PNC Financial Services Group Inc. Sells 979 Shares of Gildan Activewear Inc. (NYSE:GIL)

PNC Financial Services Group Inc. trimmed its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 17.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,481 shares of the textile maker’s stock after selling 979 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Gildan Activewear were worth $211,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of GIL. Intech Investment Management LLC bought a new position in shares of Gildan Activewear in the third quarter valued at $544,000. Cerity Partners LLC lifted its stake in Gildan Activewear by 171.1% in the third quarter. Cerity Partners LLC now owns 17,720 shares of the textile maker’s stock valued at $835,000 after acquiring an additional 11,184 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Gildan Activewear in the 3rd quarter valued at about $462,000. DRW Securities LLC bought a new position in shares of Gildan Activewear in the 3rd quarter valued at about $1,663,000. Finally, Townsquare Capital LLC acquired a new position in shares of Gildan Activewear during the 3rd quarter worth about $253,000. 82.83% of the stock is currently owned by institutional investors.

Gildan Activewear Stock Performance

NYSE:GIL opened at $45.11 on Monday. The company has a market cap of $6.86 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.76 and a beta of 1.39. Gildan Activewear Inc. has a fifty-two week low of $32.23 and a fifty-two week high of $55.39. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22. The stock has a fifty day moving average price of $50.64 and a 200-day moving average price of $48.67.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The company had revenue of $822.00 million during the quarter, compared to analyst estimates of $805.75 million. During the same period last year, the firm earned $0.75 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities analysts anticipate that Gildan Activewear Inc. will post 3.48 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. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.226 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 annualized dividend and a yield of 2.00%. Gildan Activewear’s dividend payout ratio is presently 36.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GIL shares. TD Securities lifted their price target on Gildan Activewear from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. UBS Group lifted their target price on Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. BMO Capital Markets increased their price target on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. CIBC raised their price target on Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, Citigroup upped their price objective on shares of Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” 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.com, the stock currently has a consensus rating of “Buy” and an average price target 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.