Gildan Activewear Inc. (NYSE:GIL) Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its holdings in Gildan Activewear Inc. (NYSE:GILFree Report) (TSE:GIL) by 312.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 81,694 shares of the textile maker’s stock after acquiring an additional 61,909 shares during the quarter. Allianz Asset Management GmbH’s holdings in Gildan Activewear were worth $2,718,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GIL. CWM LLC grew its stake in shares of Gildan Activewear by 86.5% in the 4th quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock worth $35,000 after purchasing an additional 498 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Gildan Activewear by 60.4% in the third quarter. PNC Financial Services Group Inc. now owns 4,213 shares of the textile maker’s stock worth $118,000 after buying an additional 1,586 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Gildan Activewear by 30.7% in the fourth quarter. Signaturefd LLC now owns 5,364 shares of the textile maker’s stock valued at $177,000 after buying an additional 1,260 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in shares of Gildan Activewear during the 4th quarter valued at $202,000. Finally, M&T Bank Corp bought a new stake in shares of Gildan Activewear during the 4th quarter worth $209,000. 82.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GIL has been the topic of a number of recent analyst reports. Canaccord Genuity Group boosted their target price on Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $41.00 target price on shares of Gildan Activewear in a report on Monday, April 8th. TD Securities boosted their price target on shares of Gildan Activewear from $42.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. CIBC raised their price objective on shares of Gildan Activewear from $38.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Finally, Scotiabank boosted their target price on shares of Gildan Activewear from $39.50 to $40.50 and gave the company a “sector outperform” rating in a research note on Friday, February 9th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.95.

Read Our Latest Research Report on GIL

Gildan Activewear Price Performance

Shares of NYSE:GIL opened at $38.37 on Friday. The firm has a market cap of $6.47 billion, a price-to-earnings ratio of 12.96, a P/E/G ratio of 1.45 and a beta of 1.43. Gildan Activewear Inc. has a 1 year low of $26.99 and a 1 year high of $38.87. The company has a current ratio of 2.38, a quick ratio of 0.92 and a debt-to-equity ratio of 0.48. The business has a fifty day simple moving average of $35.72 and a 200 day simple moving average of $34.75.

Gildan Activewear (NYSE:GILGet Free Report) (TSE:GIL) last posted its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The company had revenue of $695.80 million during the quarter, compared to the consensus estimate of $692.94 million. Gildan Activewear had a return on equity of 24.00% and a net margin of 16.14%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the business earned $0.45 EPS. As a group, sell-side analysts predict that Gildan Activewear Inc. will post 2.92 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 17th. Shareholders of record on Thursday, May 23rd will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, May 22nd. Gildan Activewear’s dividend payout ratio is 27.70%.

About Gildan Activewear

(Free Report)

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.

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Institutional Ownership by Quarter for Gildan Activewear (NYSE:GIL)

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