Sanctuary Advisors LLC Reduces Holdings in Gildan Activewear, Inc. $GIL

Sanctuary Advisors LLC reduced its stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 63.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,175 shares of the textile maker’s stock after selling 12,352 shares during the period. Sanctuary Advisors LLC’s holdings in Gildan Activewear were worth $399,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Gildan Activewear by 26.0% during the fourth quarter. Vanguard Group Inc. now owns 7,566,962 shares of the textile maker’s stock valued at $472,964,000 after purchasing an additional 1,561,729 shares during the period. Mackenzie Financial Corp increased its stake in shares of Gildan Activewear by 41.2% in the fourth quarter. Mackenzie Financial Corp now owns 6,860,108 shares of the textile maker’s stock worth $429,382,000 after buying an additional 2,001,279 shares during the period. Caisse de depot et placement du Quebec increased its stake in shares of Gildan Activewear by 1,695.7% in the fourth quarter. Caisse de depot et placement du Quebec now owns 6,240,014 shares of the textile maker’s stock worth $390,539,000 after buying an additional 5,892,514 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Gildan Activewear by 27.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 5,797,077 shares of the textile maker’s stock valued at $363,102,000 after buying an additional 1,252,985 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in Gildan Activewear by 16.4% during the 4th quarter. Royal Bank of Canada now owns 5,717,871 shares of the textile maker’s stock valued at $357,138,000 after buying an additional 805,396 shares during the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. TD Securities reissued a “buy” rating on shares of Gildan Activewear in a report on Tuesday, June 16th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Gildan Activewear in a research note on Wednesday, June 17th. UBS Group reiterated a “buy” rating on shares of Gildan Activewear in a report on Friday, July 17th. Scotia cut their target price on Gildan Activewear from $72.00 to $65.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, June 17th. Finally, Stifel Nicolaus set a $80.00 price target on Gildan Activewear and gave the company a “buy” rating in a report on Monday, July 20th. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Gildan Activewear currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.21.

Gildan Activewear Price Performance

Shares of NYSE GIL opened at $51.10 on Thursday. Gildan Activewear, Inc. has a 1 year low of $46.00 and a 1 year high of $73.69. The stock has a market capitalization of $9.46 billion, a P/E ratio of 30.06 and a beta of 1.11. The company’s 50-day moving average is $54.62 and its 200 day moving average is $59.56. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.35 and a quick ratio of 1.17.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Thursday, April 30th. The textile maker reported $0.43 EPS for the quarter, topping the consensus estimate of $0.36 by $0.07. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.14 billion. Gildan Activewear had a net margin of 6.10% and a return on equity of 21.38%. Gildan Activewear’s quarterly revenue was up 63.8% compared to the same quarter last year. During the same period last year, the business posted $0.59 earnings per share. On average, sell-side analysts expect that Gildan Activewear, Inc. will post 4.25 earnings per share for the current year.

About Gildan Activewear

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.