Gildan Activewear Inc. (NYSE:GIL) Shares Sold by JARISLOWSKY FRASER Ltd

JARISLOWSKY FRASER Ltd cut its position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,031,700 shares of the textile maker’s stock after selling 190,454 shares during the quarter. Gildan Activewear accounts for 2.5% of JARISLOWSKY FRASER Ltd’s investment portfolio, making the stock its 14th biggest holding. JARISLOWSKY FRASER Ltd owned approximately 6.66% of Gildan Activewear worth $418,340,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GIL. Natixis purchased a new position in Gildan Activewear during the first quarter worth $51,000. Cullen Frost Bankers Inc. purchased a new position in Gildan Activewear during the second quarter worth $51,000. Tobam purchased a new position in Gildan Activewear during the second quarter worth $53,000. EverSource Wealth Advisors LLC increased its position in Gildan Activewear by 16.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock worth $66,000 after buying an additional 274 shares in the last quarter. Finally, UniSuper Management Pty Ltd increased its position in Gildan Activewear by 69.2% during the first quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the textile maker’s stock worth $82,000 after buying an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Gildan Activewear Price Performance

GIL stock opened at $46.08 on Thursday. The stock has a 50-day moving average price of $42.16 and a two-hundred day moving average price of $38.33. Gildan Activewear Inc. has a 12-month low of $26.99 and a 12-month high of $46.66. The company has a current ratio of 2.35, a quick ratio of 0.97 and a debt-to-equity ratio of 0.55. The company has a market cap of $7.63 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 1.71 and a beta of 1.43.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The company had revenue of $862.20 million for the quarter, compared to analysts’ expectations of $851.10 million. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 earnings per share. As a group, research analysts predict that Gildan Activewear Inc. will post 2.92 EPS for the current year.

Gildan Activewear Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 22nd were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Thursday, August 22nd. Gildan Activewear’s dividend payout ratio (DPR) is 27.70%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Royal Bank of Canada raised their price target on Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Stifel Nicolaus raised Gildan Activewear from a “hold” rating to a “buy” rating and lifted their price objective for the company from $39.00 to $51.00 in a research report on Friday, August 2nd. Finally, BMO Capital Markets lifted their price objective on Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $44.50.

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.