Avior Wealth Management LLC Sells 2,100 Shares of Gildan Activewear Inc. (NYSE:GIL)

Avior Wealth Management LLC reduced its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 6.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,404 shares of the textile maker’s stock after selling 2,100 shares during the quarter. Avior Wealth Management LLC’s holdings in Gildan Activewear were worth $1,431,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Fortis Group Advisors LLC raised its stake in Gildan Activewear by 3.9% during the third quarter. Fortis Group Advisors LLC now owns 6,601 shares of the textile maker’s stock worth $311,000 after acquiring an additional 246 shares in the last quarter. Aristides Capital LLC grew its holdings in shares of Gildan Activewear by 4.3% during the 2nd quarter. Aristides Capital LLC now owns 7,617 shares of the textile maker’s stock valued at $289,000 after purchasing an additional 314 shares during the last quarter. CWM LLC increased its position in Gildan Activewear by 23.0% during the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after purchasing an additional 318 shares in the last quarter. Cooper Financial Group lifted its stake in Gildan Activewear by 2.1% in the 4th quarter. Cooper Financial Group now owns 16,268 shares of the textile maker’s stock valued at $765,000 after purchasing an additional 340 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in Gildan Activewear by 96.1% in the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 397 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. CIBC upped their price target on shares of Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Citigroup upped their target price on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Canaccord Genuity Group lifted their price target on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, November 1st. TD Securities upped their price objective on Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, BMO Capital Markets raised their price objective on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $53.35.

Gildan Activewear Stock Performance

Shares of GIL stock opened at $51.00 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. Gildan Activewear Inc. has a one year low of $32.14 and a one year high of $51.18. The business’s 50 day simple moving average is $48.39 and its 200 day simple moving average is $45.82. The stock has a market capitalization of $7.78 billion, a PE ratio of 20.16, a PEG ratio of 1.68 and a beta of 1.41.

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

Gildan Activewear Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.152 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a yield of 1.19%. Gildan Activewear’s payout ratio is currently 32.41%.

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.