Segall Bryant & Hamill LLC Sells 583,409 Shares of Gildan Activewear Inc. (NYSE:GIL)

Segall Bryant & Hamill LLC cut its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 57.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 430,886 shares of the textile maker’s stock after selling 583,409 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.27% of Gildan Activewear worth $20,299,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Riverview Trust Co acquired a new stake in shares of Gildan Activewear in the third quarter valued at approximately $29,000. Blue Trust Inc. boosted its stake in shares of Gildan Activewear by 96.1% in the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after buying an additional 397 shares during the period. Natixis acquired a new position in Gildan Activewear in the first quarter valued at about $51,000. Cullen Frost Bankers Inc. bought a new stake in shares of Gildan Activewear during the 2nd quarter worth approximately $51,000. Finally, Tobam bought a new position in shares of Gildan Activewear in the 2nd quarter valued at $53,000. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Trading Up 0.2 %

NYSE:GIL opened at $49.01 on Thursday. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. The firm has a fifty day simple moving average of $47.49 and a two-hundred day simple moving average of $42.13. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 1.81 and a beta of 1.44. Gildan Activewear Inc. has a 12 month low of $30.68 and a 12 month high of $50.58.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.85. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The business had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. During the same period in the prior year, the business earned $0.74 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts expect that Gildan Activewear Inc. will post 2.97 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be paid a $0.152 dividend. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear’s dividend payout ratio (DPR) is 32.41%.

Analyst Ratings Changes

GIL has been the topic of a number of research reports. TD Securities boosted their price objective on Gildan Activewear from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets lifted their target price on Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus raised their price objective on Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. CIBC increased their target price on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Canaccord Genuity Group boosted their price target on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $50.85.

About Gildan Activewear

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.