Gildan Activewear Inc. (NYSE:GIL) Holdings Lowered by Cerity Partners LLC

Cerity Partners LLC cut its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 29.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,586 shares of the textile maker’s stock after selling 5,134 shares during the period. Cerity Partners LLC’s holdings in Gildan Activewear were worth $592,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GIL. Fifth Third Bancorp boosted its stake in Gildan Activewear by 61.8% during the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock valued at $41,000 after buying an additional 333 shares in the last quarter. Cooper Financial Group raised its holdings in shares of Gildan Activewear by 2.1% in the 4th quarter. Cooper Financial Group now owns 16,268 shares of the textile maker’s stock worth $765,000 after purchasing an additional 340 shares in the last quarter. Huntington National Bank lifted its stake in Gildan Activewear by 16.4% during the fourth quarter. Huntington National Bank now owns 2,803 shares of the textile maker’s stock valued at $132,000 after purchasing an additional 395 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in Gildan Activewear by 19.1% during the fourth quarter. TD Private Client Wealth LLC now owns 3,069 shares of the textile maker’s stock worth $144,000 after buying an additional 492 shares in the last quarter. Finally, Plato Investment Management Ltd bought a new stake in shares of Gildan Activewear during the 4th quarter worth $28,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Stock Up 1.1 %

Shares of Gildan Activewear stock opened at $41.13 on Monday. Gildan Activewear Inc. has a 12-month low of $32.23 and a 12-month high of $55.39. The stock has a market capitalization of $6.23 billion, a P/E ratio of 16.45, a PEG ratio of 1.76 and a beta of 1.16. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92. The stock has a 50 day moving average price of $46.77 and a two-hundred day moving average price of $48.06.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.30). Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The firm had revenue of $822.00 million during the quarter, compared to the consensus estimate of $805.75 million. During the same quarter last year, the business earned $0.75 EPS. The business’s revenue was up 5.0% compared to the same quarter last year. Equities analysts expect that Gildan Activewear Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th were issued a $0.226 dividend. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.90 annualized dividend and a yield of 2.20%. Gildan Activewear’s dividend payout ratio is 36.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GIL. Stifel Nicolaus upped their target price on Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, February 20th. BMO Capital Markets raised their target price on shares of Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Canaccord Genuity Group lifted their price objective on shares of Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. CIBC boosted their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, UBS Group upped their target price on Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $60.00.

About Gildan Activewear

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.