Gildan Activewear Inc. (NYSE:GIL) Holdings Raised by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. boosted its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 8.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,859 shares of the textile maker’s stock after buying an additional 4,748 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Gildan Activewear were worth $2,912,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GIL. Fortis Group Advisors LLC raised its holdings in shares of Gildan Activewear by 3.9% during the 3rd quarter. Fortis Group Advisors LLC now owns 6,601 shares of the textile maker’s stock valued at $311,000 after purchasing an additional 246 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Gildan Activewear by 16.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock valued at $66,000 after purchasing an additional 274 shares in the last quarter. Aristides Capital LLC raised its holdings in shares of Gildan Activewear by 4.3% during the 2nd quarter. Aristides Capital LLC now owns 7,617 shares of the textile maker’s stock valued at $289,000 after purchasing an additional 314 shares in the last quarter. CWM LLC raised its holdings in shares of Gildan Activewear by 23.0% during the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock valued at $80,000 after purchasing an additional 318 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Gildan Activewear by 96.1% during the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 397 shares in the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Gildan Activewear Stock Performance

NYSE GIL opened at $49.62 on Friday. 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 firm has a market capitalization of $7.64 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 1.85 and a beta of 1.44. The company’s fifty day moving average is $48.15 and its two-hundred day moving average is $42.92. Gildan Activewear Inc. has a 52-week low of $30.68 and a 52-week high of $50.58.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly 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 net margin of 13.06% and a return on equity of 26.88%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the business posted $0.74 EPS. Equities research analysts forecast that Gildan Activewear Inc. will post 2.97 EPS for the current year.

Gildan Activewear Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.152 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.61 annualized dividend and a dividend yield of 1.23%. Gildan Activewear’s dividend payout ratio (DPR) is currently 32.41%.

Wall Street Analysts Forecast Growth

GIL has been the topic of a number of recent research reports. TD Securities raised their price target on shares of Gildan Activewear from $56.00 to $58.00 and gave the company a “buy” rating in a report 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 company an “outperform” rating in a report on Friday, August 2nd. BMO Capital Markets raised 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. Stifel Nicolaus raised their target price on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Canaccord Genuity Group raised their target price 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. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.