Kovitz Investment Group Partners LLC Sells 10,280 Shares of Gildan Activewear Inc. (NYSE:GIL)

Kovitz Investment Group Partners LLC reduced its stake in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 33.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,044 shares of the textile maker's stock after selling 10,280 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Gildan Activewear were worth $860,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Riverview Trust Co acquired a new stake in Gildan Activewear during the 3rd quarter worth $29,000. Blue Trust Inc. raised its position in shares of 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 purchasing an additional 397 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in shares of Gildan Activewear during the second quarter worth about $51,000. Tobam bought a new position in shares of Gildan Activewear during the 2nd quarter valued at about $53,000. Finally, CWM LLC grew its position in shares of Gildan Activewear by 23.0% in the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker's stock valued at $80,000 after purchasing an additional 318 shares during the period. 82.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on GIL shares. BMO Capital Markets raised their target price on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Stifel Nicolaus raised their price objective 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. TD Securities upped their target price on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, December 2nd. Citigroup lifted their price target on Gildan Activewear from $54.00 to $59.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Finally, Canaccord Genuity Group boosted their price target on Gildan Activewear from $52.00 to $53.00 and gave the company 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.05.

Gildan Activewear Stock Up 0.3 %

Shares of NYSE GIL traded up $0.13 during mid-day trading on Thursday, hitting $48.95. The company had a trading volume of 312,249 shares, compared to its average volume of 711,565. 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 firm has a 50-day simple moving average of $48.47 and a two-hundred day simple moving average of $43.71. The company has a market capitalization of $7.54 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 1.80 and a beta of 1.40. Gildan Activewear Inc. has a one year low of $30.68 and a one year high of $50.60.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, meeting analysts' consensus estimates 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 the consensus estimate of $882.85 million. During the same period last year, the company earned $0.74 earnings per share. The business's revenue was up 2.4% compared to the same quarter last year. On average, equities analysts expect that Gildan Activewear Inc. will post 2.97 EPS for the current year.

Gildan Activewear Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.152 per share. This represents a $0.61 annualized dividend and a yield of 1.24%. The ex-dividend date is Thursday, November 21st. Gildan Activewear's dividend payout ratio (DPR) is currently 32.41%.

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.