Virtu Financial LLC Sells 5,542 Shares of Gildan Activewear Inc. (NYSE:GIL)

Virtu Financial LLC cut its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 21.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,442 shares of the textile maker’s stock after selling 5,542 shares during the period. Virtu Financial LLC’s holdings in Gildan Activewear were worth $759,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. CWM LLC lifted its position 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 purchasing an additional 498 shares during the period. Natixis acquired a new position in Gildan Activewear during the 1st quarter valued at about $51,000. Tower Research Capital LLC TRC lifted its position in Gildan Activewear by 529.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,215 shares of the textile maker’s stock valued at $73,000 after purchasing an additional 1,863 shares during the period. UniSuper Management Pty Ltd lifted its position in Gildan Activewear by 69.2% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the textile maker’s stock valued at $82,000 after purchasing an additional 900 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in Gildan Activewear during the 1st quarter valued at about $84,000. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Price Performance

NYSE:GIL opened at $41.34 on Friday. Gildan Activewear Inc. has a 1-year low of $26.99 and a 1-year high of $42.00. The company has a current ratio of 2.38, a quick ratio of 0.92 and a debt-to-equity ratio of 0.48. The firm has a fifty day simple moving average of $38.55 and a 200 day simple moving average of $36.09. The stock has a market capitalization of $6.85 billion, a PE ratio of 13.97, a P/E/G ratio of 1.56 and a beta of 1.43.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Thursday, August 1st. The textile maker reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.03. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.62%. The business had revenue of $862.20 million during the quarter, compared to analysts’ expectations of $851.10 million. During the same period last year, the business earned $0.63 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. On average, research analysts expect that Gildan Activewear Inc. will post 2.95 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 22nd will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.82 dividend on an annualized basis and a yield of 1.98%. Gildan Activewear’s dividend payout ratio (DPR) is 27.70%.

Analysts Set New Price Targets

GIL has been the topic of a number of analyst reports. BMO Capital Markets increased their price target on shares of Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday. Canaccord Genuity Group increased their price target 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. Royal Bank of Canada increased their price target on shares of Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday. Stifel Nicolaus upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating and increased their price target for the company from $39.00 to $51.00 in a research report on Friday. Finally, Canaccord Genuity Group increased their price target 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. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

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.