Great Lakes Advisors LLC Sells 28,695 Shares of Gildan Activewear Inc (GIL)

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.

NYSE:GIL opened at $32.84 on Friday. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 1.46 and a beta of 0.72. 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 12-month low of $25.33 and a 12-month high of $34.19.

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%.

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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.

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Institutional Ownership by Quarter for Gildan Activewear (NYSE:GIL)

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