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

Segall Bryant & Hamill LLC lessened its position in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 57.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 430,886 shares of the textile maker's stock after selling 583,409 shares during the period. Segall Bryant & Hamill LLC owned 0.27% of Gildan Activewear worth $20,299,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UniSuper Management Pty Ltd lifted its stake in Gildan Activewear by 69.2% in the first quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the textile maker's stock valued at $82,000 after buying an additional 900 shares during the period. Natixis bought a new position in Gildan Activewear during the first quarter worth $51,000. Canada Pension Plan Investment Board grew its holdings in Gildan Activewear by 16.1% in the first quarter. Canada Pension Plan Investment Board now owns 563,498 shares of the textile maker's stock worth $20,933,000 after purchasing an additional 78,338 shares during the period. 1832 Asset Management L.P. grew its holdings in Gildan Activewear by 4.1% in the first quarter. 1832 Asset Management L.P. now owns 143,368 shares of the textile maker's stock worth $5,323,000 after purchasing an additional 5,695 shares during the period. Finally, Lazard Asset Management LLC increased its stake in Gildan Activewear by 11.1% in the first quarter. Lazard Asset Management LLC now owns 876,617 shares of the textile maker's stock valued at $32,548,000 after purchasing an additional 87,456 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GIL. BMO Capital Markets increased their price objective 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. Canaccord Genuity Group raised their price objective on Gildan Activewear from $52.00 to $53.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Stifel Nicolaus boosted their price objective on Gildan Activewear from $54.00 to $60.00 and gave the company a "buy" rating in a report on Friday, November 1st. Royal Bank of Canada increased their target price on Gildan Activewear from $41.00 to $44.00 and gave the stock an "outperform" rating in a report on Friday, August 2nd. Finally, TD Securities lifted their price target on shares of Gildan Activewear from $56.00 to $58.00 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 given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $50.85.

Gildan Activewear Stock Up 0.2 %

Gildan Activewear stock opened at $49.01 on Thursday. 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 stock has a market cap of $7.55 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 1.83 and a beta of 1.44. Gildan Activewear Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $50.58. The firm's 50-day simple moving average is $47.58 and its 200 day simple moving average is $42.18.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, meeting 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 analyst estimates of $882.85 million. During the same period last year, the firm posted $0.74 EPS. The business's revenue was up 2.4% compared to the same quarter last year. Research analysts predict that Gildan Activewear Inc. will post 2.97 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.152 per share. This represents a $0.61 annualized dividend and a yield of 1.24%. The ex-dividend date is Thursday, November 21st. Gildan Activewear's dividend payout ratio (DPR) is 32.41%.

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.