World Asset Management Inc cut its position in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 8.7% during the second quarter, Holdings Channel reports. The firm owned 13,256 shares of the textile maker’s stock after selling 1,256 shares during the period. World Asset Management Inc’s holdings in Gildan Activewear were worth $407,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Pembroke Management LTD increased its stake in Gildan Activewear by 13.5% in the first quarter. Pembroke Management LTD now owns 1,332,230 shares of the textile maker’s stock worth $47,867,000 after buying an additional 158,200 shares during the period. Canada Pension Plan Investment Board increased its stake in Gildan Activewear by 6.1% in the first quarter. Canada Pension Plan Investment Board now owns 221,200 shares of the textile maker’s stock worth $5,959,000 after buying an additional 12,672 shares during the period. Wells Fargo & Company MN increased its stake in Gildan Activewear by 73.7% in the first quarter. Wells Fargo & Company MN now owns 105,479 shares of the textile maker’s stock worth $2,853,000 after buying an additional 44,747 shares during the period. BB&T Corp bought a new stake in Gildan Activewear during the first quarter worth about $270,000. Finally, AMF Pensionsforsakring AB increased its stake in Gildan Activewear by 3.3% in the first quarter. AMF Pensionsforsakring AB now owns 260,968 shares of the textile maker’s stock worth $7,031,000 after buying an additional 8,230 shares during the period. 77.19% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear, Inc. (NYSE:GIL) opened at 30.13 on Friday. The company has a 50 day moving average of $30.46 and a 200-day moving average of $27.98. Gildan Activewear, Inc. has a one year low of $23.55 and a one year high of $31.83. The firm has a market cap of $6.76 billion, a PE ratio of 18.24 and a beta of 0.72.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Thursday, August 3rd. The textile maker reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Gildan Activewear had a net margin of 14.16% and a return on equity of 18.65%. The firm had revenue of $715.40 million for the quarter, compared to analyst estimates of $753.85 million. During the same quarter last year, the firm posted $0.41 earnings per share. Gildan Activewear’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts predict that Gildan Activewear, Inc. will post $1.70 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Thursday, August 17th will be issued a $0.094 dividend. The ex-dividend date is Tuesday, August 15th. This represents a $0.38 annualized dividend and a yield of 1.25%. Gildan Activewear’s payout ratio is 22.42%.

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A number of equities research analysts have recently issued reports on the stock. CIBC raised shares of Gildan Activewear from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, June 28th. Zacks Investment Research raised shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Monday, June 19th. Royal Bank Of Canada downgraded 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 research note on Tuesday, July 11th. Canaccord Genuity downgraded shares of Gildan Activewear from a “buy” rating to a “hold” rating and set a $32.00 price target on the stock. in a research note on Wednesday, July 12th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $34.00 price target (up from $32.00) on shares of Gildan Activewear in a research note on Friday, August 4th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Gildan Activewear has an average rating of “Hold” and an average target price of $35.14.

About Gildan Activewear

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

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