Massachusetts Financial Services Co. MA Trims Position in Gildan Activewear Inc (GIL)

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Massachusetts Financial Services Co. MA decreased its stake in shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 450,216 shares of the textile maker’s stock after selling 12,327 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Gildan Activewear were worth $13,700,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Global X Management Co LLC lifted its position in Gildan Activewear by 145.3% during the 2nd quarter. Global X Management Co LLC now owns 6,390 shares of the textile maker’s stock worth $180,000 after buying an additional 3,785 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new position in Gildan Activewear during the 2nd quarter valued at about $250,000. Allianz Asset Management GmbH acquired a new position in Gildan Activewear during the 1st quarter valued at about $208,000. Lester Murray Antman dba SimplyRich acquired a new position in Gildan Activewear during the 2nd quarter valued at about $205,000. Finally, Jane Street Group LLC acquired a new position in Gildan Activewear during the 2nd quarter valued at about $221,000. Institutional investors and hedge funds own 70.76% of the company’s stock.

Gildan Activewear stock opened at $31.10 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.79 and a current ratio of 4.94. Gildan Activewear Inc has a 1 year low of $25.33 and a 1 year high of $34.19. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 1.43 and a beta of 0.72.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Thursday, November 1st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. The company had revenue of $754.40 million for the quarter, compared to the consensus estimate of $759.15 million. Gildan Activewear had a net margin of 12.28% and a return on equity of 18.80%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 EPS. On average, analysts forecast that Gildan Activewear Inc will post 1.86 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Thursday, November 15th will be paid a $0.085 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 1.09%. Gildan Activewear’s dividend payout ratio (DPR) is presently 26.16%.

A number of research analysts have issued reports on GIL shares. Raymond James restated a “strong-buy” rating and set a $40.00 target price on shares of Gildan Activewear in a research report on Friday, November 2nd. Desjardins upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating in a research report on Friday, November 2nd. Royal Bank of Canada upped their target price on shares of Gildan Activewear from $32.00 to $33.00 and gave the company a “sector perform” rating in a research report on Friday, August 3rd. Zacks Investment Research downgraded shares of Gildan Activewear from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. Finally, ValuEngine upgraded shares of Gildan Activewear from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $34.25.

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Gildan Activewear Profile

Gildan Activewear Inc manufactures and sells a range of apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.

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Institutional Ownership by Quarter for Gildan Activewear (NYSE:GIL)

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