Hara Capital LLC Sells 1,785 Shares of Gildan Activewear Inc. (NYSE:GIL)

Hara Capital LLC cut its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 12.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,255 shares of the textile maker’s stock after selling 1,785 shares during the quarter. Hara Capital LLC’s holdings in Gildan Activewear were worth $577,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Riverview Trust Co bought a new position in Gildan Activewear during the third quarter valued at about $29,000. Blue Trust Inc. boosted its position in Gildan Activewear by 96.1% during the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock worth $38,000 after purchasing an additional 397 shares during the period. Natixis acquired a new position in Gildan Activewear during the first quarter valued at approximately $51,000. Cullen Frost Bankers Inc. bought a new position in shares of Gildan Activewear in the second quarter valued at approximately $51,000. Finally, Tobam bought a new position in shares of Gildan Activewear in the second quarter valued at approximately $53,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

Analysts Set New Price Targets

GIL has been the topic of several recent analyst reports. Stifel Nicolaus lifted their target price on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Citigroup lifted their price objective on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Canaccord Genuity Group increased their target price on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, November 1st. CIBC lifted their price target on Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada upped their price target on Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.85.

Gildan Activewear Price Performance

NYSE:GIL traded down $0.03 during mid-day trading on Thursday, hitting $49.44. The company’s stock had a trading volume of 91,811 shares, compared to its average volume of 708,649. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. The stock has a fifty day moving average of $46.76 and a 200-day moving average of $41.21. The company has a market capitalization of $7.76 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 1.84 and a beta of 1.44. Gildan Activewear Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $50.58.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The business had revenue of $891.10 million during the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. Gildan Activewear’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company earned $0.74 EPS. As a group, equities analysts forecast that Gildan Activewear Inc. will post 2.97 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be issued a $0.152 dividend. This represents a $0.61 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Thursday, November 21st. Gildan Activewear’s payout ratio is 32.41%.

Gildan Activewear 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.