Wells Fargo & Company MN Acquires 18,231 Shares of Gildan Activewear Inc. (NYSE:GIL)

Wells Fargo & Company MN lifted its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 251,950 shares of the textile maker’s stock after purchasing an additional 18,231 shares during the quarter. Wells Fargo & Company MN owned 0.17% of Gildan Activewear worth $11,854,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of GIL. Forge First Asset Management Inc. raised its holdings in Gildan Activewear by 108.0% during the 4th quarter. Forge First Asset Management Inc. now owns 46,600 shares of the textile maker’s stock worth $2,191,000 after buying an additional 24,200 shares during the period. CIBC Asset Management Inc increased its position in shares of Gildan Activewear by 545.1% during the fourth quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock worth $57,403,000 after acquiring an additional 1,022,695 shares in the last quarter. Truist Financial Corp raised its holdings in shares of Gildan Activewear by 76.8% during the fourth quarter. Truist Financial Corp now owns 19,401 shares of the textile maker’s stock worth $913,000 after acquiring an additional 8,430 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Gildan Activewear by 80.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 245,926 shares of the textile maker’s stock valued at $11,568,000 after acquiring an additional 109,993 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Gildan Activewear by 776.4% in the 4th 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. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Trading Down 0.8 %

NYSE GIL opened at $41.21 on Wednesday. Gildan Activewear Inc. has a 12 month low of $32.23 and a 12 month high of $55.39. The company has a market cap of $6.24 billion, a PE ratio of 16.48, a PEG ratio of 1.76 and a beta of 1.16. The stock has a 50 day moving average of $47.36 and a 200-day moving average of $48.18. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). The company had revenue of $822.00 million for the quarter, compared to the consensus estimate of $805.75 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the firm earned $0.75 earnings per share. On average, equities research analysts anticipate that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Wednesday, March 12th were paid a $0.226 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 annualized dividend and a yield of 2.19%. Gildan Activewear’s payout ratio is 36.00%.

Analyst Ratings Changes

GIL has been the topic of several recent research reports. UBS Group lifted their price target on Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Citigroup lifted their target price on Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. CIBC boosted their target price on Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Stifel Nicolaus raised their price target on shares of Gildan Activewear from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Canaccord Genuity Group lifted their price objective on shares of Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $60.00.

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.