Canada Pension Plan Investment Board cut its stake in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 65.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 147,810 shares of the textile maker’s stock after selling 275,890 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.07% of Gildan Activewear worth $4,608,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Commonwealth Bank of Australia grew its holdings in shares of Gildan Activewear by 9.7% during the second quarter. Commonwealth Bank of Australia now owns 3,414 shares of the textile maker’s stock valued at $103,000 after purchasing an additional 303 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Gildan Activewear by 133.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 3,475 shares of the textile maker’s stock valued at $106,000 after purchasing an additional 1,988 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Gildan Activewear by 43.2% during the first quarter. PNC Financial Services Group Inc. now owns 3,968 shares of the textile maker’s stock valued at $107,000 after purchasing an additional 1,198 shares during the last quarter. Global X Management Co. LLC grew its holdings in shares of Gildan Activewear by 33.1% during the second quarter. Global X Management Co. LLC now owns 3,591 shares of the textile maker’s stock valued at $110,000 after purchasing an additional 893 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. bought a new position in shares of Gildan Activewear during the second quarter valued at approximately $209,000. 73.65% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on the company. TD Securities downgraded Gildan Activewear from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $32.00 to $33.00 in a research report on Friday, August 4th. BMO Capital Markets downgraded Gildan Activewear from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $34.00 to $30.00 in a research report on Friday, November 3rd. Zacks Investment Research downgraded Gildan Activewear from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. Royal Bank Of Canada reiterated a “hold” rating on shares of Gildan Activewear in a research report on Tuesday, November 7th. Finally, National Bank Financial downgraded Gildan Activewear from an “outperform” rating to a “sector perform” rating in a research report on Friday, August 4th. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $32.20.
Shares of Gildan Activewear, Inc. (NYSE GIL) opened at $30.09 on Wednesday. The firm has a market capitalization of $6,619.75, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 1.31 and a beta of 0.74. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.13 and a quick ratio of 1.72. Gildan Activewear, Inc. has a 52-week low of $23.55 and a 52-week high of $32.15.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Thursday, November 2nd. The textile maker reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. The firm had revenue of $716.40 million during the quarter, compared to the consensus estimate of $748.86 million. Gildan Activewear had a return on equity of 18.80% and a net margin of 14.21%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 earnings per share. equities analysts predict that Gildan Activewear, Inc. will post 1.71 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Thursday, November 16th will be given a $0.094 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $0.38 dividend on an annualized basis and a yield of 1.25%. Gildan Activewear’s dividend payout ratio (DPR) is 22.02%.
Gildan Activewear announced that its board has authorized a share repurchase program on Thursday, November 2nd that permits the company to repurchase 4,600,000 shares. This repurchase authorization permits the textile maker to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Gildan Activewear Company Profile
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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