Gildan Activewear Inc. (NYSE:GIL) Shares Sold by Lincluden Management Ltd.

Lincluden Management Ltd. trimmed its holdings in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 32.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,937 shares of the textile maker's stock after selling 29,610 shares during the period. Lincluden Management Ltd.'s holdings in Gildan Activewear were worth $2,870,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Gildan Activewear in the 1st quarter worth approximately $692,000. Canada Pension Plan Investment Board boosted its holdings in shares of Gildan Activewear by 16.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 563,498 shares of the textile maker's stock valued at $20,933,000 after purchasing an additional 78,338 shares during the last quarter. BW Gestao de Investimentos Ltda. acquired a new position in shares of Gildan Activewear in the 1st quarter valued at $5,570,000. Boston Partners boosted its holdings in shares of Gildan Activewear by 217.3% in the 1st quarter. Boston Partners now owns 357,910 shares of the textile maker's stock valued at $13,281,000 after purchasing an additional 245,119 shares during the last quarter. Finally, Bridges Investment Management Inc. acquired a new position in shares of Gildan Activewear in the 2nd quarter valued at $1,425,000. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Stock Performance

Shares of NYSE:GIL traded up $0.76 during trading on Friday, reaching $49.66. 531,424 shares of the company's stock traded hands, compared to its average volume of 709,643. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97. Gildan Activewear Inc. has a 12 month low of $28.95 and a 12 month high of $49.92. The company has a 50 day moving average of $46.31 and a 200-day moving average of $40.77. The stock has a market capitalization of $7.80 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 1.83 and a beta of 1.43.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, topping the consensus estimate of $0.84 by $0.01. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The firm had revenue of $891.10 million during the quarter, compared to analysts' expectations of $882.85 million. During the same quarter in the prior year, the firm earned $0.74 EPS. Gildan Activewear's quarterly revenue was up 2.4% on a year-over-year basis. On average, equities analysts expect that Gildan Activewear Inc. will post 2.93 EPS for the current year.

Gildan Activewear Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be given a $0.152 dividend. This represents a $0.61 annualized dividend and a yield of 1.22%. The ex-dividend date is Thursday, November 21st. Gildan Activewear's dividend payout ratio (DPR) is 33.61%.

Wall Street Analyst Weigh In

GIL has been the topic of several recent research reports. Canaccord Genuity Group lifted 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. TD Securities lifted their target price on shares of Gildan Activewear from $56.00 to $58.00 and gave the company a "buy" rating in a report on Friday. CIBC lifted 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. BMO Capital Markets boosted their price objective on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Stifel Nicolaus boosted 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. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Gildan Activewear currently has an average rating of "Moderate Buy" and an average price target of $51.05.

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.