Charles Schwab Investment Management Inc. Cuts Position in Gildan Activewear Inc. (NYSE:GIL)

Charles Schwab Investment Management Inc. cut its position in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 2.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 466,522 shares of the textile maker's stock after selling 12,033 shares during the period. Charles Schwab Investment Management Inc. owned 0.30% of Gildan Activewear worth $21,982,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new stake in shares of Gildan Activewear during the 3rd quarter worth about $544,000. Seizert Capital Partners LLC raised its holdings in Gildan Activewear by 93.2% in the 3rd quarter. Seizert Capital Partners LLC now owns 83,481 shares of the textile maker's stock worth $3,933,000 after purchasing an additional 40,271 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in Gildan Activewear by 2.8% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,618,420 shares of the textile maker's stock worth $76,244,000 after purchasing an additional 44,725 shares in the last quarter. Natixis Advisors LLC grew its holdings in Gildan Activewear by 59.0% in the third quarter. Natixis Advisors LLC now owns 523,035 shares of the textile maker's stock valued at $24,640,000 after purchasing an additional 194,128 shares during the period. Finally, Zions Bancorporation N.A. increased its position in shares of Gildan Activewear by 46.1% in the third quarter. Zions Bancorporation N.A. now owns 16,200 shares of the textile maker's stock valued at $763,000 after buying an additional 5,110 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company's stock.

Gildan Activewear Trading Down 1.8 %

NYSE:GIL traded down $0.88 during trading hours on Friday, hitting $48.24. The company had a trading volume of 373,948 shares, compared to its average volume of 714,454. Gildan Activewear Inc. has a 1 year low of $30.68 and a 1 year high of $50.60. The company has a market cap of $7.43 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.87 and a beta of 1.40. The company has a 50-day moving average of $48.36 and a 200 day moving average of $43.32. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81.

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 earnings per share (EPS) 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 firm had revenue of $891.10 million during the quarter, compared to analysts' expectations of $882.85 million. During the same period last year, the business earned $0.74 earnings per share. Gildan Activewear's revenue was up 2.4% compared to the same quarter last year. Sell-side analysts expect that Gildan Activewear Inc. will post 2.97 earnings per share for the current year.

Gildan Activewear Cuts Dividend

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

Analyst Upgrades and Downgrades

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

About Gildan Activewear

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.