Natixis Advisors LLC Buys 194,128 Shares of Gildan Activewear Inc. (NYSE:GIL)

Natixis Advisors LLC raised its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 59.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 523,035 shares of the textile maker’s stock after purchasing an additional 194,128 shares during the period. Natixis Advisors LLC owned approximately 0.33% of Gildan Activewear worth $24,640,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Riverview Trust Co acquired a new position in shares of Gildan Activewear during the third quarter valued at about $29,000. Blue Trust Inc. lifted its position in shares of Gildan Activewear by 96.1% in the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock worth $38,000 after acquiring an additional 397 shares during the period. Natixis acquired a new stake in shares of Gildan Activewear during the 1st quarter worth approximately $51,000. Cullen Frost Bankers Inc. bought a new stake in shares of Gildan Activewear during the second quarter valued at approximately $51,000. Finally, Tobam acquired a new position in shares of Gildan Activewear in the second quarter valued at $53,000. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Trading Up 0.7 %

GIL stock opened at $48.63 on Tuesday. 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 stock has a market capitalization of $7.49 billion, a price-to-earnings ratio of 19.22, a P/E/G ratio of 1.81 and a beta of 1.44. The business has a fifty day moving average price of $47.31 and a 200 day moving average price of $41.92. Gildan Activewear Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $50.58.

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

Gildan Activewear Cuts Dividend

The business also recently disclosed 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 annualized dividend and a yield of 1.25%. The ex-dividend date is Thursday, November 21st. Gildan Activewear’s dividend payout ratio (DPR) is presently 32.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. TD Securities lifted their price target on shares of Gildan Activewear from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Citigroup lifted their target price on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets upped their target price on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Royal Bank of Canada raised their price target on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group lifted their price objective on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.85.

About Gildan Activewear

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.