Fiera Capital Corp Raises Stock Position in Gildan Activewear Inc. (NYSE:GIL)

Fiera Capital Corp grew its holdings in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 5.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 255,734 shares of the textile maker's stock after buying an additional 12,933 shares during the period. Fiera Capital Corp owned approximately 0.16% of Gildan Activewear worth $12,053,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Riverview Trust Co bought a new stake in shares of Gildan Activewear in the 3rd quarter worth about $29,000. Blue Trust Inc. lifted its holdings in shares of Gildan Activewear by 96.1% in the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker's stock worth $38,000 after acquiring an additional 397 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Gildan Activewear in the 2nd quarter worth about $51,000. Natixis bought a new stake in shares of Gildan Activewear in the 1st quarter worth about $51,000. Finally, Tobam bought a new stake in shares of Gildan Activewear in the 2nd quarter worth about $53,000. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Stock Up 0.1 %

NYSE GIL traded up $0.07 during trading on Friday, reaching $49.27. 1,095,306 shares of the company's stock traded hands, compared to its average volume of 511,834. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 1.85 and a beta of 1.44. The company's 50 day simple moving average is $46.91 and its two-hundred day simple moving average is $41.40. Gildan Activewear Inc. has a 12-month low of $30.68 and a 12-month high of $50.58.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, meeting analysts' consensus estimates of $0.85. The business had revenue of $891.10 million for 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 company's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 EPS. As a group, sell-side analysts forecast 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 given a $0.152 dividend. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear's payout ratio is currently 32.41%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus raised their target price 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. Royal Bank of Canada lifted their price objective on shares of Gildan Activewear from $41.00 to $44.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. BMO Capital Markets lifted their price objective on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Canaccord Genuity Group lifted their price objective on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, TD Securities lifted their price objective on shares of Gildan Activewear from $56.00 to $58.00 and gave the company a "buy" rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Gildan Activewear has a consensus rating of "Moderate Buy" and an average price target of $50.85.

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.