Gildan Activewear Inc. (NYSE:GIL) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lowered its position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 0.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 96,500 shares of the textile maker’s stock after selling 500 shares during the quarter. Primecap Management Co. CA’s holdings in Gildan Activewear were worth $4,546,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GIL. Riverview Trust Co acquired a new position in shares of Gildan Activewear in the third quarter worth about $29,000. Blue Trust Inc. raised its position in shares of 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 purchasing an additional 397 shares in the last quarter. Natixis purchased a new position in shares of Gildan Activewear during the 1st quarter valued at approximately $51,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Gildan Activewear during the second quarter worth approximately $51,000. Finally, Tobam acquired a new stake in shares of Gildan Activewear during the second quarter worth approximately $53,000. 82.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GIL shares. 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 report on Friday, November 1st. CIBC increased their price target on shares of Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. TD Securities boosted their price objective on Gildan Activewear from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday, November 1st. Canaccord Genuity Group upped their price objective on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets boosted 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. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.85.

Gildan Activewear Price Performance

Shares of GIL opened at $49.83 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 company has a market cap of $7.68 billion, a P/E ratio of 19.56, a PEG ratio of 1.83 and a beta of 1.44. Gildan Activewear Inc. has a 12 month low of $30.68 and a 12 month high of $50.58. The stock has a fifty day moving average price of $47.67 and a 200 day moving average price of $42.23.

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

Gildan Activewear Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be issued 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 1.22%. Gildan Activewear’s dividend payout ratio (DPR) is presently 32.41%.

Gildan Activewear Company 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.