Glenmede Trust Co. NA Sells 788 Shares of Gildan Activewear Inc. (NYSE:GIL)

Glenmede Trust Co. NA decreased its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 10.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,664 shares of the textile maker’s stock after selling 788 shares during the period. Glenmede Trust Co. NA’s holdings in Gildan Activewear were worth $314,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Fortis Group Advisors LLC raised its stake in shares of Gildan Activewear by 3.9% during the third quarter. Fortis Group Advisors LLC now owns 6,601 shares of the textile maker’s stock valued at $311,000 after acquiring an additional 246 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Gildan Activewear by 16.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock valued at $66,000 after acquiring an additional 274 shares during the last quarter. Aristides Capital LLC raised its stake in shares of Gildan Activewear by 4.3% during the second quarter. Aristides Capital LLC now owns 7,617 shares of the textile maker’s stock valued at $289,000 after acquiring an additional 314 shares during the last quarter. CWM LLC raised its stake in shares of Gildan Activewear by 23.0% during the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock valued at $80,000 after acquiring an additional 318 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Gildan Activewear by 96.1% during the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after acquiring an additional 397 shares during the last quarter. Institutional investors own 82.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GIL. Canaccord Genuity Group raised their price target on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets raised their price target on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Citigroup raised their price target on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Stifel Nicolaus lifted their target price on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, TD Securities lifted their target price on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.05.

Gildan Activewear Trading Down 1.5 %

NYSE:GIL opened at $49.34 on Thursday. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $7.60 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.87 and a beta of 1.40. The firm has a fifty day simple moving average of $48.33 and a two-hundred day simple moving average of $43.28. Gildan Activewear Inc. has a 12 month low of $30.68 and a 12 month high of $50.60.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, hitting analysts’ consensus estimates of $0.85. The business had revenue of $891.10 million during the quarter, compared to analysts’ expectations of $882.85 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the company posted $0.74 earnings per share. Analysts expect that Gildan Activewear Inc. will post 2.97 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Thursday, November 21st. Gildan Activewear’s dividend payout ratio is currently 32.41%.

Gildan Activewear Profile

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.