Louisbourg Investments Inc. Sells 71,454 Shares of Gildan Activewear, Inc. (NYSE:GIL)

Louisbourg Investments Inc. lessened its holdings in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 30.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 162,692 shares of the textile maker's stock after selling 71,454 shares during the period. Gildan Activewear makes up 1.8% of Louisbourg Investments Inc.'s portfolio, making the stock its 11th biggest position. Louisbourg Investments Inc. owned about 0.11% of Gildan Activewear worth $7,200,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in GIL. Norges Bank bought a new stake in Gildan Activewear during the fourth quarter worth about $97,275,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Gildan Activewear by 604.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker's stock valued at $86,999,000 after buying an additional 1,588,071 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Gildan Activewear by 276.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker's stock worth $83,394,000 after purchasing an additional 1,300,121 shares during the period. CIBC Asset Management Inc raised its holdings in Gildan Activewear by 545.1% in the fourth quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker's stock worth $57,403,000 after purchasing an additional 1,022,695 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Gildan Activewear by 776.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker's stock worth $38,414,000 after purchasing an additional 723,962 shares during the period. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Trading Down 0.1%

GIL traded down $0.05 during trading on Wednesday, reaching $47.17. 237,685 shares of the company's stock were exchanged, compared to its average volume of 631,919. Gildan Activewear, Inc. has a one year low of $36.91 and a one year high of $55.39. The company has a current ratio of 3.91, a quick ratio of 1.59 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $7.10 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 1.52 and a beta of 1.20. The firm has a fifty day moving average price of $46.11 and a two-hundred day moving average price of $47.67.

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

Gildan Activewear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th were paid a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Tuesday, May 20th. Gildan Activewear's dividend payout ratio is currently 34.75%.

Analyst Upgrades and Downgrades

GIL has been the topic of a number of research analyst reports. TD Securities raised their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. UBS Group lifted their price objective on shares of Gildan Activewear from $60.00 to $69.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. BMO Capital Markets lifted their target price on shares of Gildan Activewear from $58.00 to $64.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Stifel Nicolaus lifted their target price on shares of Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Finally, CIBC dropped their price objective on shares of Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating for the company in a research note 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 MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $57.91.

Gildan Activewear Company 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.