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

Smith Thornton Advisors LLC cut its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 55.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 8,178 shares of the textile maker’s stock after selling 10,365 shares during the quarter. Smith Thornton Advisors LLC’s holdings in Gildan Activewear were worth $385,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GIL. Riverview Trust Co acquired a new stake in Gildan Activewear during the 3rd quarter worth about $29,000. Blue Trust Inc. grew its stake in Gildan Activewear by 96.1% in the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after buying an additional 397 shares during the last quarter. Natixis bought a new position in shares of Gildan Activewear in the first quarter worth about $51,000. Cullen Frost Bankers Inc. acquired a new position in shares of Gildan Activewear during the second quarter worth approximately $51,000. Finally, Tobam bought a new stake in Gildan Activewear in the 2nd quarter valued at $53,000. 82.83% of the stock is owned by institutional investors and hedge funds.

Gildan Activewear Trading Down 0.5 %

Shares of GIL stock opened at $49.20 on Friday. Gildan Activewear Inc. has a 1 year low of $30.68 and a 1 year high of $50.58. 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 company has a market cap of $7.72 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 1.84 and a beta of 1.44. The firm has a fifty day moving average price of $46.84 and a 200-day moving average price of $41.26.

Gildan Activewear (NYSE:GIL) (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. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The business had revenue of $891.10 million during the quarter, compared to analyst estimates of $882.85 million. During the same quarter in the previous year, the business earned $0.74 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities analysts predict that Gildan Activewear Inc. will post 2.97 earnings per share for the current year.

Gildan Activewear Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be paid a $0.152 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a yield of 1.24%. Gildan Activewear’s dividend payout ratio (DPR) is 32.41%.

Wall Street Analysts Forecast Growth

GIL has been the topic of several analyst reports. Stifel Nicolaus upped their price objective on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Canaccord Genuity Group upped 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. TD Securities increased their price target on Gildan Activewear from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada increased their price objective on Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, BMO Capital Markets increased their price target 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. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average 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.