Credit Suisse AG lessened its stake in Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 392,295 shares of the textile maker’s stock after selling 7,192 shares during the quarter. Credit Suisse AG owned approximately 0.19% of Gildan Activewear worth $11,937,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GIL. Cornerstone Wealth Management LLC purchased a new position in Gildan Activewear in the 2nd quarter valued at about $250,000. Massachusetts Financial Services Co. MA lifted its stake in Gildan Activewear by 4.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 462,543 shares of the textile maker’s stock worth $13,025,000 after purchasing an additional 18,720 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Gildan Activewear by 3.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 656,202 shares of the textile maker’s stock worth $18,485,000 after purchasing an additional 19,520 shares in the last quarter. State of Wisconsin Investment Board lifted its stake in Gildan Activewear by 12.7% in the 2nd quarter. State of Wisconsin Investment Board now owns 166,514 shares of the textile maker’s stock worth $4,687,000 after purchasing an additional 18,700 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in 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 purchasing an additional 46,342 shares in the last quarter. 69.44% of the stock is owned by institutional investors.
GIL has been the topic of a number of research reports. TheStreet raised shares of Gildan Activewear from a “c+” rating to a “b-” rating in a research note on Friday, August 24th. Desjardins raised shares of Gildan Activewear from a “hold” rating to a “buy” rating in a research note on Friday, November 2nd. Zacks Investment Research raised shares of Gildan Activewear from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. ValuEngine raised shares of Gildan Activewear from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. Finally, Raymond James reissued a “strong-buy” rating and issued a $40.00 target price on shares of Gildan Activewear in a research note on Friday, November 2nd. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Gildan Activewear currently has an average rating of “Buy” and a consensus target price of $34.25.
GIL stock opened at $32.39 on Friday. The company has a market cap of $7.02 billion, a PE ratio of 18.83, a PEG ratio of 1.53 and a beta of 0.75. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.79 and a current ratio of 4.94. Gildan Activewear Inc has a one year low of $25.33 and a one year high of $34.40.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Thursday, November 1st. The textile maker reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The firm had revenue of $754.40 million for the quarter, compared to analyst estimates of $759.15 million. Gildan Activewear had a net margin of 12.28% and a return on equity of 18.80%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 EPS. Analysts forecast that Gildan Activewear Inc will post 1.86 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Thursday, November 15th will be given a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Wednesday, November 14th. Gildan Activewear’s payout ratio is presently 26.16%.
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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