Segall Bryant & Hamill LLC Sells 583,409 Shares of Gildan Activewear Inc. (NYSE:GIL)

Segall Bryant & Hamill LLC lowered its holdings in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 57.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 430,886 shares of the textile maker's stock after selling 583,409 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.27% of Gildan Activewear worth $20,299,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Cooke & Bieler LP lifted its position in shares of Gildan Activewear by 2.7% during the second quarter. Cooke & Bieler LP now owns 10,252,785 shares of the textile maker's stock valued at $388,786,000 after buying an additional 271,273 shares during the last quarter. Cardinal Capital Management Inc. lifted its stake in shares of Gildan Activewear by 1.5% in the second quarter. Cardinal Capital Management Inc. now owns 2,907,144 shares of the textile maker's stock worth $110,197,000 after buying an additional 42,094 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Gildan Activewear by 14.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker's stock valued at $97,290,000 after purchasing an additional 324,304 shares during the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of Gildan Activewear by 28.0% in the second quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker's stock valued at $70,696,000 after purchasing an additional 407,113 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of Gildan Activewear by 2.8% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,618,420 shares of the textile maker's stock valued at $76,244,000 after buying an additional 44,725 shares during the period. Institutional investors own 82.83% of the company's stock.

Gildan Activewear Price Performance

Shares of GIL traded up $0.67 during mid-day trading on Thursday, hitting $49.48. 318,770 shares of the company traded hands, compared to its average volume of 725,765. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 1.83 and a beta of 1.44. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. The business has a 50-day moving average of $47.58 and a 200 day moving average of $42.18. Gildan Activewear Inc. has a one year low of $30.68 and a one year high of $50.58.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $891.10 million for the quarter, compared to analysts' expectations of $882.85 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The firm's revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 EPS. As a group, equities analysts expect that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be given a $0.152 dividend. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear's payout ratio is currently 32.41%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citigroup lifted their price target on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a "buy" rating in a research note 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 note on Friday, November 1st. Stifel Nicolaus boosted their price target on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. CIBC upped their price target on shares of Gildan Activewear from $48.00 to $56.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Finally, Canaccord Genuity Group raised their price target on Gildan Activewear from $52.00 to $53.00 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 company's stock. According to MarketBeat.com, Gildan Activewear has a consensus rating of "Moderate Buy" and an average target price of $50.85.

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.