Brandes Investment Partners LP Has $657,000 Position in Gildan Activewear Inc. (NYSE:GIL)

Brandes Investment Partners LP cut its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 19.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,335 shares of the textile maker’s stock after selling 4,206 shares during the period. Brandes Investment Partners LP’s holdings in Gildan Activewear were worth $657,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in GIL. Browning West LP increased its position in Gildan Activewear by 30.0% in the 4th quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock worth $285,653,000 after buying an additional 1,994,900 shares during the period. Intact Investment Management Inc. boosted its holdings in Gildan Activewear by 204.8% in the 2nd quarter. Intact Investment Management Inc. now owns 881,100 shares of the textile maker’s stock valued at $33,416,000 after purchasing an additional 591,980 shares during the period. National Bank of Canada FI grew its position in Gildan Activewear by 43.8% in the 1st quarter. National Bank of Canada FI now owns 1,762,761 shares of the textile maker’s stock worth $65,451,000 after purchasing an additional 537,215 shares during the last quarter. EdgePoint Investment Group Inc. increased its holdings in shares of Gildan Activewear by 28.0% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker’s stock worth $70,696,000 after purchasing an additional 407,113 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of Gildan Activewear by 31.5% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,573,695 shares of the textile maker’s stock valued at $59,674,000 after buying an additional 377,135 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Trading Up 0.6 %

Shares of GIL stock opened at $47.11 on Tuesday. The company has a market capitalization of $7.81 billion, a P/E ratio of 15.92, a P/E/G ratio of 1.77 and a beta of 1.43. Gildan Activewear Inc. has a 12-month low of $27.24 and a 12-month high of $47.75. The company has a quick ratio of 0.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $43.18 and a 200 day moving average price of $38.97.

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

Gildan Activewear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Thursday, August 22nd. Gildan Activewear’s payout ratio is presently 27.70%.

Wall Street Analyst Weigh In

GIL has been the topic of several research reports. Stifel Nicolaus upgraded Gildan Activewear from a “hold” rating to a “buy” rating and boosted their price target for the company from $39.00 to $51.00 in a research note on Friday, August 2nd. BMO Capital Markets upped their target price on Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada raised their target price on Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. 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 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.