Private Capital Management LLC Reduces Holdings in Gildan Activewear Inc (GIL)
Private Capital Management LLC trimmed its position in Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 724,734 shares of the textile maker’s stock after selling 6,725 shares during the period. Gildan Activewear comprises 2.9% of Private Capital Management LLC’s portfolio, making the stock its 15th biggest holding. Private Capital Management LLC owned about 0.35% of Gildan Activewear worth $20,409,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in GIL. Lester Murray Antman dba SimplyRich purchased a new position in Gildan Activewear in the second quarter worth about $205,000. Allianz Asset Management GmbH purchased a new position in shares of Gildan Activewear during the 1st quarter valued at about $208,000. Cornerstone Wealth Management LLC purchased a new position in shares of Gildan Activewear during the 2nd quarter valued at about $250,000. Stifel Financial Corp lifted its position in shares of Gildan Activewear by 36.9% during the 1st quarter. Stifel Financial Corp now owns 9,002 shares of the textile maker’s stock valued at $261,000 after buying an additional 2,425 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Gildan Activewear during the 2nd quarter valued at about $324,000. 71.63% of the stock is currently owned by institutional investors and hedge funds.
GIL has been the topic of a number of analyst reports. Zacks Investment Research raised Gildan Activewear from a “sell” rating to a “hold” rating in a research report on Thursday, May 31st. ValuEngine cut Gildan Activewear from a “hold” rating to a “sell” rating in a research report on Wednesday, June 6th. Bank of America cut Gildan Activewear from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $34.00 to $26.00 in a research report on Tuesday, July 24th. Desjardins cut Gildan Activewear from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. They noted that the move was a valuation call. Finally, Royal Bank of Canada lifted their price objective on Gildan Activewear from $32.00 to $33.00 and gave the company a “sector perform” rating in a research report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $33.00.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Thursday, August 2nd. The textile maker reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. The company had revenue of $764.20 million for the quarter, compared to the consensus estimate of $728.72 million. Gildan Activewear had a return on equity of 18.53% and a net margin of 12.51%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $0.48 EPS. equities analysts expect that Gildan Activewear Inc will post 1.88 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Thursday, August 16th were paid a dividend of $0.112 per share. This represents a $0.45 annualized dividend and a yield of 1.49%. The ex-dividend date was Wednesday, August 15th. Gildan Activewear’s dividend payout ratio (DPR) is presently 26.16%.
Gildan Activewear Company Profile
Gildan Activewear Inc manufactures and sells a range of apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.
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