Seven Eight Capital LP Has $1.44 Million Stake in Gildan Activewear Inc. (NYSE:GIL)

Seven Eight Capital LP decreased its position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 57.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,857 shares of the textile maker’s stock after selling 52,087 shares during the period. Seven Eight Capital LP’s holdings in Gildan Activewear were worth $1,443,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Cooke & Bieler LP raised its position in shares of Gildan Activewear by 1.7% during the fourth quarter. Cooke & Bieler LP now owns 10,075,062 shares of the textile maker’s stock valued at $333,082,000 after buying an additional 169,476 shares during the last quarter. Browning West LP raised its position in shares of Gildan Activewear by 30.0% during the fourth quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock valued at $285,653,000 after buying an additional 1,994,900 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Gildan Activewear by 1.6% during the third quarter. Vanguard Group Inc. now owns 6,401,045 shares of the textile maker’s stock valued at $179,293,000 after buying an additional 97,924 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Gildan Activewear by 1.1% during the fourth quarter. Mackenzie Financial Corp now owns 2,712,021 shares of the textile maker’s stock valued at $89,732,000 after buying an additional 29,193 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Gildan Activewear during the fourth quarter valued at about $70,917,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Trading Down 0.7 %

Shares of GIL traded down $0.29 on Wednesday, reaching $38.91. 501,519 shares of the company’s stock were exchanged, compared to its average volume of 767,358. The business has a 50 day moving average price of $37.86 and a two-hundred day moving average price of $35.66. Gildan Activewear Inc. has a 12 month low of $26.99 and a 12 month high of $40.12. The stock has a market capitalization of $6.45 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 1.50 and a beta of 1.43. The company has a current ratio of 2.38, a quick ratio of 0.92 and a debt-to-equity ratio of 0.48.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Gildan Activewear had a return on equity of 24.00% and a net margin of 16.14%. The business had revenue of $695.80 million during the quarter, compared to the consensus estimate of $692.94 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The firm’s revenue was down 1.0% on a year-over-year basis. Research analysts anticipate that Gildan Activewear Inc. will post 2.92 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Thursday, May 23rd were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Wednesday, May 22nd. Gildan Activewear’s dividend payout ratio is currently 27.70%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Canaccord Genuity Group upped their price objective on shares of Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Stifel Nicolaus lowered their target price on shares of Gildan Activewear from $39.00 to $36.00 and set a “hold” rating on the stock in a research note on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $41.00 target price on shares of Gildan Activewear in a research note on Monday, April 8th. Finally, Canaccord Genuity Group upped their target price on shares of Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.95.

Gildan Activewear Company 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.