Allspring Global Investments Holdings LLC Buys 21,675 Shares of Gildan Activewear Inc. (NYSE:GIL)

Allspring Global Investments Holdings LLC raised its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 18.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 138,429 shares of the textile maker’s stock after acquiring an additional 21,675 shares during the period. Allspring Global Investments Holdings LLC owned about 0.08% of Gildan Activewear worth $4,576,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in Gildan Activewear during the 4th quarter valued at about $55,337,000. BlackRock Inc. boosted its holdings in shares of Gildan Activewear by 115.5% in the 1st quarter. BlackRock Inc. now owns 2,602,095 shares of the textile maker’s stock worth $86,364,000 after acquiring an additional 1,394,775 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Gildan Activewear in the 4th quarter worth approximately $34,456,000. The Manufacturers Life Insurance Company grew its position in Gildan Activewear by 85.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,191,716 shares of the textile maker’s stock worth $82,339,000 after acquiring an additional 1,007,107 shares during the last quarter. Finally, Galibier Capital Management Ltd. acquired a new stake in Gildan Activewear during the 3rd quarter valued at $26,255,000. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GIL has been the topic of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $41.00 target price on shares of Gildan Activewear in a report on Monday, April 8th. Citigroup boosted their target price on shares of Gildan Activewear from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. TD Securities increased their price target on shares of Gildan Activewear from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Stifel Nicolaus boosted their price objective on shares of Gildan Activewear from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, February 22nd. Finally, CIBC increased their price objective on Gildan Activewear from $38.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Gildan Activewear presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.25.

Gildan Activewear Stock Up 0.2 %

Shares of Gildan Activewear stock opened at $35.21 on Friday. The business has a fifty day simple moving average of $35.48 and a 200 day simple moving average of $33.57. The stock has a market cap of $5.93 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 1.33 and a beta of 1.38. The company has a quick ratio of 0.83, a current ratio of 2.33 and a debt-to-equity ratio of 0.39. Gildan Activewear Inc. has a 12 month low of $26.98 and a 12 month high of $38.87.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Wednesday, February 21st. The textile maker reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The firm had revenue of $782.70 million for the quarter, compared to analysts’ expectations of $753.35 million. Gildan Activewear had a return on equity of 23.19% and a net margin of 16.70%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 earnings per share. Research analysts predict that Gildan Activewear Inc. will post 2.94 EPS for the current year.

Gildan Activewear Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 8th. Shareholders of record on Wednesday, March 13th were issued a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.19. This represents a $0.82 annualized dividend and a yield of 2.33%. Gildan Activewear’s dividend payout ratio (DPR) is 27.06%.

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.