Hsbc Holdings PLC Decreases Stock Position in Gildan Activewear Inc. (NYSE:GIL)

Hsbc Holdings PLC trimmed its stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 41.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,435 shares of the textile maker's stock after selling 16,785 shares during the quarter. Hsbc Holdings PLC's holdings in Gildan Activewear were worth $1,102,000 at the end of the most recent quarter.

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

Gildan Activewear Stock Performance

Shares of GIL stock traded down $0.18 during trading hours on Wednesday, reaching $46.76. 559,549 shares of the company traded hands, compared to its average volume of 656,735. The firm has a 50-day moving average price of $44.65 and a 200 day moving average price of $47.80. The company has a market cap of $7.09 billion, a P/E ratio of 18.70, a P/E/G ratio of 1.76 and a beta of 1.21. Gildan Activewear Inc. has a 12-month low of $32.32 and a 12-month high of $55.39. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98.

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

Gildan Activewear Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Tuesday, May 20th will be given a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Tuesday, May 20th. Gildan Activewear's dividend payout ratio is currently 34.75%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GIL shares. TD Securities upped their price target on Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Citigroup raised their price target on shares of Gildan Activewear from $59.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, February 20th. UBS Group increased 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 boosted their target price 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. Finally, Barclays assumed coverage on Gildan Activewear in a research note on Monday, April 28th. They issued an "overweight" rating and a $51.00 price target on the stock. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Gildan Activewear has a consensus rating of "Buy" and an average target price of $58.20.

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.