Gildan Activewear Inc. (NYSE:GIL) Shares Sold by Game Plan Financial Advisors LLC

Game Plan Financial Advisors LLC lessened its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,348 shares of the textile maker’s stock after selling 920 shares during the quarter. Game Plan Financial Advisors LLC’s holdings in Gildan Activewear were worth $2,402,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Gildan Activewear in the fourth quarter worth about $70,917,000. Browning West LP raised its position in shares of Gildan Activewear by 30.0% during the fourth quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock worth $285,653,000 after purchasing an additional 1,994,900 shares during the period. Intact Investment Management Inc. lifted its stake in Gildan Activewear by 204.8% during the second quarter. Intact Investment Management Inc. now owns 881,100 shares of the textile maker’s stock valued at $33,416,000 after buying an additional 591,980 shares in the last quarter. National Bank of Canada FI boosted its stake in Gildan Activewear by 43.8% in the 1st quarter. National Bank of Canada FI now owns 1,762,761 shares of the textile maker’s stock worth $65,451,000 after purchasing an additional 537,215 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in shares of Gildan Activewear by 31.5% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,573,695 shares of the textile maker’s stock valued at $59,674,000 after buying an additional 377,135 shares in the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus upgraded Gildan Activewear from a “hold” rating to a “buy” rating and lifted their price target for the company from $39.00 to $51.00 in a report on Friday, August 2nd. BMO Capital Markets increased their price objective on Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada boosted their price target on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

Gildan Activewear Price Performance

Shares of NYSE GIL traded up $0.56 during mid-day trading on Friday, hitting $45.63. 701,342 shares of the stock traded hands, compared to its average volume of 835,982. The company has a market cap of $7.41 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.74 and a beta of 1.43. Gildan Activewear Inc. has a twelve month low of $26.99 and a twelve month high of $45.65. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97. The firm has a 50 day simple moving average of $40.44 and a two-hundred day simple moving average of $37.42.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Thursday, August 1st. The textile maker reported $0.74 EPS for the quarter, beating the consensus estimate of $0.71 by $0.03. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The business had revenue of $862.20 million for the quarter, compared to analysts’ expectations of $851.10 million. During the same period in the prior year, the business posted $0.63 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts forecast that Gildan Activewear Inc. will post 2.92 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.80%. Gildan Activewear’s dividend payout ratio (DPR) is presently 27.70%.

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.