Barclays PLC Trims Stake in Gildan Activewear Inc. (NYSE:GIL)

Barclays PLC lowered its position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 60.8% in the 3rd quarter, Holdings Channel reports. The fund owned 2,943 shares of the textile maker’s stock after selling 4,562 shares during the quarter. Barclays PLC’s holdings in Gildan Activewear were worth $138,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fortis Group Advisors LLC grew its position in shares of Gildan Activewear by 3.9% in the 3rd quarter. Fortis Group Advisors LLC now owns 6,601 shares of the textile maker’s stock worth $311,000 after buying an additional 246 shares during the period. Aristides Capital LLC lifted its position in Gildan Activewear by 4.3% during 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 during the period. CWM LLC boosted its stake in Gildan Activewear by 23.0% during the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after acquiring an additional 318 shares in the last quarter. Blue Trust Inc. grew its holdings in Gildan Activewear by 96.1% in the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock worth $38,000 after purchasing an additional 397 shares during the period. Finally, Azzad Asset Management Inc. ADV increased its stake in shares of Gildan Activewear by 0.5% during the third 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 in the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Citigroup upped their price target on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. TD Securities increased their target price on Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. BMO Capital Markets lifted their price target on Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Canaccord Genuity Group upped their price target on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, CIBC raised their price objective 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. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $52.61.

Gildan Activewear Price Performance

NYSE:GIL opened at $46.45 on Wednesday. The business’s 50-day moving average is $48.44 and its 200 day moving average is $44.96. Gildan Activewear Inc. has a 12 month low of $30.68 and a 12 month high of $50.60. The company has a market capitalization of $7.10 billion, a P/E ratio of 18.36, a P/E/G ratio of 1.82 and a beta of 1.41. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The business had revenue of $891.10 million for the quarter, compared to analysts’ expectations of $882.85 million. During the same period in the prior year, the firm earned $0.74 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities research 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 announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, November 21st were given a dividend of $0.152 per share. This represents a $0.61 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Thursday, November 21st. Gildan Activewear’s dividend payout ratio is 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.