17,000 Gildan Activewear, Inc. $GIL Shares Sold by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. lowered its stake in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 7.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 209,300 shares of the textile maker’s stock after selling 17,000 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Gildan Activewear were worth $8,938,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in GIL. Cooper Financial Group raised its position in Gildan Activewear by 3.2% in the third quarter. Cooper Financial Group now owns 13,270 shares of the textile maker’s stock worth $566,000 after acquiring an additional 407 shares during the period. Byrne Asset Management LLC purchased a new position in Gildan Activewear in the third quarter valued at about $136,000. Versant Capital Management Inc grew its position in shares of Gildan Activewear by 26.2% during the 3rd quarter. Versant Capital Management Inc now owns 4,499 shares of the textile maker’s stock valued at $192,000 after acquiring an additional 933 shares during the period. Andra AP fonden bought a new position in shares of Gildan Activewear during the 2nd quarter valued at approximately $784,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Gildan Activewear during the 2nd quarter worth approximately $459,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GIL shares. TD lowered their price target on shares of Gildan Activewear from $80.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, September 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Gildan Activewear in a report on Thursday, August 13th. TD Securities decreased their target price on Gildan Activewear from $80.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, September 24th. Scotia boosted their target price on Gildan Activewear from $65.00 to $67.00 and gave the company a “sector outperform” rating in a research note on Friday, July 31st. Finally, Scotiabank restated a “sector outperform” rating and issued a $67.00 target price (up from $65.00) on shares of Gildan Activewear in a research note on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.77.

Gildan Activewear Stock Performance

Shares of GIL traded down $0.32 during trading hours on Tuesday, hitting $41.84. The company’s stock had a trading volume of 1,869,371 shares, compared to its average volume of 1,453,677. The company has a market cap of $7.75 billion, a price-to-earnings ratio of 80.46 and a beta of 1.11. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.93 and a quick ratio of 1.01. The business has a 50 day simple moving average of $49.91 and a two-hundred day simple moving average of $53.74. Gildan Activewear, Inc. has a 52-week low of $39.93 and a 52-week high of $73.69.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Thursday, July 30th. The textile maker reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.17. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.61 billion. Gildan Activewear had a net margin of 1.28% and a return on equity of 21.03%. The company’s quarterly revenue was up 72.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.97 earnings per share. On average, equities analysts expect that Gildan Activewear, Inc. will post 4.67 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Thursday, August 20th were paid a $0.2490 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Thursday, August 20th. Gildan Activewear’s payout ratio is currently 190.38%.

Gildan Activewear Profile

Gildan Activewear Inc is a Canadian apparel manufacturer headquartered in Montreal, Quebec. The company produces basic everyday apparel, including T-shirts, fleece garments, underwear, socks and hosiery, for wholesalers, retailers, screen printers, brands and consumers.

Its portfolio includes the Gildan, American Apparel, Comfort Colors and Gold Toe brands, along with other product lines serving the activewear, casualwear and innerwear markets. Gildan also manufactures private-label and co-branded products for customers in several apparel categories.

Founded in 1984 by brothers Glenn and Greg Chamandy, Gildan has developed a vertically integrated manufacturing model that covers key stages from textile production through finished garments.