Marathon Asset Management Ltd Sells 19,773 Shares of Gildan Activewear Inc. (NYSE:GIL)

Marathon Asset Management Ltd lowered its position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 2.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 959,701 shares of the textile maker’s stock after selling 19,773 shares during the quarter. Gildan Activewear accounts for approximately 1.2% of Marathon Asset Management Ltd’s investment portfolio, making the stock its 29th largest position. Marathon Asset Management Ltd owned approximately 0.58% of Gildan Activewear worth $45,223,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in GIL. Mather Group LLC. acquired a new position in Gildan Activewear in the 1st quarter valued at approximately $122,000. Cooper Financial Group raised its position in Gildan Activewear by 9.7% during the 1st quarter. Cooper Financial Group now owns 20,830 shares of the textile maker’s stock worth $773,000 after purchasing an additional 1,835 shares during the last quarter. Game Plan Financial Advisors LLC lifted its holdings in Gildan Activewear by 101.7% during the 1st quarter. Game Plan Financial Advisors LLC now owns 64,268 shares of the textile maker’s stock worth $2,386,000 after buying an additional 32,397 shares during the period. Addenda Capital Inc. grew its position in shares of Gildan Activewear by 0.4% in the 1st quarter. Addenda Capital Inc. now owns 212,701 shares of the textile maker’s stock valued at $7,898,000 after buying an additional 800 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of Gildan Activewear by 14.8% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,560 shares of the textile maker’s stock valued at $44,429,000 after buying an additional 154,345 shares during the period. Institutional investors own 82.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on GIL shares. BMO Capital Markets upped their target price on Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. TD Securities increased their price objective on shares of Gildan Activewear from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday. Stifel Nicolaus boosted their target price on shares of Gildan Activewear from $51.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Royal Bank of Canada upped their price target on shares of Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Gildan Activewear currently has an average rating of “Moderate Buy” and a consensus target price of $45.68.

Gildan Activewear Stock Performance

NYSE GIL opened at $47.41 on Friday. The company has a current ratio of 2.35, a quick ratio of 0.97 and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $45.14 and a 200 day simple moving average of $39.98. Gildan Activewear Inc. has a 12-month low of $27.24 and a 12-month high of $48.01. The company has a market cap of $7.85 billion, a P/E ratio of 16.02, a PEG ratio of 1.81 and a beta of 1.43.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. The business had revenue of $862.20 million during the quarter, compared to the consensus estimate of $851.10 million. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. Gildan Activewear’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.63 earnings per share. Sell-side analysts predict that Gildan Activewear Inc. will post 2.92 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 22nd were paid a $0.205 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.82 annualized dividend and a yield of 1.73%. Gildan Activewear’s dividend payout ratio (DPR) is 27.70%.

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.