Cannell & Spears LLC Trims Stock Position in Gildan Activewear Inc. (NYSE:GIL)

Cannell & Spears LLC trimmed its stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 29.9% in the fourth quarter, Holdings Channel reports. The fund owned 368,881 shares of the textile maker’s stock after selling 157,009 shares during the period. Cannell & Spears LLC’s holdings in Gildan Activewear were worth $17,356,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of GIL. Plato Investment Management Ltd purchased a new position in Gildan Activewear in the 4th quarter valued at $28,000. Fifth Third Bancorp boosted its holdings in shares of Gildan Activewear by 61.8% in the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock valued at $41,000 after acquiring an additional 333 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Gildan Activewear by 500.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker’s stock worth $42,000 after acquiring an additional 745 shares during the period. Venturi Wealth Management LLC raised its holdings in Gildan Activewear by 899.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock worth $47,000 after purchasing an additional 908 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in Gildan Activewear by 561.9% in the fourth quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker’s stock valued at $67,000 after purchasing an additional 1,208 shares during the period. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Trading Up 0.3 %

Shares of GIL opened at $44.94 on Monday. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98. Gildan Activewear Inc. has a 1-year low of $32.23 and a 1-year high of $55.39. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of 17.98, a price-to-earnings-growth ratio of 1.76 and a beta of 1.39. The firm has a 50 day simple moving average of $50.21 and a 200-day simple moving average of $48.69.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.30). The company had revenue of $822.00 million for the quarter, compared to analysts’ expectations of $805.75 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 EPS. Equities analysts forecast that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.226 per share. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Wednesday, March 12th. Gildan Activewear’s dividend payout ratio (DPR) is currently 36.00%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GIL. Citigroup increased their target price on Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Stifel Nicolaus raised their target price on Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, February 20th. BMO Capital Markets increased their price target on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Canaccord Genuity Group raised their price objective on shares of Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, UBS Group upped their target price on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $60.00.

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.