National Bank of Canada FI Has $65.71 Million Holdings in Gildan Activewear Inc. (NYSE:GIL)

National Bank of Canada FI trimmed its stake in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 18.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,395,520 shares of the textile maker's stock after selling 323,692 shares during the quarter. National Bank of Canada FI owned about 0.91% of Gildan Activewear worth $65,705,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in shares of Gildan Activewear by 42.4% during the third quarter. Wellington Management Group LLP now owns 29,724 shares of the textile maker's stock worth $1,401,000 after acquiring an additional 8,855 shares during the period. Stifel Financial Corp lifted its holdings in Gildan Activewear by 7.2% during the 3rd quarter. Stifel Financial Corp now owns 92,054 shares of the textile maker's stock worth $4,337,000 after purchasing an additional 6,205 shares during the last quarter. Quantinno Capital Management LP boosted its stake in Gildan Activewear by 8.4% in the 3rd quarter. Quantinno Capital Management LP now owns 52,716 shares of the textile maker's stock valued at $2,483,000 after purchasing an additional 4,069 shares during the period. Janus Henderson Group PLC grew its holdings in Gildan Activewear by 3.6% in the 3rd quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker's stock valued at $322,298,000 after buying an additional 240,375 shares in the last quarter. Finally, HighTower Advisors LLC bought a new position in Gildan Activewear during the 3rd quarter worth $457,000. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Price Performance

Shares of Gildan Activewear stock traded down $0.88 during trading on Friday, reaching $48.24. 397,964 shares of the company's stock were exchanged, compared to its average volume of 736,112. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31. Gildan Activewear Inc. has a 1-year low of $30.68 and a 1-year high of $50.60. The company has a market cap of $7.43 billion, a P/E ratio of 19.07, a PEG ratio of 1.85 and a beta of 1.40. The firm's 50-day moving average price is $48.39 and its 200 day moving average price is $43.52.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, hitting 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 the consensus estimate of $882.85 million. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The business's quarterly revenue was up 2.4% on a year-over-year basis. As a group, research analysts anticipate that Gildan Activewear Inc. will post 2.97 earnings per share for the current year.

Gildan Activewear Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be paid a $0.152 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.61 annualized dividend and a dividend yield of 1.26%. Gildan Activewear's payout ratio is 32.41%.

Analysts Set New Price Targets

GIL has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their target price 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. CIBC boosted their price objective 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. BMO Capital Markets increased their target price on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Citigroup lifted their price target 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. Finally, TD Securities increased their price target on Gildan Activewear from $58.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, December 2nd. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Gildan Activewear has an average rating of "Moderate Buy" and an average target price of $51.05.

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.