956 shares of the stock were exchanged, compared to its average volume of 714,738. Gildan Activewear Inc. has a twelve month low of $30.68 and a twelve 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 company has a market capitalization of $7.43 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.87 and a beta of 1.40. The stock has a 50 day simple moving average of $48.36 and a 200-day simple moving average of $43.32.

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

Gildan Activewear Cuts Dividend

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

Wall Street Analyst Weigh In

GIL has been the topic of a number of recent analyst reports. CIBC raised their price objective on Gildan Activewear from $48.00 to $56.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Canaccord Genuity Group lifted their price target on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a "buy" rating in a research report on Friday, November 1st. BMO Capital Markets raised their target price on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. TD Securities lifted their target price on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a "buy" rating in a report on Monday. Finally, Stifel Nicolaus upped their price target 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. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.