Tidal Investments LLC Sells 1,577 Shares of Gildan Activewear Inc. (NYSE:GIL)

Tidal Investments LLC reduced its position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 11.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,914 shares of the textile maker’s stock after selling 1,577 shares during the period. Tidal Investments LLC’s holdings in Gildan Activewear were worth $561,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Cooke & Bieler LP raised its holdings in Gildan Activewear by 2.7% during the second quarter. Cooke & Bieler LP now owns 10,252,785 shares of the textile maker’s stock worth $388,786,000 after buying an additional 271,273 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Gildan Activewear by 3.6% during the third quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker’s stock worth $322,298,000 after acquiring an additional 240,375 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Gildan Activewear by 14.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker’s stock valued at $97,290,000 after acquiring an additional 324,304 shares in the last quarter. Simcoe Capital Management LLC lifted its position in Gildan Activewear by 10.5% in the 3rd quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock valued at $112,492,000 after acquiring an additional 226,695 shares in the last quarter. Finally, EdgePoint Investment Group Inc. boosted its stake in Gildan Activewear by 28.0% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker’s stock valued at $70,696,000 after purchasing an additional 407,113 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Stock Performance

Shares of GIL opened at $46.78 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. The firm has a market cap of $7.15 billion, a PE ratio of 18.49, a PEG ratio of 1.82 and a beta of 1.40. Gildan Activewear Inc. has a 1 year low of $30.68 and a 1 year high of $50.60. The stock’s fifty day moving average price is $48.59 and its two-hundred day moving average price is $44.27.

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

Gildan Activewear Cuts Dividend

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

Analyst Ratings Changes

Several brokerages recently issued reports on GIL. Canaccord Genuity Group lifted their target price on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus upped 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. Citigroup boosted their price target 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. TD Securities increased their price objective on shares of Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, BMO Capital Markets boosted their target price on Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently 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.