Addenda Capital Inc. Sells 1,650 Shares of Gildan Activewear Inc. (NYSE:GIL)

Addenda Capital Inc. lowered its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 0.8% during the fourth quarter, HoldingsChannel reports. The firm owned 211,833 shares of the textile maker’s stock after selling 1,650 shares during the quarter. Addenda Capital Inc.’s holdings in Gildan Activewear were worth $9,967,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. American Century Companies Inc. lifted its stake in Gildan Activewear by 43.9% in the second quarter. American Century Companies Inc. now owns 122,159 shares of the textile maker’s stock valued at $4,633,000 after buying an additional 37,288 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Gildan Activewear by 12.3% during the second quarter. Envestnet Asset Management Inc. now owns 315,851 shares of the textile maker’s stock worth $11,977,000 after acquiring an additional 34,534 shares during the period. Dimensional Fund Advisors LP lifted its position in Gildan Activewear by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,148,030 shares of the textile maker’s stock valued at $43,533,000 after acquiring an additional 110,704 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Gildan Activewear by 11.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,918 shares of the textile maker’s stock worth $411,000 after purchasing an additional 1,117 shares during the period. Finally, Sei Investments Co. boosted its stake in Gildan Activewear by 497.4% in the 2nd quarter. Sei Investments Co. now owns 182,153 shares of the textile maker’s stock worth $6,907,000 after purchasing an additional 151,663 shares during the period. Institutional investors own 82.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GIL. BMO Capital Markets boosted their price target on Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus boosted their target price on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. TD Securities upped their price target on Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Citigroup lifted their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, CIBC increased their target price on shares of Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $53.35.

Gildan Activewear Price Performance

Shares of GIL opened at $49.78 on Tuesday. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. The company’s fifty day simple moving average is $48.30 and its 200 day simple moving average is $45.70. Gildan Activewear Inc. has a 1-year low of $31.22 and a 1-year high of $50.60. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 1.59 and a beta of 1.41.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 earnings per share 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 for the quarter, compared to analyst estimates of $882.85 million. During the same period in the previous year, the business earned $0.74 EPS. Gildan Activewear’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, research analysts forecast that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, November 21st were given a $0.152 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.22%. Gildan Activewear’s payout ratio is 32.41%.

Gildan Activewear 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.