Rothschild Asset Management Inc. reduced its stake in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 13.2% during the second quarter, Holdings Channel reports. The institutional investor owned 40,677 shares of the textile maker’s stock after selling 6,176 shares during the period. Rothschild Asset Management Inc.’s holdings in Gildan Activewear were worth $1,621,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of GIL. Pembroke Management LTD raised 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 valued at $47,867,000 after buying an additional 158,200 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of 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 last quarter. Wells Fargo & Company MN increased its position in shares of 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 last quarter. BB&T Corp purchased a new position in shares of Gildan Activewear during the first quarter worth about $270,000. Finally, AMF Pensionsforsakring AB increased its position in shares of 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 last quarter. Institutional investors and hedge funds own 77.19% of the company’s stock.

Shares of Gildan Activewear, Inc. (NYSE:GIL) opened at 31.00 on Wednesday. The stock has a 50 day moving average of $30.53 and a 200 day moving average of $27.79. Gildan Activewear, Inc. has a 12-month low of $23.55 and a 12-month high of $31.83. The stock has a market capitalization of $6.98 billion, a P/E ratio of 19.68 and a beta of 0.72.

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

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Thursday, August 17th will be given a $0.094 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $0.38 dividend on an annualized basis and a yield of 1.21%. Gildan Activewear’s dividend payout ratio (DPR) is 22.42%.

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GIL has been the topic of a number of analyst reports. Royal Bank Of Canada downgraded shares of Gildan Activewear from an “outperform” rating to a “sector perform” rating and set a $31.00 price objective on the stock. in a research report on Tuesday, July 11th. CIBC raised shares of Gildan Activewear from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, June 28th. Zacks Investment Research downgraded shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. TD Securities lifted their price objective on shares of Gildan Activewear from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, May 4th. Finally, TheStreet downgraded shares of Gildan Activewear from a “b-” rating to a “c” rating in a research report on Wednesday, May 3rd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Gildan Activewear has an average rating of “Hold” and an average price target of $35.14.

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

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