Gildan Activewear Inc. (NYSE:GIL) Shares Sold by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. trimmed its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,100 shares of the textile maker’s stock after selling 3,800 shares during the period. Summit Investment Advisors Inc.’s holdings in Gildan Activewear were worth $1,651,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC acquired a new position in shares of Gildan Activewear during the 3rd quarter valued at $457,000. Wellington Management Group LLP raised its position in Gildan Activewear by 42.4% in the third quarter. Wellington Management Group LLP now owns 29,724 shares of the textile maker’s stock valued at $1,401,000 after purchasing an additional 8,855 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Gildan Activewear during the third quarter worth about $591,000. M&T Bank Corp boosted its position in shares of Gildan Activewear by 24.3% in the third quarter. M&T Bank Corp now owns 8,089 shares of the textile maker’s stock worth $381,000 after buying an additional 1,582 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Gildan Activewear by 7.0% in the third quarter. Geode Capital Management LLC now owns 637,407 shares of the textile maker’s stock valued at $29,708,000 after buying an additional 41,735 shares in the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Gildan Activewear Price Performance

Shares of NYSE GIL opened at $41.21 on Wednesday. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 1.76 and a beta of 1.16. Gildan Activewear Inc. has a twelve month low of $32.23 and a twelve month high of $55.39. The business has a 50 day simple moving average of $47.36 and a 200-day simple moving average of $48.18.

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

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Wednesday, March 12th were issued a $0.226 dividend. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, March 12th. This represents a $0.90 annualized dividend and a dividend yield of 2.19%. Gildan Activewear’s dividend payout ratio (DPR) is 36.00%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. UBS Group upped their price target on Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Stifel Nicolaus raised their price target on shares of 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 boosted their price objective 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. TD Securities raised their target price on Gildan Activewear from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, Citigroup lifted their target price on Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company 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.