Crossmark Global Holdings Inc. Sells 4,841 Shares of Gildan Activewear Inc. (NYSE:GIL)

Crossmark Global Holdings Inc. lowered its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 33.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,669 shares of the textile maker’s stock after selling 4,841 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Gildan Activewear were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Atria Investments Inc purchased a new stake in Gildan Activewear in the third quarter worth $391,000. Verdence Capital Advisors LLC grew its holdings in shares of Gildan Activewear by 6.7% in the third quarter. Verdence Capital Advisors LLC now owns 16,097 shares of the textile maker’s stock worth $758,000 after purchasing an additional 1,004 shares during the last quarter. Fiera Capital Corp increased its stake in Gildan Activewear by 5.3% in the 3rd quarter. Fiera Capital Corp now owns 255,734 shares of the textile maker’s stock worth $12,053,000 after buying an additional 12,933 shares during the period. Intact Investment Management Inc. lifted its holdings in Gildan Activewear by 12.0% during the 3rd quarter. Intact Investment Management Inc. now owns 987,250 shares of the textile maker’s stock valued at $46,473,000 after buying an additional 106,150 shares in the last quarter. Finally, US Bancorp DE boosted its position in Gildan Activewear by 24.6% in the 3rd quarter. US Bancorp DE now owns 9,359 shares of the textile maker’s stock valued at $441,000 after buying an additional 1,849 shares during the period. 82.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GIL shares. BMO Capital Markets lifted their price objective on Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. CIBC upped their price target on shares of Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Citigroup lifted their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus upped their target price on Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, TD Securities lifted their price target on Gildan Activewear from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Gildan Activewear has an average rating of “Moderate Buy” and a consensus price target of $50.85.

Gildan Activewear Stock Performance

NYSE:GIL opened at $48.29 on Friday. 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 company has a market capitalization of $7.44 billion, a P/E ratio of 19.09, a price-to-earnings-growth ratio of 1.81 and a beta of 1.44. The firm has a 50-day moving average price of $47.31 and a two-hundred day moving average price of $41.81. Gildan Activewear Inc. has a twelve month low of $30.68 and a twelve month high of $50.58.

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

Gildan Activewear Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be issued a dividend of $0.152 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.61 annualized dividend and a dividend yield of 1.26%. Gildan Activewear’s payout ratio is currently 32.41%.

Gildan Activewear Company 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.