Seizert Capital Partners LLC Purchases 40,271 Shares of Gildan Activewear Inc. (NYSE:GIL)

Seizert Capital Partners LLC increased its holdings in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 93.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 83,481 shares of the textile maker's stock after acquiring an additional 40,271 shares during the period. Seizert Capital Partners LLC owned about 0.05% of Gildan Activewear worth $3,933,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vaughan Nelson Investment Management L.P. grew its stake in Gildan Activewear by 2.8% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,618,420 shares of the textile maker's stock worth $76,244,000 after buying an additional 44,725 shares during the last quarter. Natixis Advisors LLC raised its stake in Gildan Activewear by 59.0% during the 3rd quarter. Natixis Advisors LLC now owns 523,035 shares of the textile maker's stock worth $24,640,000 after buying an additional 194,128 shares during the period. Zions Bancorporation N.A. grew its stake in Gildan Activewear by 46.1% in the third quarter. Zions Bancorporation N.A. now owns 16,200 shares of the textile maker's stock valued at $763,000 after acquiring an additional 5,110 shares during the period. Cumberland Partners Ltd bought a new stake in shares of Gildan Activewear in the third quarter worth about $231,000. Finally, Aigen Investment Management LP bought a new position in shares of Gildan Activewear during the 3rd quarter valued at about $323,000. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Stock Performance

Gildan Activewear stock traded up $0.16 during mid-day trading on Friday, hitting $48.29. 438,590 shares of the company's stock traded hands, compared to its average volume of 614,853. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. The firm has a 50 day simple moving average of $47.31 and a two-hundred day simple moving average of $41.86. Gildan Activewear Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $50.58. The stock has a market cap of $7.44 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 1.81 and a beta of 1.44.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.85. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The company had revenue of $891.10 million during the quarter, compared to analysts' expectations of $882.85 million. During the same quarter last year, the company posted $0.74 EPS. Gildan Activewear's quarterly revenue was up 2.4% compared to the same quarter last year. On average, research analysts expect that Gildan Activewear Inc. will post 2.97 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.152 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.26%. Gildan Activewear's dividend payout ratio (DPR) is currently 32.41%.

Analyst Upgrades and Downgrades

GIL has been the topic of a number of research reports. Citigroup lifted their price target on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a "buy" rating in a research note on Friday, November 1st. BMO Capital Markets boosted their price objective on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Stifel Nicolaus increased their target price on Gildan Activewear from $54.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, November 1st. TD Securities boosted their price target on Gildan Activewear from $56.00 to $58.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, CIBC increased their price objective on Gildan Activewear from $48.00 to $56.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $50.85.

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.