Steward Partners Investment Advisory LLC Buys 745 Shares of Gildan Activewear Inc. (NYSE:GIL)

Steward Partners Investment Advisory LLC boosted its stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 500.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 894 shares of the textile maker’s stock after purchasing an additional 745 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Gildan Activewear were worth $42,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Plato Investment Management Ltd purchased a new stake in Gildan Activewear in the fourth quarter valued at about $28,000. Fifth Third Bancorp raised its stake 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 last quarter. Venturi Wealth Management LLC raised its stake in Gildan Activewear by 899.0% in the fourth quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock valued at $47,000 after buying an additional 908 shares during the last quarter. Rhumbline Advisers raised its stake in Gildan Activewear by 561.9% in the fourth quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker’s stock valued at $67,000 after buying an additional 1,208 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Gildan Activewear by 80.1% in the fourth quarter. Blue Trust Inc. now owns 1,459 shares of the textile maker’s stock valued at $69,000 after buying an additional 649 shares during the last quarter. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Stock Down 1.0 %

Shares of GIL opened at $46.36 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. Gildan Activewear Inc. has a 12 month low of $32.23 and a 12 month high of $55.39. The stock’s 50 day moving average is $50.72 and its two-hundred day moving average is $48.64. The firm has a market cap of $7.05 billion, a P/E ratio of 18.54, a PEG ratio of 1.76 and a beta of 1.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.30). The business had revenue of $822.00 million during 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 firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 earnings per share. 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 declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th will be paid a $0.226 dividend. The ex-dividend date is Wednesday, March 12th. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.95%. Gildan Activewear’s payout ratio is currently 36.00%.

Analyst Upgrades and Downgrades

A number of research firms have commented on GIL. Citigroup increased their price target on Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Stifel Nicolaus raised their price objective 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 raised their price objective on Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. TD Securities raised their price objective on Gildan Activewear from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, CIBC raised their price objective on Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $60.00.

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.