Addison Advisors LLC Has $51,000 Stock Position in Gildan Activewear Inc. (NYSE:GIL)

Addison Advisors LLC reduced its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 17.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,530 shares of the textile maker’s stock after selling 318 shares during the quarter. Addison Advisors LLC’s holdings in Gildan Activewear were worth $51,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GIL. Galibier Capital Management Ltd. acquired a new position in shares of Gildan Activewear during the third quarter valued at about $26,255,000. Strs Ohio lifted its position in shares of Gildan Activewear by 981.8% during the third quarter. Strs Ohio now owns 108,202 shares of the textile maker’s stock valued at $3,046,000 after purchasing an additional 98,200 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Gildan Activewear by 0.8% during the third quarter. CIBC Asset Management Inc now owns 180,453 shares of the textile maker’s stock valued at $5,073,000 after purchasing an additional 1,512 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Gildan Activewear by 61.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 37,351 shares of the textile maker’s stock valued at $1,046,000 after purchasing an additional 14,251 shares in the last quarter. Finally, Byrne Asset Management LLC bought a new position in shares of Gildan Activewear during the third quarter valued at about $34,000. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on GIL shares. Royal Bank of Canada reissued an “outperform” rating and set a $41.00 price target on shares of Gildan Activewear in a research report on Monday, April 8th. Scotiabank raised their price target on shares of Gildan Activewear from $39.50 to $40.50 and gave the company a “sector outperform” rating in a research report on Friday, February 9th. Citigroup raised their price target on shares of Gildan Activewear from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. CIBC lifted their price objective on shares of Gildan Activewear from $38.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Finally, Stifel Nicolaus lifted their price objective on shares of Gildan Activewear from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, February 22nd. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Gildan Activewear has an average rating of “Moderate Buy” and a consensus target price of $41.25.

Gildan Activewear Stock Performance

Shares of GIL traded up $0.23 during trading hours on Friday, hitting $35.30. The company’s stock had a trading volume of 199,185 shares, compared to its average volume of 706,081. The company has a market cap of $5.95 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 1.34 and a beta of 1.38. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.33 and a quick ratio of 0.83. The business has a 50 day simple moving average of $35.57 and a two-hundred day simple moving average of $33.85. Gildan Activewear Inc. has a 52-week low of $26.98 and a 52-week high of $38.87.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Wednesday, February 21st. The textile maker reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. The firm had revenue of $782.70 million during the quarter, compared to the consensus estimate of $753.35 million. Gildan Activewear had a net margin of 16.70% and a return on equity of 23.19%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company earned $0.65 earnings per share. On average, equities analysts expect that Gildan Activewear Inc. will post 2.94 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Wednesday, March 13th were paid a $0.205 dividend. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.82 annualized dividend and a dividend yield of 2.32%. Gildan Activewear’s dividend payout ratio (DPR) is presently 27.06%.

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.