Massachusetts Financial Services Co. MA Has $70.09 Million Stock Position in Gildan Activewear Inc. (NYSE:GIL)

Massachusetts Financial Services Co. MA lessened its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,487,800 shares of the textile maker’s stock after selling 26,329 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Gildan Activewear were worth $70,090,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Fortis Group Advisors LLC lifted its holdings in Gildan Activewear by 3.9% during the 3rd quarter. Fortis Group Advisors LLC now owns 6,601 shares of the textile maker’s stock worth $311,000 after buying an additional 246 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of 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 during the period. Aristides Capital LLC boosted its holdings in Gildan Activewear by 4.3% in the second 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 increased its position in Gildan Activewear by 23.0% during the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock valued at $80,000 after purchasing an additional 318 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Gildan Activewear by 96.1% in the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock worth $38,000 after purchasing an additional 397 shares during the period. Institutional investors own 82.83% of the company’s stock.

Analysts Set New Price Targets

GIL has been the subject of several recent analyst reports. TD Securities increased their price objective on shares of Gildan Activewear from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada lifted their price objective on 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 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. Stifel Nicolaus lifted their target price on Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group increased their price target on Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Gildan Activewear has an average rating of “Moderate Buy” and an average price target of $50.85.

Gildan Activewear Stock Performance

NYSE GIL opened at $49.83 on Monday. The company has a market cap of $7.68 billion, a P/E ratio of 19.70, a PEG ratio of 1.85 and a beta of 1.44. The company has a fifty day simple moving average of $47.77 and a 200 day simple moving average of $42.48. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. Gildan Activewear Inc. has a 12-month low of $30.68 and a 12-month high of $50.58.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The company had revenue of $891.10 million during the quarter, compared to the consensus estimate of $882.85 million. During the same period in the previous year, the firm posted $0.74 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Sell-side analysts predict that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be issued a $0.152 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.22%. Gildan Activewear’s dividend payout ratio is presently 32.41%.

Gildan Activewear Company 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.