Sanctuary Advisors LLC Takes $969,000 Position in Gildan Activewear Inc. (NYSE:GIL)

Sanctuary Advisors LLC bought a new position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,450 shares of the textile maker’s stock, valued at approximately $969,000.

Other large investors have also bought and sold shares of the company. Fortis Group Advisors LLC boosted its holdings in shares of Gildan Activewear by 3.9% in the third quarter. Fortis Group Advisors LLC now owns 6,601 shares of the textile maker’s stock valued at $311,000 after buying an additional 246 shares during the period. Aristides Capital LLC lifted its position in Gildan Activewear by 4.3% in the 2nd 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 in the last quarter. CWM LLC boosted its stake in Gildan Activewear by 23.0% in the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after purchasing an additional 318 shares during the period. Blue Trust Inc. raised its stake in shares of Gildan Activewear by 96.1% in the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 397 shares during the period. Finally, Azzad Asset Management Inc. ADV raised its stake in shares of Gildan Activewear by 0.5% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 109,947 shares of the textile maker’s stock valued at $5,180,000 after purchasing an additional 577 shares during the period. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Stock Performance

Shares of GIL opened at $46.78 on Monday. The company has a market cap of $7.15 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 1.82 and a beta of 1.40. The firm has a 50-day moving average of $48.59 and a 200-day moving average of $44.27. Gildan Activewear Inc. has a one year low of $30.68 and a one year high of $50.60. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98.

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 return on equity of 26.88% and a net margin of 13.06%. Gildan Activewear’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company posted $0.74 earnings per share. As a group, equities analysts forecast that Gildan Activewear Inc. will post 2.97 earnings per share for the current year.

Gildan Activewear Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Thursday, November 21st were paid a $0.152 dividend. This represents a $0.61 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Thursday, November 21st. Gildan Activewear’s dividend payout ratio (DPR) is presently 32.41%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GIL. Canaccord Genuity Group increased their price objective 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 raised their price target 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. TD Securities lifted their price objective on shares of Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Citigroup increased their target price on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, CIBC lifted their price target on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.05.

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.