ARS Investment Partners LLC Sells 126,439 Shares of Gildan Activewear Inc. (NYSE:GIL)

ARS Investment Partners LLC cut its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 95.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,200 shares of the textile maker’s stock after selling 126,439 shares during the period. ARS Investment Partners LLC’s holdings in Gildan Activewear were worth $292,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in GIL. American Century Companies Inc. increased its position in shares of Gildan Activewear by 43.9% during the 2nd quarter. American Century Companies Inc. now owns 122,159 shares of the textile maker’s stock valued at $4,633,000 after purchasing an additional 37,288 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Gildan Activewear by 12.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 315,851 shares of the textile maker’s stock worth $11,977,000 after buying an additional 34,534 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Gildan Activewear by 10.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,148,030 shares of the textile maker’s stock worth $43,533,000 after buying an additional 110,704 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Gildan Activewear by 11.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,918 shares of the textile maker’s stock worth $411,000 after purchasing an additional 1,117 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Gildan Activewear by 497.4% during the 2nd quarter. Sei Investments Co. now owns 182,153 shares of the textile maker’s stock worth $6,907,000 after purchasing an additional 151,663 shares during the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Price Performance

NYSE GIL opened at $49.78 on Tuesday. The stock has a market capitalization of $7.59 billion, a P/E ratio of 19.68, a P/E/G ratio of 1.63 and a beta of 1.41. Gildan Activewear Inc. has a 1 year low of $31.22 and a 1 year high of $50.60. The business’s fifty day moving average is $48.30 and its two-hundred day moving average is $45.70. 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) (TSE:GIL) last announced its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $891.10 million during 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%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. On average, research analysts forecast that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The firm also recently declared 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 1.22%. The ex-dividend date of this dividend was Thursday, November 21st. Gildan Activewear’s dividend payout ratio (DPR) is presently 32.41%.

Analyst Ratings Changes

GIL has been the subject of a number of analyst reports. Stifel Nicolaus upped their price objective on Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets raised their target price on Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. UBS Group upgraded Gildan Activewear from a “neutral” rating to a “buy” rating and raised their target price for the company from $50.00 to $60.00 in a research report on Friday, January 10th. TD Securities lifted 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, December 2nd. Finally, CIBC lifted their price objective on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target 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.