Alliancebernstein L.P. Cuts Stake in Gildan Activewear, Inc. (NYSE:GIL)
Alliancebernstein L.P. lowered its position in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 0.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 15,419 shares of the textile maker’s stock after selling 73 shares during the period. Alliancebernstein L.P.’s holdings in Gildan Activewear were worth $417,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of GIL. Dimensional Fund Advisors LP boosted its stake in shares of Gildan Activewear by 24.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 53,406 shares of the textile maker’s stock worth $1,355,000 after buying an additional 10,474 shares during the period. Gulf International Bank UK Ltd boosted its stake in shares of Gildan Activewear by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 70,574 shares of the textile maker’s stock worth $1,903,000 after buying an additional 900 shares during the period. Capstone Asset Management Co. boosted its stake in shares of Gildan Activewear by 7.9% in the first quarter. Capstone Asset Management Co. now owns 38,233 shares of the textile maker’s stock worth $1,034,000 after buying an additional 2,790 shares during the period. Hermes Investment Management Ltd. boosted its stake in shares of Gildan Activewear by 2.6% in the first quarter. Hermes Investment Management Ltd. now owns 1,325,889 shares of the textile maker’s stock worth $35,852,000 after buying an additional 33,310 shares during the period. Finally, Nationwide Fund Advisors acquired a new stake in shares of Gildan Activewear during the first quarter worth $1,801,000. 77.19% of the stock is currently owned by institutional investors.
Gildan Activewear, Inc. (NYSE GIL) traded up 0.182% during mid-day trading on Friday, hitting $30.225. 135,938 shares of the company were exchanged. Gildan Activewear, Inc. has a 12-month low of $23.55 and a 12-month high of $31.83. The company has a market cap of $6.78 billion, a price-to-earnings ratio of 18.296 and a beta of 0.72. The stock’s 50 day moving average is $30.50 and its 200-day moving average is $27.95.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Thursday, August 3rd. The textile maker reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.01. The company had revenue of $715.40 million during the quarter, compared to analysts’ expectations of $753.85 million. Gildan Activewear had a return on equity of 18.65% and a net margin of 14.16%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the business earned $0.41 earnings per share. Equities research analysts predict that Gildan Activewear, Inc. will post $1.70 EPS 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 dividend on an annualized basis and a dividend yield of 1.25%. Gildan Activewear’s dividend payout ratio is 22.42%.
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GIL has been the topic of a number of research reports. Royal Bank Of Canada increased their target price on shares of Gildan Activewear from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, April 24th. Zacks Investment Research cut shares of Gildan Activewear from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. TD Securities reissued a “buy” rating and set a $31.00 target price on shares of Gildan Activewear in a report on Thursday, April 27th. Finally, TheStreet cut shares of Gildan Activewear from a “b-” rating to a “c” rating in a report on Wednesday, May 3rd. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Gildan Activewear currently has an average rating of “Hold” and an average price target 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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