Millennium Management LLC Reduces Holdings in Gildan Activewear Inc. (NYSE:GIL)

Millennium Management LLC lowered its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 47.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 155,194 shares of the textile maker’s stock after selling 142,218 shares during the quarter. Millennium Management LLC owned 0.09% of Gildan Activewear worth $5,885,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GIL. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Gildan Activewear in the first quarter valued at about $692,000. Canada Pension Plan Investment Board grew its position in shares of Gildan Activewear by 16.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 563,498 shares of the textile maker’s stock worth $20,933,000 after buying an additional 78,338 shares during the last quarter. Browning West LP raised its holdings in shares of Gildan Activewear by 30.0% during the fourth quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock valued at $285,653,000 after acquiring an additional 1,994,900 shares in the last quarter. Virtu Financial LLC bought a new stake in Gildan Activewear in the fourth quarter valued at $859,000. Finally, Game Plan Financial Advisors LLC increased its position in Gildan Activewear by 101.7% during the 1st quarter. Game Plan Financial Advisors LLC now owns 64,268 shares of the textile maker’s stock valued at $2,386,000 after purchasing an additional 32,397 shares during the period. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Trading Down 1.6 %

Shares of Gildan Activewear stock opened at $46.68 on Friday. Gildan Activewear Inc. has a 1-year low of $27.24 and a 1-year high of $47.75. The company’s fifty day simple moving average is $44.35 and its 200-day simple moving average is $39.56. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97. The stock has a market capitalization of $7.73 billion, a PE ratio of 15.77, a P/E/G ratio of 1.77 and a beta of 1.43.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results 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 business had revenue of $862.20 million during 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 business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 earnings per share. As a group, equities analysts anticipate that Gildan Activewear Inc. will post 2.92 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 22nd were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Thursday, August 22nd. Gildan Activewear’s dividend payout ratio (DPR) is 27.70%.

Wall Street Analyst Weigh In

GIL has been the subject of several research analyst reports. BMO Capital Markets raised their price objective on shares of Gildan Activewear from $43.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Royal Bank of Canada lifted their price target on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus increased their price objective on Gildan Activewear from $51.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.77.

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.