Sanctuary Advisors LLC purchased a new stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 19,450 shares of the textile maker's stock, valued at approximately $969,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Simcoe Capital Management LLC boosted its stake in Gildan Activewear by 10.5% in the third quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker's stock valued at $112,492,000 after acquiring an additional 226,695 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Gildan Activewear in the 3rd quarter worth $544,000. Tacita Capital Inc grew its stake in Gildan Activewear by 1,025.5% during the 3rd quarter. Tacita Capital Inc now owns 13,056 shares of the textile maker's stock worth $615,000 after buying an additional 11,896 shares during the last quarter. Bridges Investment Management Inc. acquired a new position in Gildan Activewear during the 2nd quarter valued at about $1,425,000. Finally, Allspring Global Investments Holdings LLC raised its stake in Gildan Activewear by 7,709.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 125,181 shares of the textile maker's stock valued at $5,899,000 after buying an additional 123,578 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company's stock.
Gildan Activewear Stock Performance
Shares of GIL stock traded down $0.03 on Monday, hitting $46.75. The company had a trading volume of 616,781 shares, compared to its average volume of 706,439. Gildan Activewear Inc. has a twelve month low of $30.68 and a twelve month high of $50.60. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81. The firm has a market cap of $7.15 billion, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 1.82 and a beta of 1.40. The company has a 50-day moving average price of $48.57 and a 200-day moving average price of $44.33.
Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its quarterly earnings results 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 company had revenue of $891.10 million during the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. Gildan Activewear's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 earnings per share. As a group, equities research analysts predict that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.
Gildan Activewear Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, November 21st were issued a $0.152 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a yield of 1.30%. Gildan Activewear's payout ratio is 32.41%.
Analyst Ratings Changes
GIL has been the topic of several recent analyst reports. Canaccord Genuity Group upped their price objective 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. BMO Capital Markets upped their price target on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. TD Securities raised their price target on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, December 2nd. 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. Finally, Stifel Nicolaus raised their target price on Gildan Activewear from $54.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Gildan Activewear presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.05.
Check Out Our Latest Report on GIL
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.
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