Atom Investors LP cut its position in shares of Gildan Activewear Inc. (NYSE:GIL – Free Report) (TSE:GIL) by 73.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,529 shares of the textile maker’s stock after selling 118,180 shares during the quarter. Atom Investors LP’s holdings in Gildan Activewear were worth $2,004,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Tacita Capital Inc boosted its position in Gildan Activewear by 1,025.5% during the third quarter. Tacita Capital Inc now owns 13,056 shares of the textile maker’s stock valued at $615,000 after acquiring an additional 11,896 shares during the last quarter. Simcoe Capital Management LLC boosted its position in shares of Gildan Activewear by 10.5% during the 3rd quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock valued at $112,492,000 after purchasing an additional 226,695 shares in the last quarter. Bridges Investment Management Inc. bought a new stake in shares of Gildan Activewear during the 2nd quarter valued at about $1,425,000. Vaughan Nelson Investment Management L.P. grew its stake in Gildan Activewear by 31.5% during 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 purchasing an additional 377,135 shares during the period. Finally, Intech Investment Management LLC bought a new stake in Gildan Activewear in the third quarter worth approximately $544,000. Institutional investors own 82.83% of the company’s stock.
Analysts Set New Price Targets
GIL has been the topic of a number of research analyst reports. BMO Capital Markets increased their price target on Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Citigroup increased their target price on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Canaccord Genuity Group lifted 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. Stifel Nicolaus increased their price objective on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, TD Securities boosted their target price on Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.05.
Gildan Activewear Price Performance
GIL stock opened at $50.11 on Tuesday. The company has a market capitalization of $7.72 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 1.85 and a beta of 1.44. Gildan Activewear Inc. has a 52-week low of $30.68 and a 52-week high of $50.60. The business has a 50-day simple moving average of $48.22 and a two-hundred day simple moving average of $43.14. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31.
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. The company had revenue of $891.10 million for the quarter, compared to analysts’ expectations of $882.85 million. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. Gildan Activewear’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 earnings per share. 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 issued a $0.152 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.61 annualized dividend and a dividend yield of 1.21%. Gildan Activewear’s dividend payout ratio is currently 32.41%.
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.
Further Reading
- Five stocks we like better than Gildan Activewear
- What Do S&P 500 Stocks Tell Investors About the Market?
- How to Master Trading Discipline: Overcome Emotional Challenges
- Election Stocks: How Elections Affect the Stock Market
- Trump Tax Reforms: 7 Stocks That Could Benefit in 2025
- Should You Add These Warren Buffett Stocks to Your Portfolio?
- 3 Stocks Near 52-Week Lows: Why They Could Be Smart Buys Today
Want to see what other hedge funds are holding GIL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gildan Activewear Inc. (NYSE:GIL – Free Report) (TSE:GIL).
Receive News & Ratings for Gildan Activewear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gildan Activewear and related companies with MarketBeat.com's FREE daily email newsletter.