Cerity Partners LLC Raises Position in Gildan Activewear Inc. (NYSE:GIL)

Cerity Partners LLC increased its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 171.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,720 shares of the textile maker’s stock after purchasing an additional 11,184 shares during the period. Cerity Partners LLC’s holdings in Gildan Activewear were worth $835,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Riverview Trust Co purchased a new stake in Gildan Activewear during the third quarter valued at about $29,000. Blue Trust Inc. boosted its position in Gildan Activewear by 96.1% during the third 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 period. Cullen Frost Bankers Inc. purchased a new position in Gildan Activewear in the 2nd quarter worth approximately $51,000. Tobam bought a new stake in Gildan Activewear in the second quarter valued at approximately $53,000. Finally, CWM LLC grew its holdings in Gildan Activewear by 23.0% in the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after acquiring an additional 318 shares during the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GIL has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price target on Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Citigroup increased their target price on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus upped their target price on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. CIBC raised their price objective on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Canaccord Genuity Group raised their price target on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Gildan Activewear has an average rating of “Moderate Buy” and an average target price of $51.05.

Gildan Activewear Stock Down 0.6 %

GIL opened at $49.12 on Friday. The firm’s 50 day simple moving average is $48.36 and its two-hundred day simple moving average is $43.32. The company has a market capitalization of $7.57 billion, a PE ratio of 19.42, a PEG ratio of 1.87 and a beta of 1.40. Gildan Activewear Inc. has a 1-year low of $30.68 and a 1-year high of $50.60. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81.

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

Gildan Activewear Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.152 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.24%. Gildan Activewear’s payout ratio is currently 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.