Pragma Gestao DE Patrimonio Ltd. cut its stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 44.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 155,000 shares of the textile maker's stock after selling 125,000 shares during the quarter. Gildan Activewear accounts for about 3.8% of Pragma Gestao DE Patrimonio Ltd.'s portfolio, making the stock its 15th biggest position. Pragma Gestao DE Patrimonio Ltd. owned approximately 0.10% of Gildan Activewear worth $7,302,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Riverview Trust Co purchased a new stake in Gildan Activewear during the third quarter valued at about $29,000. Blue Trust Inc. grew its stake in shares of Gildan Activewear by 96.1% in 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 last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Gildan Activewear in the second quarter worth about $51,000. Natixis bought a new stake in shares of Gildan Activewear in the first quarter worth about $51,000. Finally, Tobam bought a new stake in shares of Gildan Activewear in the second quarter worth about $53,000. 82.83% of the stock is owned by hedge funds and other institutional investors.
Gildan Activewear Stock Performance
Shares of GIL stock traded up $0.07 during mid-day trading on Friday, reaching $49.27. 1,095,306 shares of the company's stock traded hands, compared to its average volume of 511,834. Gildan Activewear Inc. has a 12 month low of $30.68 and a 12 month high of $50.58. The firm has a 50 day moving average price of $46.91 and a two-hundred day moving average price of $41.40. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31. The firm has a market capitalization of $7.74 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 1.85 and a beta of 1.44.
Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.85. The firm 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%. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 EPS. On average, research analysts forecast that Gildan Activewear Inc. will post 2.97 EPS for the current year.
Gildan Activewear Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be paid a $0.152 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a yield of 1.23%. Gildan Activewear's dividend payout ratio is currently 32.41%.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on GIL shares. BMO Capital Markets raised their target price on Gildan Activewear from $47.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. CIBC lifted their price objective on Gildan Activewear from $48.00 to $56.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Citigroup lifted their price objective on Gildan Activewear from $54.00 to $59.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Canaccord Genuity Group lifted their price objective on Gildan Activewear from $52.00 to $53.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus lifted their price objective on Gildan Activewear from $54.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Gildan Activewear presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.85.
View Our Latest Stock Analysis on GIL
Gildan Activewear Company Profile
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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.
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