Allspring Global Investments Holdings LLC Has $3.16 Million Position in Gildan Activewear Inc. (NYSE:GIL)

Allspring Global Investments Holdings LLC reduced its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 46.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,217 shares of the textile maker’s stock after selling 57,964 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Gildan Activewear were worth $3,159,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. lifted its holdings in Gildan Activewear by 96.1% in the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after buying an additional 397 shares during the period. Fifth Third Bancorp lifted its holdings in Gildan Activewear by 61.8% in the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock valued at $41,000 after buying an additional 333 shares during the period. CWM LLC increased its stake in Gildan Activewear by 23.0% in the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock valued at $80,000 after purchasing an additional 318 shares in the last quarter. R Squared Ltd bought a new stake in Gildan Activewear in the fourth quarter valued at approximately $165,000. Finally, Arkadios Wealth Advisors bought a new stake in Gildan Activewear in the third quarter valued at approximately $212,000. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Canaccord Genuity Group upped their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Stifel Nicolaus upped their target price on shares of Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday. BMO Capital Markets upped their target price on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday. Canaccord Genuity Group increased their price objective on shares of Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Citigroup increased their price objective on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Gildan Activewear presently has a consensus rating of “Buy” and a consensus target price of $60.00.

Gildan Activewear Stock Performance

Shares of GIL opened at $55.09 on Friday. Gildan Activewear Inc. has a 12 month low of $32.23 and a 12 month high of $55.12. The firm has a fifty day simple moving average of $49.47 and a 200 day simple moving average of $47.54. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.71 and a beta of 1.41. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.30). Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The business had revenue of $822.00 million for the quarter, compared to analyst estimates of $805.75 million. During the same quarter in the previous year, the company posted $0.75 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. Research analysts forecast that Gildan Activewear Inc. will post 2.97 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Wednesday, March 12th will be issued a dividend of $0.226 per share. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.90 annualized dividend and a yield of 1.64%. Gildan Activewear’s dividend payout ratio is presently 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.