Gildan Activewear, Inc. $GIL Stock Sold by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. decreased its position in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 7.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 209,300 shares of the textile maker’s stock after selling 17,000 shares during the quarter. Montrusco Bolton Investments Inc. owned about 0.11% of Gildan Activewear worth $8,938,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cooper Financial Group lifted its holdings in shares of Gildan Activewear by 3.2% in the 3rd quarter. Cooper Financial Group now owns 13,270 shares of the textile maker’s stock worth $566,000 after purchasing an additional 407 shares in the last quarter. Byrne Asset Management LLC bought a new stake in Gildan Activewear during the 3rd quarter valued at $136,000. Versant Capital Management Inc increased its stake in Gildan Activewear by 26.2% during the 3rd quarter. Versant Capital Management Inc now owns 4,499 shares of the textile maker’s stock valued at $192,000 after purchasing an additional 933 shares in the last quarter. Andra AP fonden acquired a new position in Gildan Activewear during the second quarter worth $784,000. Finally, WINTON GROUP Ltd acquired a new position in Gildan Activewear during the second quarter worth $459,000. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Stock Down 0.8%

Gildan Activewear stock traded down $0.32 during midday trading on Tuesday, hitting $41.84. 1,869,371 shares of the stock were exchanged, compared to its average volume of 1,453,677. Gildan Activewear, Inc. has a 52-week low of $39.93 and a 52-week high of $73.69. The stock has a market capitalization of $7.75 billion, a price-to-earnings ratio of 80.46 and a beta of 1.11. The business’s 50-day moving average price is $49.91 and its 200-day moving average price is $53.74. The company has a quick ratio of 1.01, a current ratio of 1.93 and a debt-to-equity ratio of 1.15.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Thursday, July 30th. The textile maker reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.17. Gildan Activewear had a net margin of 1.28% and a return on equity of 21.03%. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the firm posted $0.97 EPS. The firm’s quarterly revenue was up 72.3% compared to the same quarter last year. On average, research analysts expect that Gildan Activewear, Inc. will post 4.67 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Thursday, August 20th were issued a $0.2490 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. Gildan Activewear’s dividend payout ratio is currently 190.38%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GIL shares. TD Securities reduced their price objective on shares of Gildan Activewear from $80.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, September 24th. Citigroup restated a “neutral” rating on shares of Gildan Activewear in a report on Tuesday, August 4th. UBS Group raised their price target on shares of Gildan Activewear from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Scotia lifted their price target on Gildan Activewear from $65.00 to $67.00 and gave the company a “sector outperform” rating in a research note on Friday, July 31st. Finally, Stifel Nicolaus set a $83.00 price target on Gildan Activewear and gave the company a “buy” rating in a research note on Friday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $76.77.

Gildan Activewear Company Profile

Gildan Activewear Inc is a Canadian apparel manufacturer headquartered in Montreal, Quebec. The company produces basic everyday apparel, including T-shirts, fleece garments, underwear, socks and hosiery, for wholesalers, retailers, screen printers, brands and consumers.

Its portfolio includes the Gildan, American Apparel, Comfort Colors and Gold Toe brands, along with other product lines serving the activewear, casualwear and innerwear markets. Gildan also manufactures private-label and co-branded products for customers in several apparel categories.

Founded in 1984 by brothers Glenn and Greg Chamandy, Gildan has developed a vertically integrated manufacturing model that covers key stages from textile production through finished garments.