Gildan Activewear Inc. (NYSE:GIL) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lowered its stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 33.4% in the third quarter, HoldingsChannel reports. The firm owned 9,669 shares of the textile maker’s stock after selling 4,841 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Gildan Activewear were worth $455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in GIL. Fortis Group Advisors LLC increased its position in shares of Gildan Activewear by 3.9% during the 3rd quarter. Fortis Group Advisors LLC now owns 6,601 shares of the textile maker’s stock valued at $311,000 after purchasing an additional 246 shares during the period. EverSource Wealth Advisors LLC raised its position in Gildan Activewear by 16.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock worth $66,000 after acquiring an additional 274 shares in the last quarter. Aristides Capital LLC lifted its holdings in Gildan Activewear by 4.3% in the 2nd quarter. Aristides Capital LLC now owns 7,617 shares of the textile maker’s stock valued at $289,000 after acquiring an additional 314 shares during the last quarter. CWM LLC lifted its holdings in Gildan Activewear by 23.0% in the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock valued at $80,000 after acquiring an additional 318 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Gildan Activewear by 96.1% during the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 397 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Citigroup upped their target price on Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 1st. CIBC upped their price objective on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Royal Bank of Canada lifted their target price on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. BMO Capital Markets upped their price target on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus lifted their price objective on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.85.

Gildan Activewear Stock Up 0.3 %

Shares of NYSE GIL opened at $48.29 on Friday. The firm has a 50 day moving average price of $47.31 and a 200 day moving average price of $41.81. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31. The stock has a market cap of $7.44 billion, a P/E ratio of 19.09, a P/E/G ratio of 1.81 and a beta of 1.44. Gildan Activewear Inc. has a 52-week low of $30.68 and a 52-week high of $50.58.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. The company had revenue of $891.10 million during 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 quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.74 earnings per share. Analysts expect that Gildan Activewear Inc. will post 2.97 EPS for the current year.

Gildan Activewear Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be paid a $0.152 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.61 annualized dividend and a dividend yield of 1.26%. Gildan Activewear’s dividend payout ratio is presently 32.41%.

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.