M.D. Sass Investors Services Inc. Sells 334,415 Shares of Gildan Activewear Inc (NYSE:GIL)

M.D. Sass Investors Services Inc. trimmed its position in shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 42.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 455,933 shares of the textile maker’s stock after selling 334,415 shares during the quarter. Gildan Activewear makes up approximately 4.1% of M.D. Sass Investors Services Inc.’s investment portfolio, making the stock its 5th largest position. M.D. Sass Investors Services Inc. owned about 0.22% of Gildan Activewear worth $17,636,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC lifted its stake in Gildan Activewear by 19.3% in the 1st quarter. FMR LLC now owns 9,830,993 shares of the textile maker’s stock worth $353,485,000 after purchasing an additional 1,589,389 shares in the last quarter. Janus Henderson Group PLC lifted its position in Gildan Activewear by 0.4% during the second quarter. Janus Henderson Group PLC now owns 9,713,799 shares of the textile maker’s stock worth $375,748,000 after buying an additional 36,796 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Gildan Activewear by 89.6% during the first quarter. The Manufacturers Life Insurance Company now owns 2,823,941 shares of the textile maker’s stock worth $101,577,000 after buying an additional 1,334,579 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Gildan Activewear by 12.7% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,579,512 shares of the textile maker’s stock worth $56,810,000 after buying an additional 177,712 shares during the last quarter. Finally, Toronto Dominion Bank boosted its stake in Gildan Activewear by 20.7% during the first quarter. Toronto Dominion Bank now owns 1,295,118 shares of the textile maker’s stock worth $46,616,000 after buying an additional 222,430 shares during the last quarter. Hedge funds and other institutional investors own 67.05% of the company’s stock.

Shares of Gildan Activewear stock traded up $0.11 during trading hours on Wednesday, hitting $37.40. The company’s stock had a trading volume of 33,861 shares, compared to its average volume of 394,772. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 1.32 and a beta of 0.87. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.68 and a current ratio of 4.33. Gildan Activewear Inc has a twelve month low of $28.11 and a twelve month high of $40.40. The firm has a fifty day moving average of $37.38 and a 200-day moving average of $37.30.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. The firm had revenue of $801.60 million during the quarter, compared to the consensus estimate of $793.91 million. Gildan Activewear had a return on equity of 18.48% and a net margin of 10.14%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $0.52 EPS. On average, sell-side analysts expect that Gildan Activewear Inc will post 1.98 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Thursday, August 15th were paid a $0.236 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Wednesday, August 14th. Gildan Activewear’s dividend payout ratio (DPR) is 29.03%.

Several analysts have issued reports on the company. Zacks Investment Research upgraded Gildan Activewear from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a report on Friday, September 6th. ValuEngine lowered Gildan Activewear from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Desjardins raised shares of Gildan Activewear from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. TD Securities raised shares of Gildan Activewear from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Finally, Citigroup raised their price objective on shares of Gildan Activewear from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Gildan Activewear presently has a consensus rating of “Buy” and a consensus target price of $34.16.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. 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, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.

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

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