Great West Life Assurance Co. Can Has $3.73 Million Stock Holdings in Gildan Activewear Inc. (NYSE:GIL)

Great West Life Assurance Co. Can decreased its stake in shares of Gildan Activewear Inc. (NYSE:GILGet Rating) (TSE:GIL) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 131,528 shares of the textile maker’s stock after selling 4,296 shares during the period. Great West Life Assurance Co. Can’s holdings in Gildan Activewear were worth $3,726,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. M&G Investment Management Ltd. bought a new stake in shares of Gildan Activewear during the 3rd quarter worth about $230,000. Addison Advisors LLC boosted its holdings in shares of 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. Assenagon Asset Management S.A. bought a new stake in shares of Gildan Activewear during the 3rd quarter worth about $231,000. Achmea Investment Management B.V. boosted its holdings in Gildan Activewear by 0.9% in the 3rd quarter. Achmea Investment Management B.V. now owns 127,211 shares of the textile maker’s stock valued at $3,615,000 after purchasing an additional 1,089 shares during the period. Finally, Strs Ohio bought a new stake in Gildan Activewear in the 3rd quarter valued at about $5,683,000. Institutional investors own 75.07% of the company’s stock.

Wall Street Analysts Forecast Growth

GIL has been the subject of a number of recent research reports. Desjardins reissued a “buy” rating on shares of Gildan Activewear in a report on Friday, October 14th. Royal Bank of Canada cut their price objective on shares of Gildan Activewear from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Wednesday, November 2nd. National Bank Financial boosted their price objective on shares of Gildan Activewear from C$43.00 to C$45.00 in a report on Monday, October 17th. TD Securities downgraded shares of Gildan Activewear from a “buy” rating to a “hold” rating and cut their price objective for the company from $43.00 to $36.00 in a report on Monday. Finally, StockNews.com initiated coverage on shares of Gildan Activewear in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Gildan Activewear currently has a consensus rating of “Moderate Buy” and an average target price of $41.38.

Gildan Activewear Stock Performance

Shares of Gildan Activewear stock opened at $30.45 on Tuesday. The company has a 50 day moving average of $28.66 and a 200-day moving average of $29.51. Gildan Activewear Inc. has a 1-year low of $25.67 and a 1-year high of $41.91. The company has a current ratio of 2.58, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market cap of $5.47 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 1.12 and a beta of 1.24.

Gildan Activewear (NYSE:GILGet Rating) (TSE:GIL) last issued its quarterly earnings results on Thursday, November 3rd. The textile maker reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Gildan Activewear had a net margin of 19.11% and a return on equity of 32.33%. The company had revenue of $850.00 million during the quarter, compared to the consensus estimate of $836.47 million. During the same quarter in the prior year, the firm posted $0.80 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts forecast that Gildan Activewear Inc. will post 3.13 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 19th. Investors of record on Wednesday, November 23rd were given a dividend of $0.169 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Tuesday, November 22nd. Gildan Activewear’s dividend payout ratio is 20.30%.

Gildan Activewear Company Profile

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Gildan Activewear, Inc is engaged in the manufacturing and sale of printwear and branded apparel. Its products include activewear, underwear, socks, hosiery, and legwear. The firm operates under the brand name Gildan, Alstyle, American Apparel, Comfort Colors, GOLD TOE, Anvil, Secret, Silks, and Peds.

Further Reading

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

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