Avior Wealth Management LLC Sells 2,100 Shares of Gildan Activewear Inc. (NYSE:GIL)

Avior Wealth Management LLC reduced its position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,404 shares of the textile maker’s stock after selling 2,100 shares during the quarter. Avior Wealth Management LLC’s holdings in Gildan Activewear were worth $1,431,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its holdings in shares of Gildan Activewear by 3.6% in the 3rd quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker’s stock valued at $322,298,000 after purchasing an additional 240,375 shares during the period. The Manufacturers Life Insurance Company increased its position in Gildan Activewear by 14.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker’s stock worth $97,290,000 after buying an additional 324,304 shares during the last quarter. Simcoe Capital Management LLC raised its stake in Gildan Activewear by 10.5% in the third quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock valued at $112,492,000 after buying an additional 226,695 shares during the period. EdgePoint Investment Group Inc. lifted its position in shares of Gildan Activewear by 28.0% in the second quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker’s stock valued at $70,696,000 after buying an additional 407,113 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake 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 acquiring an additional 44,725 shares during the period. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Trading Up 0.3 %

Shares of GIL stock opened at $51.00 on Friday. The stock has a market cap of $7.78 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41. Gildan Activewear Inc. has a 1 year low of $32.14 and a 1 year high of $51.18. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. The stock has a 50 day simple moving average of $48.39 and a 200 day simple moving average of $45.82.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. The company had revenue of $891.10 million for the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $0.74 EPS. On average, research analysts predict that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, November 21st were issued a $0.152 dividend. This represents a $0.61 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Thursday, November 21st. Gildan Activewear’s dividend payout ratio is currently 32.41%.

Wall Street Analysts Forecast Growth

GIL has been the subject of several research reports. CIBC raised their price target on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets raised their target price on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Citigroup upped their price target 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. UBS Group upgraded shares of Gildan Activewear from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $50.00 to $60.00 in a research report on Friday, January 10th. Finally, Stifel Nicolaus upped their target price on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $53.35.

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.