Seizert Capital Partners LLC Has $3.93 Million Stake in Gildan Activewear Inc. (NYSE:GIL)

Seizert Capital Partners LLC raised its position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 93.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 83,481 shares of the textile maker’s stock after buying an additional 40,271 shares during the quarter. Seizert Capital Partners LLC owned about 0.05% of Gildan Activewear worth $3,933,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cooke & Bieler LP lifted its stake in Gildan Activewear by 2.7% during the second quarter. Cooke & Bieler LP now owns 10,252,785 shares of the textile maker’s stock worth $388,786,000 after purchasing an additional 271,273 shares during the last quarter. Cardinal Capital Management Inc. raised its holdings in shares of Gildan Activewear by 1.5% during the 2nd quarter. Cardinal Capital Management Inc. now owns 2,907,144 shares of the textile maker’s stock worth $110,197,000 after buying an additional 42,094 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Gildan Activewear by 14.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker’s stock worth $97,290,000 after buying an additional 324,304 shares in the last quarter. EdgePoint Investment Group Inc. lifted its position in shares of Gildan Activewear by 28.0% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker’s stock worth $70,696,000 after buying an additional 407,113 shares during the last quarter. Finally, Anson Funds Management LP boosted its stake in Gildan Activewear by 13.8% in the first quarter. Anson Funds Management LP now owns 1,791,705 shares of the textile maker’s stock valued at $66,521,000 after buying an additional 216,705 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GIL shares. TD Securities raised their price target on shares of Gildan Activewear from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets raised their target price on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Stifel Nicolaus upped their price target on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Canaccord Genuity Group raised their price objective on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, CIBC boosted their price objective on Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.85.

Gildan Activewear Price Performance

Shares of NYSE GIL opened at $48.29 on Friday. The firm has a market capitalization of $7.44 billion, a P/E ratio of 19.09, a P/E/G ratio of 1.81 and a beta of 1.44. The firm’s 50-day moving average price is $47.31 and its 200-day moving average price is $41.81. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. Gildan Activewear Inc. has a 1-year low of $30.68 and a 1-year 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. Equities research analysts anticipate that Gildan Activewear Inc. will post 2.97 earnings per share 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. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear’s dividend payout ratio is currently 32.41%.

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.