Gildan Activewear Inc (GIL) Stake Lowered by Virginia Retirement Systems ET AL

Virginia Retirement Systems ET AL reduced its holdings in Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,200 shares of the textile maker’s stock after selling 6,100 shares during the quarter. Virginia Retirement Systems ET AL owned approximately 0.09% of Gildan Activewear worth $5,479,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Grandeur Peak Global Advisors LLC boosted its holdings in shares of Gildan Activewear by 3.7% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 508,963 shares of the textile maker’s stock worth $14,351,000 after acquiring an additional 18,000 shares in the last quarter. Bank of Nova Scotia boosted its holdings in shares of Gildan Activewear by 6.4% in the 2nd quarter. Bank of Nova Scotia now owns 708,946 shares of the textile maker’s stock worth $19,885,000 after acquiring an additional 42,449 shares in the last quarter. Cumberland Partners Ltd acquired a new position in shares of Gildan Activewear in the 2nd quarter worth approximately $339,000. Citadel Advisors LLC boosted its holdings in shares of Gildan Activewear by 1,940.9% in the 2nd quarter. Citadel Advisors LLC now owns 76,306 shares of the textile maker’s stock worth $2,148,000 after acquiring an additional 80,451 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Gildan Activewear by 26.0% in the 2nd quarter. Sei Investments Co. now owns 224,647 shares of the textile maker’s stock worth $6,325,000 after acquiring an additional 46,342 shares in the last quarter. 70.76% of the stock is currently owned by institutional investors and hedge funds.

GIL stock opened at $31.64 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 4.94 and a quick ratio of 1.79. Gildan Activewear Inc has a fifty-two week low of $25.33 and a fifty-two week high of $34.19. The company has a market capitalization of $6.55 billion, a P/E ratio of 18.40, a P/E/G ratio of 1.43 and a beta of 0.72.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Thursday, November 1st. The textile maker reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.01. Gildan Activewear had a net margin of 12.28% and a return on equity of 18.80%. The firm had revenue of $754.40 million during the quarter, compared to analysts’ expectations of $759.15 million. During the same quarter in the previous year, the company posted $0.53 EPS. Gildan Activewear’s revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts forecast that Gildan Activewear Inc will post 1.86 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Thursday, November 15th will be given a $0.085 dividend. This represents a $0.34 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, November 14th. Gildan Activewear’s dividend payout ratio (DPR) is presently 26.16%.

Several research analysts have recently commented on GIL shares. TheStreet raised Gildan Activewear from a “c+” rating to a “b-” rating in a report on Friday, August 24th. TD Securities boosted their price objective on shares of Gildan Activewear from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Bank of America upgraded shares of Gildan Activewear from an “underperform” rating to a “buy” rating in a research report on Thursday, August 2nd. Desjardins upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating in a research report on Friday, November 2nd. Finally, ValuEngine upgraded shares of Gildan Activewear from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Gildan Activewear currently has an average rating of “Buy” and an average price target of $34.25.

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About Gildan Activewear

Gildan Activewear Inc manufactures and sells a range of apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.

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Institutional Ownership by Quarter for Gildan Activewear (NYSE:GIL)

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