Cooke & Bieler LP Sells 1,969,145 Shares of Gildan Activewear, Inc. (NYSE:GIL)

Cooke & Bieler LP lessened its stake in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 21.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,400,676 shares of the textile maker's stock after selling 1,969,145 shares during the quarter. Gildan Activewear makes up 3.3% of Cooke & Bieler LP's holdings, making the stock its 2nd biggest position. Cooke & Bieler LP owned about 4.88% of Gildan Activewear worth $327,258,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Olde Wealth Management LLC bought a new position in shares of Gildan Activewear during the 1st quarter worth approximately $29,000. Versant Capital Management Inc increased its holdings in shares of Gildan Activewear by 510.7% in the first quarter. Versant Capital Management Inc now owns 745 shares of the textile maker's stock valued at $33,000 after purchasing an additional 623 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Gildan Activewear by 4,323.5% in the first quarter. GAMMA Investing LLC now owns 752 shares of the textile maker's stock valued at $33,000 after purchasing an additional 735 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in shares of Gildan Activewear by 500.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker's stock worth $42,000 after buying an additional 745 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Gildan Activewear by 69.3% during the 1st quarter. Blue Trust Inc. now owns 1,336 shares of the textile maker's stock worth $59,000 after buying an additional 547 shares during the last quarter. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Trading Down 1.4%

Shares of NYSE:GIL traded down $0.76 during midday trading on Friday, hitting $52.40. 415,776 shares of the stock were exchanged, compared to its average volume of 633,595. The business's 50-day moving average price is $48.97 and its 200 day moving average price is $47.95. Gildan Activewear, Inc. has a 12 month low of $37.16 and a 12 month high of $55.39. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.59 and a current ratio of 3.91. The stock has a market capitalization of $7.86 billion, a price-to-earnings ratio of 20.23, a P/E/G ratio of 1.71 and a beta of 1.19.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its earnings results on Tuesday, April 29th. The textile maker reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. The business had revenue of $711.70 million during the quarter, compared to the consensus estimate of $715.29 million. Gildan Activewear had a net margin of 12.38% and a return on equity of 30.61%. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. Analysts predict that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th were given a dividend of $0.226 per share. The ex-dividend date was Tuesday, May 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.73%. Gildan Activewear's dividend payout ratio (DPR) is currently 34.75%.

Analyst Ratings Changes

Several research analysts have weighed in on GIL shares. Barclays started coverage on shares of Gildan Activewear in a report on Monday, April 28th. They issued an "overweight" rating and a $51.00 price target on the stock. CIBC lowered their target price on Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Scotiabank upgraded Gildan Activewear to a "strong-buy" rating and set a $55.00 price target for the company in a research note on Wednesday, May 28th. Finally, TD Securities upped their price objective on Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Nine research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $57.91.

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.