Pragma Gestao DE Patrimonio Ltd. Trims Stake in Gildan Activewear Inc. (NYSE:GIL)

Pragma Gestao DE Patrimonio Ltd. lessened its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 44.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 155,000 shares of the textile maker’s stock after selling 125,000 shares during the period. Gildan Activewear accounts for about 3.8% of Pragma Gestao DE Patrimonio Ltd.’s holdings, making the stock its 15th biggest position. Pragma Gestao DE Patrimonio Ltd.’s holdings in Gildan Activewear were worth $7,302,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of GIL. Fiera Capital Corp lifted its stake in Gildan Activewear by 5.3% in the 3rd quarter. Fiera Capital Corp now owns 255,734 shares of the textile maker’s stock valued at $12,053,000 after buying an additional 12,933 shares in the last quarter. Intact Investment Management Inc. raised its position in shares of Gildan Activewear by 12.0% in the 3rd quarter. Intact Investment Management Inc. now owns 987,250 shares of the textile maker’s stock worth $46,473,000 after buying an additional 106,150 shares during the period. US Bancorp DE increased its holdings in Gildan Activewear by 24.6% in the 3rd quarter. US Bancorp DE now owns 9,359 shares of the textile maker’s stock valued at $441,000 after purchasing an additional 1,849 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Gildan Activewear by 41.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 73,619 shares of the textile maker’s stock valued at $3,401,000 after acquiring an additional 21,553 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Gildan Activewear during the third quarter valued at about $216,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

Wall Street Analysts Forecast Growth

GIL has been the topic of a number of recent research reports. Canaccord Genuity Group raised their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada lifted their price target on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. CIBC lifted their price target on shares of Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. BMO Capital Markets lifted their price objective on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Citigroup lifted their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Gildan Activewear has an average rating of “Moderate Buy” and a consensus target price of $50.85.

Gildan Activewear Stock Up 0.1 %

GIL stock opened at $49.26 on Friday. 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 Inc. has a 1 year low of $30.68 and a 1 year high of $50.58. The company has a fifty day simple moving average of $46.91 and a 200 day simple moving average of $41.36. The firm has a market cap of $7.73 billion, a PE ratio of 19.47, a PEG ratio of 1.85 and a beta of 1.44.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The business had revenue of $891.10 million during the quarter, compared to analyst estimates of $882.85 million. During the same quarter in the previous year, the business earned $0.74 EPS. Gildan Activewear’s quarterly revenue was up 2.4% compared to the same quarter last year. Sell-side analysts anticipate that Gildan Activewear Inc. will post 2.97 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be issued a $0.152 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.61 annualized dividend and a yield of 1.23%. Gildan Activewear’s dividend payout ratio (DPR) is presently 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.