Legal & General Group Plc Trims Holdings in Gildan Activewear Inc. (NYSE:GIL)

Legal & General Group Plc trimmed its position in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 33.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 632,223 shares of the textile maker's stock after selling 319,594 shares during the quarter. Legal & General Group Plc owned approximately 0.41% of Gildan Activewear worth $29,738,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Forge First Asset Management Inc. increased its holdings in Gildan Activewear by 108.0% during the 4th quarter. Forge First Asset Management Inc. now owns 46,600 shares of the textile maker's stock worth $2,191,000 after acquiring an additional 24,200 shares during the period. 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 worth $57,403,000 after purchasing an additional 1,022,695 shares during the period. Truist Financial Corp boosted its stake in Gildan Activewear by 76.8% during the fourth quarter. Truist Financial Corp now owns 19,401 shares of the textile maker's stock valued at $913,000 after buying an additional 8,430 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Gildan Activewear by 80.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 245,926 shares of the textile maker's stock worth $11,568,000 after acquiring an additional 109,993 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Gildan Activewear by 776.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker's stock valued at $38,414,000 after acquiring an additional 723,962 shares during the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analyst Weigh In

Several brokerages have issued reports on GIL. CIBC lifted their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Stifel Nicolaus lifted their price target on Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Canaccord Genuity Group raised their price objective on Gildan Activewear from $53.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, February 20th. BMO Capital Markets lifted their price target on shares of Gildan Activewear from $58.00 to $64.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Finally, UBS Group upped their price objective on shares of Gildan Activewear from $60.00 to $69.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Nine equities research 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 price target of $60.00.

Gildan Activewear Trading Down 0.8 %

Shares of NYSE GIL traded down $0.33 during trading hours on Tuesday, hitting $41.21. The company's stock had a trading volume of 765,677 shares, compared to its average volume of 647,372. The business has a 50-day simple moving average of $47.36 and a 200-day simple moving average of $48.18. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of 16.48, a P/E/G ratio of 1.76 and a beta of 1.16. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22. Gildan Activewear Inc. has a 12 month low of $32.23 and a 12 month high of $55.39.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its quarterly earnings results 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 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 the consensus estimate of $805.75 million. During the same quarter last year, the firm earned $0.75 EPS. The business's revenue was up 5.0% on a year-over-year basis. On average, analysts anticipate 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 was paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th were given a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a yield of 2.19%. This is a boost from Gildan Activewear's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, March 12th. Gildan Activewear's payout ratio is presently 36.00%.

About Gildan Activewear

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.