UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 66.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 214,591 shares of the textile maker's stock after selling 423,125 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.14% of Gildan Activewear worth $10,109,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Riverview Trust Co acquired a new stake in Gildan Activewear during the third quarter worth $29,000. Blue Trust Inc. increased its stake in Gildan Activewear by 96.1% during the third 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. acquired a new stake in Gildan Activewear during the second quarter worth $51,000. Tobam acquired a new stake in Gildan Activewear during the second quarter worth $53,000. Finally, CWM LLC grew its stake in shares of Gildan Activewear by 23.0% in the third quarter. CWM LLC now owns 1,698 shares of the textile maker's stock valued at $80,000 after buying an additional 318 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company's stock.
Analyst Ratings Changes
GIL has been the subject of a number of recent research reports. CIBC lifted 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. Canaccord Genuity Group lifted their target price on Gildan Activewear from $52.00 to $53.00 and gave the company a "buy" rating in a report on Friday, November 1st. 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 report on Friday, November 1st. Stifel Nicolaus lifted their target price on Gildan Activewear from $54.00 to $60.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, Citigroup lifted their price target on Gildan Activewear from $54.00 to $59.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Gildan Activewear presently has a consensus rating of "Moderate Buy" and an average target price of $51.05.
Read Our Latest Report on GIL
Gildan Activewear Stock Performance
Shares of Gildan Activewear stock traded down $0.40 on Monday, hitting $47.84. The stock had a trading volume of 621,998 shares, compared to its average volume of 714,691. Gildan Activewear Inc. has a 52-week low of $30.68 and a 52-week 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 stock has a market cap of $7.37 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 1.80 and a beta of 1.40. The company's 50 day moving average price is $48.41 and its 200 day moving average price is $43.60.
Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted 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 during the quarter, compared to the consensus estimate of $882.85 million. During the same period in the previous year, the business earned $0.74 EPS. The business's quarterly revenue was up 2.4% on a year-over-year basis. On average, research analysts anticipate that Gildan Activewear Inc. will post 2.97 EPS for the current year.
Gildan Activewear Cuts Dividend
The business 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 $0.152 dividend. This represents a $0.61 annualized dividend and a yield of 1.27%. The ex-dividend date is Thursday, November 21st. Gildan Activewear's dividend payout ratio (DPR) is presently 32.41%.
Gildan Activewear Company Profile
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Free Report)
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.
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