Addison Advisors LLC Sells 318 Shares of Gildan Activewear Inc. (NYSE:GIL)

Addison Advisors LLC decreased its position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 17.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,530 shares of the textile maker’s stock after selling 318 shares during the period. Addison Advisors LLC’s holdings in Gildan Activewear were worth $51,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GIL. Natixis Advisors L.P. grew its holdings in Gildan Activewear by 2.5% during the 3rd quarter. Natixis Advisors L.P. now owns 13,204 shares of the textile maker’s stock valued at $370,000 after buying an additional 324 shares in the last quarter. CWM LLC grew its holdings in Gildan Activewear by 86.5% during the 4th quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock valued at $35,000 after buying an additional 498 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Gildan Activewear by 120.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,646 shares of the textile maker’s stock valued at $46,000 after buying an additional 900 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Gildan Activewear by 5.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 21,820 shares of the textile maker’s stock valued at $611,000 after buying an additional 1,055 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in Gildan Activewear by 39.3% during the 3rd quarter. Signaturefd LLC now owns 4,104 shares of the textile maker’s stock valued at $115,000 after buying an additional 1,158 shares in the last quarter. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Trading Up 0.7 %

Shares of NYSE:GIL traded up $0.23 on Friday, hitting $35.30. 199,185 shares of the company’s stock were exchanged, compared to its average volume of 706,081. Gildan Activewear Inc. has a 12 month low of $26.98 and a 12 month high of $38.87. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 1.34 and a beta of 1.38. The business’s 50 day simple moving average is $35.57 and its two-hundred day simple moving average is $33.85. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.33 and a quick ratio of 0.83.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Wednesday, February 21st. The textile maker reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. Gildan Activewear had a return on equity of 23.19% and a net margin of 16.70%. The business had revenue of $782.70 million during the quarter, compared to the consensus estimate of $753.35 million. During the same period last year, the company earned $0.65 earnings per share. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. Analysts anticipate that Gildan Activewear Inc. will post 2.94 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Wednesday, March 13th were issued a $0.205 dividend. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.19. This represents a $0.82 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Tuesday, March 12th. Gildan Activewear’s payout ratio is presently 27.06%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GIL shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $41.00 price objective on shares of Gildan Activewear in a report on Monday, April 8th. Scotiabank increased their price objective on shares of Gildan Activewear from $39.50 to $40.50 and gave the company a “sector outperform” rating in a report on Friday, February 9th. CIBC raised their target price on shares of Gildan Activewear from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. TD Securities raised their target price on shares of Gildan Activewear from $42.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, UBS Group lowered shares of Gildan Activewear from a “buy” rating to a “neutral” rating and cut their target price for the company from $40.00 to $37.00 in a report on Friday, January 5th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.25.

Gildan Activewear Profile

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.