Gildan Activewear Inc (NYSE:GIL) Shares Sold by Pembroke Management LTD

Pembroke Management LTD lowered its stake in shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 2.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 467,823 shares of the textile maker’s stock after selling 14,149 shares during the quarter. Gildan Activewear makes up approximately 2.5% of Pembroke Management LTD’s holdings, making the stock its 13th largest position. Pembroke Management LTD’s holdings in Gildan Activewear were worth $23,709,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Zions Bancorporation N.A. acquired a new position in Gildan Activewear during the 1st quarter valued at approximately $26,000. Beutel Goodman & Co Ltd. acquired a new position in Gildan Activewear during the 1st quarter valued at approximately $56,000. Scout Investments Inc. acquired a new position in Gildan Activewear during the 1st quarter valued at approximately $222,000. Quadrant Capital Group LLC boosted its position in Gildan Activewear by 50.0% during the 1st quarter. Quadrant Capital Group LLC now owns 6,174 shares of the textile maker’s stock valued at $218,000 after purchasing an additional 2,058 shares during the period. Finally, Qtron Investments LLC acquired a new position in Gildan Activewear during the 1st quarter valued at approximately $249,000. Institutional investors and hedge funds own 68.90% of the company’s stock.

Gildan Activewear stock traded down $0.54 during mid-day trading on Friday, hitting $38.65. 674,284 shares of the company’s stock traded hands, compared to its average volume of 362,458. The company has a 50 day moving average price of $39.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.74 and a current ratio of 4.92. The firm has a market cap of $8.02 billion, a P/E ratio of 20.78, a PEG ratio of 1.43 and a beta of 0.83. Gildan Activewear Inc has a one year low of $28.11 and a one year high of $40.40.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Thursday, August 1st. The textile maker reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.02. The firm had revenue of $801.60 million for the quarter, compared to the consensus estimate of $793.91 million. Gildan Activewear had a return on equity of 18.24% and a net margin of 10.59%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. Sell-side analysts forecast that Gildan Activewear Inc will post 1.97 earnings per share for the current year.

GIL has been the subject of a number of analyst reports. Zacks Investment Research upgraded Gildan Activewear from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Wednesday. TD Securities upgraded Gildan Activewear from a “hold” rating to a “buy” rating in a research report on Friday. Desjardins upgraded Gildan Activewear from a “hold” rating to a “buy” rating in a research report on Friday. Raymond James restated a “strong-buy” rating and set a $14.00 price objective on shares of Gildan Activewear in a research report on Thursday, May 2nd. Finally, Citigroup boosted their price objective on Gildan Activewear from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $34.66.

Gildan Activewear Company Profile

Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.

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Institutional Ownership by Quarter for Gildan Activewear (NYSE:GIL)

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