Gildan Activewear Inc. (NYSE:GIL) is Simcoe Capital Management LLC's 2nd Largest Position

Simcoe Capital Management LLC raised its stake in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 10.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,387,865 shares of the textile maker's stock after purchasing an additional 226,695 shares during the period. Gildan Activewear accounts for about 14.8% of Simcoe Capital Management LLC's portfolio, making the stock its 2nd biggest position. Simcoe Capital Management LLC owned about 1.55% of Gildan Activewear worth $112,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Riverview Trust Co bought a new stake in Gildan Activewear in the third quarter worth $29,000. Blue Trust Inc. boosted its stake in shares of 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 purchasing an additional 397 shares during the period. Cullen Frost Bankers Inc. bought a new position in shares of Gildan Activewear during the second quarter valued at approximately $51,000. Tobam bought a new position in Gildan Activewear in the 2nd quarter valued at $53,000. Finally, EverSource Wealth Advisors LLC grew its holdings 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. Hedge funds and other institutional investors own 82.83% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group boosted their price objective on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Stifel Nicolaus increased their price objective on Gildan Activewear from $54.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. TD Securities lifted 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. Citigroup upped their target price on Gildan Activewear from $54.00 to $59.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Finally, BMO Capital Markets raised their price target on Gildan Activewear from $47.00 to $58.00 and gave the company an "outperform" rating in a research note 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 price target of $51.05.

Gildan Activewear Stock Up 1.4 %

Shares of NYSE GIL traded up $0.69 during trading hours on Monday, hitting $50.31. 269,640 shares of the stock were exchanged, compared to its average volume of 716,479. Gildan Activewear Inc. has a 12 month low of $30.68 and a 12 month high of $50.60. The firm has a fifty day moving average price of $48.15 and a 200-day moving average price of $43.03. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81. The company has a market cap of $7.75 billion, a PE ratio of 19.89, a PEG ratio of 1.85 and a beta of 1.44.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 EPS 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 firm had revenue of $891.10 million during the quarter, compared to analyst estimates of $882.85 million. During the same quarter in the prior year, the business posted $0.74 EPS. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. On average, sell-side analysts expect that Gildan Activewear Inc. will post 2.97 EPS for the current year.

Gildan Activewear Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.152 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.61 annualized dividend and a dividend yield of 1.21%. Gildan Activewear's dividend payout ratio (DPR) is currently 32.41%.

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.