Cetera Investment Advisers Reduces Stake in Gildan Activewear Inc. (NYSE:GIL)

Cetera Investment Advisers lessened its stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 28.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,821 shares of the textile maker's stock after selling 9,709 shares during the period. Cetera Investment Advisers' holdings in Gildan Activewear were worth $1,168,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GIL. Plato Investment Management Ltd acquired a new stake in Gildan Activewear during the 4th quarter worth about $28,000. Fifth Third Bancorp boosted its position in shares of Gildan Activewear by 61.8% during the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker's stock valued at $41,000 after purchasing an additional 333 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Gildan Activewear by 500.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker's stock worth $42,000 after purchasing an additional 745 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Gildan Activewear by 899.0% in the fourth quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker's stock worth $47,000 after purchasing an additional 908 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Gildan Activewear by 561.9% in the fourth quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker's stock valued at $67,000 after buying an additional 1,208 shares during the period. Institutional investors and hedge funds own 82.83% of the company's stock.

Analyst Upgrades and Downgrades

GIL has been the subject of several recent analyst reports. Citigroup raised their price objective on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. BMO Capital Markets lifted their price target on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Stifel Nicolaus increased their price objective on shares of Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Barclays started coverage on Gildan Activewear in a research report on Monday, April 28th. They issued an "overweight" rating and a $51.00 target price for the company. Finally, TD Securities increased their price target on Gildan Activewear from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $58.20.

Gildan Activewear Stock Performance

Shares of Gildan Activewear stock traded down $0.21 during mid-day trading on Wednesday, hitting $49.57. 68,491 shares of the stock were exchanged, compared to its average volume of 686,838. Gildan Activewear Inc. has a 12 month low of $35.56 and a 12 month high of $55.39. The company has a 50-day simple moving average of $44.66 and a 200 day simple moving average of $47.83. The company has a market capitalization of $7.49 billion, a P/E ratio of 19.83, a P/E/G ratio of 1.76 and a beta of 1.21. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings results on Tuesday, April 29th. The textile maker reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. The business had revenue of $711.70 million for the quarter, compared to analyst estimates of $715.29 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. Gildan Activewear's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $0.59 earnings per share. Sell-side analysts anticipate that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.226 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.82%. Gildan Activewear's dividend payout ratio is presently 34.75%.

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.