Fiera Capital Corp Lowers Position in Gildan Activewear, Inc. (GIL)
Fiera Capital Corp lessened its stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 57.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,361,446 shares of the textile maker’s stock after selling 3,186,467 shares during the quarter. Fiera Capital Corp owned approximately 1.05% of Gildan Activewear worth $72,438,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Alliancebernstein L.P. raised its holdings in shares of Gildan Activewear by 59.5% in the 2nd quarter. Alliancebernstein L.P. now owns 24,599 shares of the textile maker’s stock worth $756,000 after purchasing an additional 9,180 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Gildan Activewear by 6.8% in the 2nd quarter. Wells Fargo & Company MN now owns 112,697 shares of the textile maker’s stock worth $3,464,000 after purchasing an additional 7,218 shares during the period. Commonwealth Bank of Australia raised its holdings in shares of Gildan Activewear by 9.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 3,414 shares of the textile maker’s stock worth $103,000 after purchasing an additional 303 shares during the period. AGF Investments Inc. raised its holdings in shares of Gildan Activewear by 8,373.2% in the 2nd quarter. AGF Investments Inc. now owns 543,472 shares of the textile maker’s stock worth $16,710,000 after purchasing an additional 537,058 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Gildan Activewear by 9.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 28,085 shares of the textile maker’s stock worth $863,000 after purchasing an additional 2,347 shares during the period. 72.57% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on GIL shares. Royal Bank Of Canada cut shares of Gildan Activewear from an “outperform” rating to a “sector perform” rating and set a $31.00 price target on the stock. in a report on Tuesday, July 11th. CIBC raised shares of Gildan Activewear from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, June 28th. Zacks Investment Research cut shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Monday, May 22nd. Finally, Canaccord Genuity set a $32.00 price target on shares of Gildan Activewear and gave the stock a “buy” rating in a report on Friday, July 7th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $35.29.
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Gildan Activewear, Inc. (NYSE GIL) traded down 0.03% on Tuesday, reaching $31.59. 59,048 shares of the company were exchanged. The firm has a 50-day moving average of $30.55 and a 200 day moving average of $28.84. Gildan Activewear, Inc. has a 12-month low of $23.55 and a 12-month high of $31.83. The firm has a market capitalization of $7.09 billion, a P/E ratio of 19.12 and a beta of 0.70.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, August 3rd. The textile maker reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The company had revenue of $715.40 million during the quarter, compared to analysts’ expectations of $753.85 million. Gildan Activewear had a net margin of 14.16% and a return on equity of 18.65%. Gildan Activewear’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the company posted $0.41 earnings per share. On average, equities analysts predict that Gildan Activewear, Inc. will post $1.70 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Thursday, August 17th were paid a dividend of $0.094 per share. The ex-dividend date was Tuesday, August 15th. This represents a $0.38 annualized dividend and a yield of 1.19%. Gildan Activewear’s payout ratio is 22.42%.
Gildan Activewear Profile
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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