Signaturefd LLC Cuts Stake in Gildan Activewear Inc. (NYSE:GIL)

Signaturefd LLC lowered its stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,383 shares of the textile maker’s stock after selling 411 shares during the period. Signaturefd LLC’s holdings in Gildan Activewear were worth $348,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Fortis Group Advisors LLC lifted its holdings in shares of Gildan Activewear by 3.9% in the 3rd quarter. Fortis Group Advisors LLC now owns 6,601 shares of the textile maker’s stock worth $311,000 after acquiring an additional 246 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Gildan Activewear by 7,709.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 125,181 shares of the textile maker’s stock valued at $5,899,000 after purchasing an additional 123,578 shares during the last quarter. Compass Ion Advisors LLC purchased a new stake in shares of Gildan Activewear in the 3rd quarter valued at approximately $244,000. Raymond James & Associates increased its position in shares of Gildan Activewear by 191.3% in the 3rd quarter. Raymond James & Associates now owns 57,538 shares of the textile maker’s stock valued at $2,711,000 after purchasing an additional 37,785 shares during the last quarter. Finally, Blue Trust Inc. grew 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 buying an additional 397 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Gildan Activewear Stock Performance

Shares of GIL opened at $48.07 on Friday. The stock has a market cap of $7.55 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.78 and a beta of 1.43. The company has a 50-day moving average of $45.82 and a two-hundred day moving average of $40.46. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97. Gildan Activewear Inc. has a one year low of $27.24 and a one year high of $48.51.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The business had revenue of $862.20 million for the quarter, compared to the consensus estimate of $851.10 million. During the same quarter last year, the company posted $0.63 earnings per share. Gildan Activewear’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts expect that Gildan Activewear Inc. will post 2.93 earnings per share for the current year.

Gildan Activewear Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 22nd were given a $0.205 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.82 annualized dividend and a dividend yield of 1.71%. Gildan Activewear’s dividend payout ratio is presently 33.61%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GIL shares. Stifel Nicolaus increased their price target on shares of Gildan Activewear from $51.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada raised their price objective on shares of Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. TD Securities raised their price objective on shares of Gildan Activewear from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets raised their target price on shares of Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Gildan Activewear presently has an average rating of “Moderate Buy” and a consensus price target of $45.68.

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.