Atria Investments Inc Purchases Shares of 8,293 Gildan Activewear Inc. (NYSE:GIL)

Atria Investments Inc purchased a new stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 8,293 shares of the textile maker’s stock, valued at approximately $391,000.

Other hedge funds also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board increased its stake in Gildan Activewear by 16.1% in the first quarter. Canada Pension Plan Investment Board now owns 563,498 shares of the textile maker’s stock valued at $20,933,000 after purchasing an additional 78,338 shares during the last quarter. Boston Partners boosted its holdings in shares of Gildan Activewear by 217.3% in the first quarter. Boston Partners now owns 357,910 shares of the textile maker’s stock valued at $13,281,000 after acquiring an additional 245,119 shares during the period. Bridges Investment Management Inc. acquired a new stake in shares of Gildan Activewear in the second quarter valued at approximately $1,425,000. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Gildan Activewear by 31.5% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,573,695 shares of the textile maker’s stock valued at $59,674,000 after acquiring an additional 377,135 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Gildan Activewear by 7,709.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 125,181 shares of the textile maker’s stock valued at $5,899,000 after acquiring an additional 123,578 shares during the period. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Gildan Activewear Trading Up 1.4 %

Shares of GIL stock opened at $49.48 on Friday. The stock has a market cap of $7.62 billion, a P/E ratio of 19.56, a P/E/G ratio of 1.83 and a beta of 1.44. The business has a fifty day simple moving average of $47.58 and a 200-day simple moving average of $42.18. Gildan Activewear Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $50.58. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81.

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

Gildan Activewear Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be issued a $0.152 dividend. This represents a $0.61 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear’s dividend payout ratio (DPR) is 32.41%.

Analyst Ratings Changes

GIL has been the subject of several recent research reports. TD Securities increased their price target on Gildan Activewear from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Canaccord Genuity Group increased their price target on Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus increased their price target on Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. BMO Capital Markets raised their target price on Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada raised their target price on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Gildan Activewear has an average rating of “Moderate Buy” and an average price target of $50.85.

About Gildan Activewear

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.