Gildan Activewear Inc. (NYSE:GIL) Shares Sold by Willis Investment Counsel

Willis Investment Counsel lowered its position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 6.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 37,675 shares of the textile maker’s stock after selling 2,386 shares during the quarter. Willis Investment Counsel’s holdings in Gildan Activewear were worth $1,215,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Cerity Partners LLC purchased a new stake in shares of Gildan Activewear in the first quarter worth about $1,608,000. Addison Advisors LLC boosted its stake in shares of Gildan Activewear by 97.5% in the first quarter. Addison Advisors LLC now owns 1,627 shares of the textile maker’s stock worth $54,000 after buying an additional 803 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in shares of Gildan Activewear in the fourth quarter worth about $57,000. PNC Financial Services Group Inc. boosted its stake in shares of Gildan Activewear by 36.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,381 shares of the textile maker’s stock worth $127,000 after buying an additional 896 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of Gildan Activewear by 11.4% in the first quarter. Jones Financial Companies Lllp now owns 3,413 shares of the textile maker’s stock worth $113,000 after buying an additional 348 shares during the last quarter. Hedge funds and other institutional investors own 79.09% of the company’s stock.

Gildan Activewear Price Performance

Shares of Gildan Activewear stock traded up $0.22 during mid-day trading on Friday, reaching $28.37. 712,033 shares of the stock traded hands, compared to its average volume of 548,316. The business has a 50-day moving average of $30.29 and a 200 day moving average of $30.79. Gildan Activewear Inc. has a fifty-two week low of $26.30 and a fifty-two week high of $34.33. The stock has a market capitalization of $4.96 billion, a PE ratio of 10.43, a PEG ratio of 1.21 and a beta of 1.28. The company has a quick ratio of 1.16, a current ratio of 3.22 and a debt-to-equity ratio of 0.55.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Thursday, August 3rd. The textile maker reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Gildan Activewear had a return on equity of 24.47% and a net margin of 15.73%. The business had revenue of $840.40 million during the quarter, compared to analysts’ expectations of $822.03 million. On average, analysts predict that Gildan Activewear Inc. will post 2.59 EPS for the current year.

Gildan Activewear Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Thursday, August 24th will be issued a $0.186 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.74 annualized dividend and a dividend yield of 2.62%. Gildan Activewear’s dividend payout ratio is presently 27.21%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Stifel Nicolaus upped their target price on Gildan Activewear from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Royal Bank of Canada reduced their price target on Gildan Activewear from $40.00 to $36.00 and set an “outperform” rating for the company in a report on Friday, August 4th. Citigroup reduced their price target on Gildan Activewear from $42.00 to $40.00 and set a “buy” rating for the company in a report on Friday, August 4th. CIBC reduced their price target on Gildan Activewear from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Friday, August 4th. Finally, TD Securities raised Gildan Activewear from a “hold” rating to a “buy” rating and upped their price target for the stock from $36.00 to $38.00 in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.43.

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