Orion Portfolio Solutions LLC Sells 1,559 Shares of Gildan Activewear Inc. (NYSE:GIL)

Orion Portfolio Solutions LLC reduced its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 3.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 40,419 shares of the textile maker’s stock after selling 1,559 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Gildan Activewear were worth $1,904,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Fortis Group Advisors LLC lifted its holdings in shares of Gildan Activewear by 3.9% in the third 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. Aristides Capital LLC raised its position in Gildan Activewear by 4.3% in the 2nd quarter. Aristides Capital LLC now owns 7,617 shares of the textile maker’s stock valued at $289,000 after buying an additional 314 shares during the last quarter. CWM LLC raised its position in Gildan Activewear by 23.0% in the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock valued at $80,000 after buying an additional 318 shares during the last quarter. Blue Trust Inc. lifted 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 acquiring an additional 397 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV grew its stake in shares of Gildan Activewear by 0.5% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 109,947 shares of the textile maker’s stock worth $5,180,000 after acquiring an additional 577 shares in the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

Gildan Activewear Stock Performance

GIL opened at $48.83 on Friday. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81. Gildan Activewear Inc. has a 12-month low of $30.68 and a 12-month high of $50.60. The business has a 50 day moving average of $48.52 and a 200-day moving average of $43.75. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 1.80 and a beta of 1.40.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, hitting analysts’ consensus estimates of $0.85. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The firm had revenue of $891.10 million during the quarter, compared to analysts’ expectations of $882.85 million. During the same period in the previous year, the business posted $0.74 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities research analysts expect that Gildan Activewear Inc. will post 2.97 earnings per share for the current year.

Gildan Activewear Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be issued 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 yield of 1.25%. Gildan Activewear’s payout ratio is currently 32.41%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. BMO Capital Markets boosted their price objective on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Canaccord Genuity Group boosted their price target on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. CIBC raised their price objective on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a report on Friday, November 1st. 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, Stifel Nicolaus increased their price target on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Gildan Activewear presently has an average rating of “Moderate Buy” and a consensus price target of $51.05.

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.