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:GIL – Get 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:GIL – Get 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.