Jones Financial Companies Lllp Buys 2,417 Shares of Gildan Activewear Inc. (NYSE:GIL)

Jones Financial Companies Lllp raised its position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 27.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,353 shares of the textile maker’s stock after acquiring an additional 2,417 shares during the quarter. Jones Financial Companies Lllp’s holdings in Gildan Activewear were worth $534,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GIL. Bank of New York Mellon Corp raised its holdings in shares of Gildan Activewear by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 272,520 shares of the textile maker’s stock valued at $12,822,000 after purchasing an additional 1,171 shares during the period. Davidson Investment Advisors raised its stake in Gildan Activewear by 1.3% in the 4th quarter. Davidson Investment Advisors now owns 437,314 shares of the textile maker’s stock valued at $20,576,000 after acquiring an additional 5,631 shares during the period. Venturi Wealth Management LLC boosted its position in Gildan Activewear by 899.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock worth $47,000 after purchasing an additional 908 shares during the period. Truist Financial Corp boosted its position in 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 purchasing an additional 8,430 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in shares of Gildan Activewear by 545.1% in 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 last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Wall Street Analyst Weigh In

GIL has been the subject of several research analyst reports. UBS Group lifted their target price on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. TD Securities boosted their price objective on Gildan Activewear from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Stifel Nicolaus increased their target price on Gildan Activewear from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. BMO Capital Markets lifted their price target on Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, CIBC upped their price objective on Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Gildan Activewear presently has an average rating of “Buy” and an average target price of $60.00.

Gildan Activewear Price Performance

Shares of NYSE GIL opened at $49.29 on Tuesday. The business has a fifty day moving average price of $50.71 and a two-hundred day moving average price of $48.54. The stock has a market capitalization of $7.50 billion, a PE ratio of 19.72, a P/E/G ratio of 1.76 and a beta of 1.39. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98. Gildan Activewear Inc. has a fifty-two week low of $32.23 and a fifty-two week high of $55.39.

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

Gildan Activewear Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Wednesday, March 12th will be paid a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.83%. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, March 12th. Gildan Activewear’s dividend payout ratio (DPR) is 36.00%.

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.