National Bank of Canada FI Sells 323,692 Shares of Gildan Activewear Inc. (NYSE:GIL)

National Bank of Canada FI lowered its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 18.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,395,520 shares of the textile maker’s stock after selling 323,692 shares during the quarter. National Bank of Canada FI owned about 0.91% of Gildan Activewear worth $65,705,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in Gildan Activewear by 42.4% in the third quarter. Wellington Management Group LLP now owns 29,724 shares of the textile maker’s stock worth $1,401,000 after purchasing an additional 8,855 shares in the last quarter. Stifel Financial Corp boosted its stake in Gildan Activewear by 7.2% in the third quarter. Stifel Financial Corp now owns 92,054 shares of the textile maker’s stock worth $4,337,000 after purchasing an additional 6,205 shares in the last quarter. Quantinno Capital Management LP boosted its stake in Gildan Activewear by 8.4% in the third quarter. Quantinno Capital Management LP now owns 52,716 shares of the textile maker’s stock worth $2,483,000 after purchasing an additional 4,069 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Gildan Activewear by 3.6% in the third quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker’s stock worth $322,298,000 after purchasing an additional 240,375 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new position in Gildan Activewear in the third quarter worth $457,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on GIL. CIBC upped their price target on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Stifel Nicolaus upped their price target on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. TD Securities upped their price target on Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Citigroup upped their price target 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, Canaccord Genuity Group upped their price target on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.05.

Gildan Activewear Trading Down 1.8 %

NYSE:GIL opened at $48.24 on Friday. Gildan Activewear Inc. has a 1-year low of $30.68 and a 1-year high of $50.60. The business’s 50-day moving average price is $48.39 and its two-hundred day moving average price is $43.46. The firm has a market capitalization of $7.43 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 1.85 and a beta of 1.40. 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 quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The company had revenue of $891.10 million during the quarter, compared to the consensus estimate of $882.85 million. During the same period in the prior year, the company earned $0.74 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities analysts expect that Gildan Activewear Inc. will post 2.97 earnings per share for the current year.

Gildan Activewear Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 dividend yield of 1.26%. Gildan Activewear’s dividend payout ratio (DPR) is currently 32.41%.

About Gildan Activewear

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.