Gildan Activewear Inc. (GIL) Shares Sold by Cooke & Bieler LP
Cooke & Bieler LP reduced its stake in shares of Gildan Activewear Inc. (NYSE:GIL) by 15.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,930,171 shares of the company’s stock after selling 693,174 shares during the period. Gildan Activewear accounts for 2.6% of Cooke & Bieler LP’s investment portfolio, making the stock its 5th largest position. Cooke & Bieler LP owned 1.70% of Gildan Activewear worth $115,272,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the stock. NN Investment Partners Holdings N.V. bought a new stake in shares of Gildan Activewear during the first quarter valued at about $263,000. New England Research & Management Inc. bought a new stake in shares of Gildan Activewear during the second quarter valued at about $285,000. AXA raised its stake in shares of Gildan Activewear by 726.7% in the first quarter. AXA now owns 12,400 shares of the company’s stock valued at $380,000 after buying an additional 10,900 shares during the period. Sit Investment Associates Inc. bought a new stake in shares of Gildan Activewear during the second quarter valued at about $456,000. Finally, LMR Partners LLP bought a new stake in shares of Gildan Activewear during the second quarter valued at about $869,000. Institutional investors and hedge funds own 72.64% of the company’s stock.
Shares of Gildan Activewear Inc. (NYSE:GIL) traded down 0.66% during midday trading on Monday, reaching $26.93. 287,706 shares of the company traded hands. The company’s 50 day moving average is $28.35 and its 200-day moving average is $29.53. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of 18.74 and a beta of 0.99. Gildan Activewear Inc. has a 12 month low of $22.43 and a 12 month high of $32.20.
Gildan Activewear (NYSE:GIL) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.01. Gildan Activewear had a return on equity of 17.19% and a net margin of 13.94%. The firm had revenue of $689 million for the quarter, compared to analyst estimates of $697.92 million. During the same period in the prior year, the business earned $0.42 earnings per share. Gildan Activewear’s revenue for the quarter was down 3.5% on a year-over-year basis. Equities research analysts forecast that Gildan Activewear Inc. will post $1.53 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on the stock. Brean Capital restated a “hold” rating on shares of Gildan Activewear in a research report on Thursday, July 28th. Desjardins restated a “buy” rating and set a $43.00 price target on shares of Gildan Activewear in a research report on Thursday, July 28th. TD Securities restated a “buy” rating and set a $36.00 price target on shares of Gildan Activewear in a research report on Thursday, July 28th. Scotiabank restated an “outperform” rating and set a $44.00 price target on shares of Gildan Activewear in a research report on Thursday, July 28th. Finally, Zacks Investment Research upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Thursday, July 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $36.71.
About Gildan Activewear
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel. The Company’s segments include Printwear and Branded Apparel. It offers T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. It markets its products through approximately two main distribution channels.
Receive News & Stock Ratings for Gildan Activewear Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gildan Activewear Inc. and related stocks with our FREE daily email newsletter.