Schechter Investment Advisors LLC Decreases Stake in Gildan Activewear, Inc. (NYSE:GIL)

Schechter Investment Advisors LLC reduced its holdings in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,775 shares of the textile maker’s stock after selling 503 shares during the period. Schechter Investment Advisors LLC’s holdings in Gildan Activewear were worth $653,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Syon Capital LLC lifted its stake in Gildan Activewear by 3.9% in the 4th quarter. Syon Capital LLC now owns 6,524 shares of the textile maker’s stock worth $307,000 after purchasing an additional 242 shares in the last quarter. Huntington National Bank lifted its stake in Gildan Activewear by 16.4% in the 4th quarter. Huntington National Bank now owns 2,803 shares of the textile maker’s stock worth $132,000 after purchasing an additional 395 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in Gildan Activewear by 15.5% in the 1st quarter. TD Private Client Wealth LLC now owns 3,545 shares of the textile maker’s stock worth $157,000 after purchasing an additional 476 shares in the last quarter. Blue Trust Inc. lifted its position in Gildan Activewear by 69.3% during the first quarter. Blue Trust Inc. now owns 1,336 shares of the textile maker’s stock worth $59,000 after buying an additional 547 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in Gildan Activewear by 510.7% during the first quarter. Versant Capital Management Inc now owns 745 shares of the textile maker’s stock worth $33,000 after buying an additional 623 shares in the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GIL has been the topic of a number of analyst reports. TD Securities lifted their price objective on Gildan Activewear from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Barclays started coverage on Gildan Activewear in a report on Monday, April 28th. They set an “overweight” rating and a $51.00 price target on the stock. CIBC reduced their target price on shares of Gildan Activewear from $60.00 to $56.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Finally, Scotiabank raised shares of Gildan Activewear to a “strong-buy” rating and set a $55.00 target price on the stock in a research note on Wednesday, May 28th. Nine investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Gildan Activewear currently has a consensus rating of “Buy” and an average target price of $57.91.

Gildan Activewear Trading Down 0.2%

Shares of GIL stock opened at $50.93 on Tuesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.91 and a quick ratio of 1.59. The firm has a market cap of $7.63 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 1.64 and a beta of 1.19. The company has a 50-day moving average of $48.60 and a two-hundred day moving average of $47.83. Gildan Activewear, Inc. has a 1-year low of $37.16 and a 1-year high of $55.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Tuesday, April 29th. The textile maker reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $711.70 million during the quarter, compared to analyst estimates of $715.29 million. Gildan Activewear had a net margin of 12.38% and a return on equity of 30.61%. Gildan Activewear’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 earnings per share. On average, analysts predict that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th were given a dividend of $0.226 per share. The ex-dividend date was Tuesday, May 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.78%. Gildan Activewear’s dividend payout ratio is currently 34.75%.

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.