Captrust Financial Advisors Sells 25,281 Shares of Gildan Activewear Inc. (NYSE:GIL)

Captrust Financial Advisors cut its position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 44.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,042 shares of the textile maker’s stock after selling 25,281 shares during the quarter. Captrust Financial Advisors’ holdings in Gildan Activewear were worth $1,462,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Cooper Financial Group increased its position in Gildan Activewear by 7.6% during the 2nd quarter. Cooper Financial Group now owns 22,422 shares of the textile maker’s stock valued at $850,000 after buying an additional 1,592 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Gildan Activewear by 9.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 27,857 shares of the textile maker’s stock valued at $1,056,000 after acquiring an additional 2,512 shares in the last quarter. ARS Investment Partners LLC increased its holdings in shares of Gildan Activewear by 34.5% during the second quarter. ARS Investment Partners LLC now owns 141,439 shares of the textile maker’s stock valued at $5,363,000 after acquiring an additional 36,304 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Gildan Activewear by 11.7% during the second quarter. Assenagon Asset Management S.A. now owns 7,156 shares of the textile maker’s stock valued at $271,000 after acquiring an additional 747 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of Gildan Activewear by 31.5% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,573,695 shares of the textile maker’s stock valued at $59,674,000 after acquiring an additional 377,135 shares in the last quarter. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Stock Down 1.8 %

Gildan Activewear stock opened at $48.24 on Friday. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 1.85 and a beta of 1.40. Gildan Activewear Inc. has a 52 week low of $30.68 and a 52 week high of $50.60. The business’s 50-day moving average price is $48.39 and its 200 day moving average price is $43.46. The company has a quick ratio of 0.98, a current ratio of 2.31 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 EPS for the quarter, hitting analysts’ consensus estimates of $0.85. The business had revenue of $891.10 million for the quarter, compared to analysts’ expectations of $882.85 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company earned $0.74 EPS. As a group, sell-side analysts anticipate that Gildan Activewear Inc. will post 2.97 earnings per share for the current year.

Gildan Activewear Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear’s dividend payout ratio (DPR) is presently 32.41%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GIL shares. TD Securities upped their price target 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. BMO Capital Markets upped their target price on Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. CIBC upped their target price on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Stifel Nicolaus increased their price objective on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group increased their price objective on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.05.

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.