Mn Services Vermogensbeheer B.V. Has $2.95 Million Stock Position in Gildan Activewear Inc. (NYSE:GIL)

Mn Services Vermogensbeheer B.V. lowered its stake in Gildan Activewear Inc. (NYSE:GILGet Rating) (TSE:GIL) by 5.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 103,873 shares of the textile maker’s stock after selling 6,200 shares during the quarter. Mn Services Vermogensbeheer B.V. owned about 0.06% of Gildan Activewear worth $2,952,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Crossmark Global Holdings Inc. raised its stake in Gildan Activewear by 2.7% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 20,542 shares of the textile maker’s stock worth $591,000 after buying an additional 533 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Gildan Activewear by 180.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 927 shares of the textile maker’s stock worth $27,000 after buying an additional 597 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Gildan Activewear by 0.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 132,666 shares of the textile maker’s stock worth $3,818,000 after buying an additional 710 shares during the period. Arjuna Capital raised its stake in Gildan Activewear by 1.7% during the 2nd quarter. Arjuna Capital now owns 44,617 shares of the textile maker’s stock worth $1,284,000 after buying an additional 740 shares during the period. Finally, Addison Advisors LLC raised its stake in Gildan Activewear by 311.9% during the 3rd quarter. Addison Advisors LLC now owns 1,071 shares of the textile maker’s stock worth $30,000 after buying an additional 811 shares during the period. Institutional investors and hedge funds own 75.07% of the company’s stock.

Gildan Activewear Price Performance

Shares of NYSE GIL opened at $31.05 on Tuesday. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 1.12 and a beta of 1.24. The business has a 50-day moving average of $28.38 and a 200-day moving average of $29.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.58 and a quick ratio of 0.92. Gildan Activewear Inc. has a fifty-two week low of $25.67 and a fifty-two week high of $42.02.

Gildan Activewear (NYSE:GILGet Rating) (TSE:GIL) last announced its quarterly earnings data on Thursday, November 3rd. The textile maker reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. The company had revenue of $850.00 million during the quarter, compared to analysts’ expectations of $836.47 million. Gildan Activewear had a return on equity of 32.33% and a net margin of 19.11%. Gildan Activewear’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 EPS. As a group, sell-side analysts predict that Gildan Activewear Inc. will post 3.13 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 19th. Stockholders of record on Wednesday, November 23rd were issued a $0.169 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Tuesday, November 22nd. Gildan Activewear’s payout ratio is 20.30%.

Analysts Set New Price Targets

Several analysts recently commented on GIL shares. Desjardins reaffirmed a “buy” rating on shares of Gildan Activewear in a research note on Friday, October 14th. StockNews.com initiated coverage on Gildan Activewear in a report on Wednesday, October 12th. They set a “hold” rating for the company. TD Securities lowered their target price on Gildan Activewear from $44.00 to $43.00 and set a “buy” rating for the company in a report on Friday, October 7th. National Bank Financial increased their target price on Gildan Activewear from C$43.00 to C$45.00 in a report on Monday, October 17th. Finally, Royal Bank of Canada lowered their target price on Gildan Activewear from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Wednesday, November 2nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.25.

About Gildan Activewear

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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, Comfort Colors, American Apparel, Alstyle, and GoldToe brands.

Further Reading

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

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