Allspring Global Investments Holdings LLC Sells 57,964 Shares of Gildan Activewear Inc. (NYSE:GIL)

Allspring Global Investments Holdings LLC lessened its stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 46.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Blue Trust Inc. grew its holdings in shares of Gildan Activewear by 96.1% in the 3rd 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 boosted its stake in shares of Gildan Activewear by 61.8% during the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker's stock worth $41,000 after buying an additional 333 shares during the last quarter. CWM LLC boosted its stake in shares of Gildan Activewear by 23.0% during the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker's stock worth $80,000 after buying an additional 318 shares during the last quarter. R Squared Ltd bought a new stake in shares of Gildan Activewear in the 4th quarter valued at about $165,000. Finally, Arkadios Wealth Advisors bought a new stake in shares of Gildan Activewear in the 3rd quarter valued at about $212,000. Institutional investors own 82.83% of the company's stock.

Analyst Upgrades and Downgrades

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

Gildan Activewear Stock Down 1.7 %

GIL stock traded down $0.91 during trading on Friday, reaching $54.18. The stock had a trading volume of 541,031 shares, compared to its average volume of 531,689. Gildan Activewear Inc. has a one year low of $32.23 and a one year high of $55.39. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81. The company's 50 day moving average is $49.47 and its two-hundred day moving average is $47.54. The company has a market capitalization of $8.24 billion, a price-to-earnings ratio of 21.67, a P/E/G ratio of 1.74 and a beta of 1.41.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share 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 27.49%. The company 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 earnings per share. The firm's revenue was up 5.0% on a year-over-year basis. Equities research analysts forecast that Gildan Activewear Inc. will post 3.44 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. Investors of record on Wednesday, March 12th will be paid a dividend of $0.226 per share. This is a boost 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 1.67%. The ex-dividend date of this dividend is Wednesday, March 12th. Gildan Activewear's dividend payout ratio is presently 32.80%.

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.