Great Lakes Advisors LLC cut its holdings in Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 7.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 340,096 shares of the textile maker’s stock after selling 28,695 shares during the period. Great Lakes Advisors LLC owned about 0.16% of Gildan Activewear worth $10,349,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Global X Management Co LLC boosted its position in shares of Gildan Activewear by 145.3% in the 2nd quarter. Global X Management Co LLC now owns 6,390 shares of the textile maker’s stock worth $180,000 after buying an additional 3,785 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new stake in shares of Gildan Activewear in the 2nd quarter worth about $250,000. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Gildan Activewear in the 3rd quarter worth about $213,000. Allianz Asset Management GmbH purchased a new stake in shares of Gildan Activewear in the 1st quarter worth about $208,000. Finally, Lester Murray Antman dba SimplyRich purchased a new stake in shares of Gildan Activewear in the 2nd quarter worth about $205,000. Institutional investors and hedge funds own 71.66% of the company’s stock.
GIL has been the topic of several recent research reports. ValuEngine upgraded shares of Gildan Activewear from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Desjardins lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. They noted that the move was a valuation call. Royal Bank of Canada upped their target price on shares of Gildan Activewear from $32.00 to $33.00 and gave the company a “sector perform” rating in a report on Friday, August 3rd. TD Securities upped their target price on shares of Gildan Activewear from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Finally, Zacks Investment Research upgraded shares of Gildan Activewear from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Gildan Activewear has a consensus rating of “Buy” and an average price target of $34.25.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Thursday, November 1st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. The company 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 firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm 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 announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Thursday, November 15th will be issued a $0.085 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.34 dividend on an annualized basis and a yield of 1.04%. Gildan Activewear’s dividend payout ratio (DPR) is 26.16%.
ILLEGAL ACTIVITY WARNING: “Great Lakes Advisors LLC Sells 28,695 Shares of Gildan Activewear Inc (GIL)” was posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this news story on another domain, it was copied illegally and reposted in violation of US and international copyright legislation. The original version of this news story can be viewed at https://www.com-unik.info/2018/12/01/great-lakes-advisors-llc-sells-28695-shares-of-gildan-activewear-inc-gil.html.
Gildan Activewear Company Profile
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.
Want to see what other hedge funds are holding GIL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gildan Activewear Inc (NYSE:GIL) (TSE:GIL).
Receive News & Ratings for Gildan Activewear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gildan Activewear and related companies with MarketBeat.com's FREE daily email newsletter.