HighTower Advisors LLC Buys Shares of 9,740 Gildan Activewear Inc. (NYSE:GIL)

HighTower Advisors LLC purchased a new position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,740 shares of the textile maker’s stock, valued at approximately $457,000.

Other hedge funds have also recently modified their holdings of the company. Riverview Trust Co acquired a new stake in Gildan Activewear in the third quarter valued at about $29,000. Blue Trust Inc. lifted its holdings 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 period. Cullen Frost Bankers Inc. acquired a new stake in shares of Gildan Activewear in the 2nd quarter valued at approximately $51,000. Tobam purchased a new stake in shares of Gildan Activewear in the second quarter valued at approximately $53,000. Finally, CWM LLC grew its holdings in Gildan Activewear by 23.0% during the third 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 period. 82.83% of the stock is owned by institutional investors and hedge funds.

Gildan Activewear Stock Performance

GIL stock opened at $46.78 on Friday. The company has a 50-day simple moving average of $48.59 and a 200 day simple moving average of $44.23. The company has a market capitalization of $7.15 billion, a P/E ratio of 18.49, a PEG ratio of 1.82 and a beta of 1.40. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81. Gildan Activewear Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $50.60.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data 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 the consensus estimate of $882.85 million. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 EPS. Sell-side analysts predict that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, November 21st were given a $0.152 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.61 annualized dividend and a dividend yield of 1.30%. Gildan Activewear’s dividend payout ratio (DPR) is presently 32.41%.

Analyst Ratings Changes

Several brokerages recently commented on GIL. Canaccord Genuity Group raised their price objective on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, November 1st. TD Securities increased their target price on shares of Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a report on Monday, December 2nd. BMO Capital Markets boosted their price target on Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Citigroup raised their price objective on Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, CIBC lifted their price objective on Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Gildan Activewear has a consensus rating of “Moderate Buy” and a consensus price target of $51.05.

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.