The Manufacturers Life Insurance Company Lowers Stock Position in Gildan Activewear Inc. (NYSE:GIL)

The Manufacturers Life Insurance Company trimmed its stake in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 81.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 469,513 shares of the textile maker's stock after selling 2,099,220 shares during the period. The Manufacturers Life Insurance Company owned 0.30% of Gildan Activewear worth $22,115,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Cooke & Bieler LP boosted its stake in Gildan Activewear by 2.7% during the 2nd quarter. Cooke & Bieler LP now owns 10,252,785 shares of the textile maker's stock worth $388,786,000 after purchasing an additional 271,273 shares during the last quarter. Cardinal Capital Management Inc. raised its holdings in Gildan Activewear by 1.5% in the 2nd quarter. Cardinal Capital Management Inc. now owns 2,907,144 shares of the textile maker's stock valued at $110,197,000 after acquiring an additional 42,094 shares during the last quarter. EdgePoint Investment Group Inc. lifted its stake in Gildan Activewear by 28.0% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker's stock worth $70,696,000 after purchasing an additional 407,113 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings 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 worth $76,244,000 after purchasing an additional 44,725 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Gildan Activewear by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,148,030 shares of the textile maker's stock valued at $43,533,000 after purchasing an additional 110,704 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company's stock.

Gildan Activewear Stock Up 0.1 %

Shares of Gildan Activewear stock traded up $0.06 during trading hours on Friday, reaching $49.62. 150,287 shares of the company were exchanged, compared to its average volume of 794,894. The stock's fifty day moving average is $48.15 and its 200 day moving average is $43.03. 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 firm has a market cap of $7.64 billion, a PE ratio of 19.61, a PEG ratio of 1.85 and a beta of 1.44. Gildan Activewear Inc. has a 1 year low of $30.68 and a 1 year high of $50.58.

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

Gildan Activewear Cuts Dividend

The business also recently announced 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 is Thursday, November 21st. Gildan Activewear's dividend payout ratio (DPR) is 32.41%.

Wall Street Analyst Weigh In

GIL has been the topic of a number of analyst reports. TD Securities lifted their price objective on Gildan Activewear from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Citigroup lifted their price target on Gildan Activewear from $54.00 to $59.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Canaccord Genuity Group increased their price target on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a "buy" rating in a research note on Friday, November 1st. BMO Capital Markets upped their price target on Gildan Activewear from $47.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, CIBC increased their target price 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. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average 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.