Gildan Activewear Inc. (NYSE:GIL) Shares Sold by Fmr LLC

FMR LLC reduced its stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 12.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,955,005 shares of the textile maker's stock after selling 1,262,822 shares during the quarter. FMR LLC owned about 5.81% of Gildan Activewear worth $421,524,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of GIL. Riverview Trust Co purchased a new position in shares of Gildan Activewear in the third quarter worth $29,000. Blue Trust Inc. lifted its position in Gildan Activewear by 96.1% during 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 period. Cullen Frost Bankers Inc. purchased a new stake in Gildan Activewear during the 2nd quarter valued at about $51,000. Tobam acquired a new position in shares of Gildan Activewear in the second quarter valued at about $53,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Gildan Activewear by 16.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker's stock worth $66,000 after purchasing an additional 274 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Price Performance

GIL traded up $0.06 during midday trading on Friday, hitting $49.62. 150,287 shares of the company traded hands, compared to its average volume of 718,442. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 1.85 and a beta of 1.44. The business has a 50 day simple moving average of $48.15 and a two-hundred day simple moving average of $42.98. 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 Inc. has a 52-week low of $30.68 and a 52-week 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 earnings per share for the quarter, meeting the consensus estimate of $0.85. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The business had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. During the same quarter last year, the business posted $0.74 earnings per share. The business's quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities analysts forecast that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be given 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 yield of 1.23%. Gildan Activewear's payout ratio is presently 32.41%.

Wall Street Analyst Weigh In

GIL has been the subject of a number of recent research reports. BMO Capital Markets raised their price target on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Canaccord Genuity Group raised their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a "buy" rating in a report on Friday, November 1st. CIBC upped their price target on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Stifel Nicolaus lifted their price objective on Gildan Activewear from $54.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada boosted their price objective on Gildan Activewear from $41.00 to $44.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $50.85.

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.