Gildan Activewear Inc. (NYSE:GIL) Shares Sold by Smith Thornton Advisors LLC

Smith Thornton Advisors LLC decreased its position in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 55.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,178 shares of the textile maker's stock after selling 10,365 shares during the period. Smith Thornton Advisors LLC's holdings in Gildan Activewear were worth $385,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Gildan Activewear in the first quarter valued at $692,000. Canada Pension Plan Investment Board boosted 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 valued at $20,933,000 after acquiring an additional 78,338 shares during the last quarter. Boston Partners grew its holdings in shares of Gildan Activewear by 217.3% during the 1st quarter. Boston Partners now owns 357,910 shares of the textile maker's stock worth $13,281,000 after purchasing an additional 245,119 shares during the period. Bridges Investment Management Inc. purchased a new stake in Gildan Activewear during the second quarter worth approximately $1,425,000. Finally, Vaughan Nelson Investment Management L.P. increased its position in shares of Gildan Activewear by 31.5% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,573,695 shares of the textile maker's stock worth $59,674,000 after acquiring an additional 377,135 shares in the last quarter. Hedge funds and other institutional investors own 82.83% of the company's stock.

Gildan Activewear Stock Performance

Gildan Activewear stock traded down $0.22 during mid-day trading on Friday, reaching $48.98. The company's stock had a trading volume of 574,137 shares, compared to its average volume of 710,621. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. Gildan Activewear Inc. has a twelve month low of $30.68 and a twelve month high of $50.58. The business has a 50 day moving average price of $46.84 and a 200-day moving average price of $41.26. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 1.84 and a beta of 1.44.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, meeting analysts' consensus estimates of $0.85. The business 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 prior year, the firm earned $0.74 EPS. Sell-side analysts predict that Gildan Activewear Inc. will post 2.97 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 1.24%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear's dividend payout ratio (DPR) is 32.41%.

Wall Street Analysts Forecast Growth

GIL has been the subject of a number of analyst reports. Canaccord Genuity Group upped their price target on Gildan Activewear from $52.00 to $53.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Citigroup upped their target price 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. Royal Bank of Canada boosted their price objective on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an "outperform" rating in a report on Friday, August 2nd. TD Securities raised their target price on Gildan Activewear from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Finally, CIBC boosted their price target on Gildan Activewear from $48.00 to $56.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Three equities research 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 an average price target 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.