Gildan Activewear Inc. (NYSE:GIL) Shares Purchased by Venturi Wealth Management LLC

Venturi Wealth Management LLC lifted its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 899.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,009 shares of the textile maker’s stock after acquiring an additional 908 shares during the period. Venturi Wealth Management LLC’s holdings in Gildan Activewear were worth $47,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GIL. Truist Financial Corp raised its holdings in shares of Gildan Activewear by 76.8% during the 4th quarter. Truist Financial Corp now owns 19,401 shares of the textile maker’s stock valued at $913,000 after buying an additional 8,430 shares during the period. CIBC Asset Management Inc raised its stake 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 valued at $57,403,000 after purchasing an additional 1,022,695 shares during the period. Principal Securities Inc. lifted its position in shares of Gildan Activewear by 10.4% during the fourth quarter. Principal Securities Inc. now owns 11,007 shares of the textile maker’s stock worth $518,000 after purchasing an additional 1,033 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Gildan Activewear by 561.9% during the fourth quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker’s stock worth $67,000 after purchasing an additional 1,208 shares in the last quarter. Finally, Louisbourg Investments Inc. boosted its stake in shares of Gildan Activewear by 30.2% in the fourth quarter. Louisbourg Investments Inc. now owns 234,146 shares of the textile maker’s stock valued at $11,014,000 after purchasing an additional 54,287 shares during the period. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Gildan Activewear Stock Performance

GIL stock opened at $54.46 on Wednesday. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92. The firm has a market cap of $8.28 billion, a P/E ratio of 21.78, a P/E/G ratio of 1.76 and a beta of 1.41. Gildan Activewear Inc. has a 12-month low of $32.23 and a 12-month high of $55.39. The stock’s 50 day simple moving average is $49.68 and its 200 day simple moving average is $47.83.

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

Gildan Activewear Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th will be issued a $0.226 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 annualized dividend and a dividend yield of 1.66%. Gildan Activewear’s payout ratio is 36.00%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GIL shares. Citigroup boosted their price objective on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Canaccord Genuity Group boosted their price target on Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. CIBC raised their price objective 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 lifted their price objective on Gildan Activewear from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, TD Securities increased their target price on Gildan Activewear from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $60.00.

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.