Smith Thornton Advisors LLC Sells 10,365 Shares of Gildan Activewear Inc. (NYSE:GIL)

Smith Thornton Advisors LLC cut its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 55.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 quarter.

Other institutional investors also recently made changes to their positions in the company. Riverview Trust Co bought a new stake in Gildan Activewear in the third quarter valued at approximately $29,000. Blue Trust Inc. increased its position in shares of Gildan Activewear by 96.1% during the third 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 period. Natixis bought a new position in Gildan Activewear in the first quarter worth about $51,000. Cullen Frost Bankers Inc. bought a new position in shares of Gildan Activewear in the 2nd quarter worth approximately $51,000. Finally, Tobam bought a new stake in shares of Gildan Activewear during the second quarter valued at approximately $53,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Analysts Set New Price Targets

GIL has been the topic of several research reports. Royal Bank of Canada boosted their price objective on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. BMO Capital Markets raised their price target on Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus raised their price objective 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. Citigroup increased their price target on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, CIBC boosted their price target on Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.85.

Gildan Activewear Trading Down 0.5 %

GIL opened at $49.20 on Friday. The business’s 50 day moving average price is $46.84 and its 200 day moving average price is $41.26. Gildan Activewear Inc. has a one year low of $30.68 and a one year high of $50.58. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31. The stock has a market capitalization of $7.72 billion, a PE ratio of 19.45, a P/E/G ratio of 1.84 and a beta of 1.44.

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 for the quarter, meeting analysts’ consensus estimates of $0.85. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The company had revenue of $891.10 million for the quarter, compared to analysts’ expectations of $882.85 million. During the same period last year, the firm earned $0.74 earnings per share. Gildan Activewear’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities research analysts expect that Gildan Activewear Inc. will post 2.97 EPS for the current year.

Gildan Activewear Cuts Dividend

The business also recently declared 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 is Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.24%. Gildan Activewear’s payout ratio is 32.41%.

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.