Massachusetts Financial Services Co. MA lessened its holdings in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 1.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,487,800 shares of the textile maker's stock after selling 26,329 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.95% of Gildan Activewear worth $70,090,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Riverview Trust Co acquired a new stake in shares of Gildan Activewear during the third quarter worth about $29,000. Blue Trust Inc. lifted its position in Gildan Activewear by 96.1% in the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker's stock valued at $38,000 after purchasing an additional 397 shares during the period. Natixis acquired a new stake in Gildan Activewear in the first quarter valued at about $51,000. Cullen Frost Bankers Inc. acquired a new stake in Gildan Activewear in the second quarter valued at about $51,000. Finally, Tobam acquired a new stake in Gildan Activewear in the second quarter valued at about $53,000. Institutional investors and hedge funds own 82.83% of the company's stock.
Analyst Upgrades and Downgrades
GIL has been the subject of a number of recent analyst reports. Citigroup raised their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a "buy" rating in a research report on Friday, November 1st. CIBC increased their target price 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 increased their target price on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a "buy" rating in a report on Friday, November 1st. Royal Bank of Canada increased their target price on shares of Gildan Activewear from $41.00 to $44.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Finally, Canaccord Genuity Group increased their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a "buy" rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Gildan Activewear has a consensus rating of "Moderate Buy" and an average target price of $50.85.
Read Our Latest Stock Report on GIL
Gildan Activewear Price Performance
Shares of Gildan Activewear stock traded up $0.11 during trading on Monday, hitting $49.94. 246,546 shares of the company's stock traded hands, compared to its average volume of 722,130. Gildan Activewear Inc. has a twelve month low of $30.68 and a twelve month high of $50.58. The company has a market cap of $7.69 billion, a PE ratio of 19.82, a PEG ratio of 1.86 and a beta of 1.44. The firm's fifty day moving average price is $47.77 and its 200 day moving average price is $42.48. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98.
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, hitting analysts' consensus estimates of $0.85. The business had revenue of $891.10 million during the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. Gildan Activewear's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 earnings per share. Analysts forecast that Gildan Activewear Inc. will post 2.97 earnings per share for the current year.
Gildan Activewear Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be issued a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear's dividend payout ratio is currently 32.41%.
About Gildan Activewear
(
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.
Featured Stories
Before you consider Gildan Activewear, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Gildan Activewear wasn't on the list.
While Gildan Activewear currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by clicking the link below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
