JPMorgan Chase & Co. Sells 33,582 Shares of Gildan Activewear Inc. (NYSE:GIL)

JPMorgan Chase & Co. lessened its holdings in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 5.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 578,722 shares of the textile maker's stock after selling 33,582 shares during the period. JPMorgan Chase & Co. owned about 0.38% of Gildan Activewear worth $27,264,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Lord Abbett & CO. LLC purchased a new position in shares of Gildan Activewear during the third quarter valued at approximately $24,262,000. Franklin Resources Inc. raised its holdings in Gildan Activewear by 6.5% in the 3rd quarter. Franklin Resources Inc. now owns 35,135 shares of the textile maker's stock worth $1,702,000 after purchasing an additional 2,138 shares in the last quarter. Synovus Financial Corp lifted its position in shares of Gildan Activewear by 76.1% in the 3rd quarter. Synovus Financial Corp now owns 40,798 shares of the textile maker's stock worth $1,922,000 after purchasing an additional 17,634 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Gildan Activewear during the 3rd quarter valued at about $597,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Gildan Activewear during the 3rd quarter valued at about $969,000. Institutional investors own 82.83% of the company's stock.

Gildan Activewear Stock Up 0.9 %

Gildan Activewear stock traded up $0.41 during trading hours on Wednesday, hitting $46.91. The stock had a trading volume of 617,040 shares, compared to its average volume of 360,028. The stock's 50-day moving average price is $48.40 and its 200-day moving average price is $45.02. Gildan Activewear Inc. has a 12-month low of $30.68 and a 12-month high of $50.60. 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 stock has a market capitalization of $7.17 billion, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $891.10 million for 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%. The firm's quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.74 EPS. Equities research analysts anticipate that Gildan Activewear Inc. will post 2.97 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, November 21st were paid a $0.152 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.30%. Gildan Activewear's dividend payout ratio is presently 32.41%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Canaccord Genuity Group raised their price objective 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. BMO Capital Markets lifted their price target on Gildan Activewear from $47.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Citigroup increased their price objective on Gildan Activewear from $54.00 to $59.00 and gave the stock a "buy" rating in a report on Friday, November 1st. TD Securities raised their price objective on Gildan Activewear from $58.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, December 2nd. Finally, Stifel Nicolaus increased their price target on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $52.61.

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.