Gildan Activewear Inc. (NYSE:GIL) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 21.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 262,900 shares of the textile maker's stock after selling 70,239 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.17% of Gildan Activewear worth $12,373,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Cooke & Bieler LP boosted its holdings in Gildan Activewear by 2.7% in the 2nd quarter. Cooke & Bieler LP now owns 10,252,785 shares of the textile maker's stock worth $388,786,000 after buying an additional 271,273 shares during the last quarter. Cardinal Capital Management Inc. boosted its stake in shares of Gildan Activewear by 1.5% in the second quarter. Cardinal Capital Management Inc. now owns 2,907,144 shares of the textile maker's stock worth $110,197,000 after acquiring an additional 42,094 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Gildan Activewear by 14.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker's stock worth $97,290,000 after purchasing an additional 324,304 shares in the last quarter. EdgePoint Investment Group Inc. raised its stake in Gildan Activewear by 28.0% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker's stock valued at $70,696,000 after purchasing an additional 407,113 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in Gildan Activewear by 2.8% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,618,420 shares of the textile maker's stock valued at $76,244,000 after purchasing an additional 44,725 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on GIL shares. TD Securities raised their target price on shares of Gildan Activewear from $56.00 to $58.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Royal Bank of Canada lifted their target price on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Stifel Nicolaus raised their price target on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Citigroup upped their price objective on Gildan Activewear from $54.00 to $59.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, BMO Capital Markets lifted their target price on Gildan Activewear from $47.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Gildan Activewear has a consensus rating of "Moderate Buy" and an average price target of $50.85.

Gildan Activewear Stock Up 0.7 %

Gildan Activewear stock traded up $0.35 during mid-day trading on Friday, reaching $49.83. 324,874 shares of the company's stock were exchanged, compared to its average volume of 723,999. The company has a fifty day moving average of $47.67 and a 200-day moving average of $42.23. The company has a market cap of $7.68 billion, a P/E ratio of 19.56, a P/E/G ratio of 1.83 and a beta of 1.44. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81. Gildan Activewear Inc. has a twelve month low of $30.68 and a twelve month high of $50.58.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The firm had revenue of $891.10 million during the quarter, compared to analysts' expectations of $882.85 million. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. Gildan Activewear's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 EPS. Sell-side analysts expect that Gildan Activewear Inc. will post 2.97 EPS for the current year.

Gildan Activewear Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.152 per share. This represents a $0.61 annualized dividend and a yield of 1.22%. The ex-dividend date is Thursday, November 21st. Gildan Activewear's dividend payout ratio (DPR) is presently 32.41%.

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.