Gildan Activewear Inc. (NYSE:GIL) Holdings Reduced by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. lowered its position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 9.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 35,100 shares of the textile maker’s stock after selling 3,800 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Gildan Activewear were worth $1,651,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Plato Investment Management Ltd acquired a new stake in Gildan Activewear in the 4th quarter valued at approximately $28,000. Fifth Third Bancorp grew its stake in shares of Gildan Activewear by 61.8% in the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock worth $41,000 after purchasing an additional 333 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Gildan Activewear by 500.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker’s stock valued at $42,000 after purchasing an additional 745 shares during the period. Venturi Wealth Management LLC raised its stake in shares of Gildan Activewear by 899.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock valued at $47,000 after purchasing an additional 908 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Gildan Activewear by 561.9% in the fourth quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker’s stock worth $67,000 after purchasing an additional 1,208 shares during the period. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Stock Down 0.8 %

Shares of Gildan Activewear stock opened at $41.21 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92. Gildan Activewear Inc. has a 12-month low of $32.23 and a 12-month high of $55.39. The firm has a market capitalization of $6.24 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 1.76 and a beta of 1.16. The stock’s fifty day moving average is $47.36 and its 200-day moving average is $48.18.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). The firm had revenue of $822.00 million for the quarter, compared to analysts’ expectations of $805.75 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. Gildan Activewear’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 earnings per share. Equities analysts anticipate that Gildan Activewear Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Increases Dividend

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

Analysts Set New Price Targets

A number of research firms have commented on GIL. CIBC boosted their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Canaccord Genuity Group boosted their target price on Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Stifel Nicolaus increased their price target on Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Citigroup boosted their price objective on Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, BMO Capital Markets upped their price objective on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target 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.