Gildan Activewear Inc. (NYSE:GIL) Position Boosted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its position in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 7,709.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,181 shares of the textile maker's stock after acquiring an additional 123,578 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.08% of Gildan Activewear worth $5,899,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new position in Gildan Activewear in the third quarter valued at $29,000. Blue Trust Inc. lifted its stake in shares of Gildan Activewear by 96.1% during the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker's stock worth $38,000 after purchasing an additional 397 shares in the last quarter. Natixis acquired a new position in shares of Gildan Activewear during the first quarter worth about $51,000. Cullen Frost Bankers Inc. acquired a new position in shares of Gildan Activewear during the second quarter worth about $51,000. Finally, Tobam acquired a new position in shares of Gildan Activewear during the second quarter worth about $53,000. Institutional investors and hedge funds own 82.83% of the company's stock.

Wall Street Analysts Forecast Growth

GIL has been the topic of a number of recent research reports. TD Securities boosted their price objective on Gildan Activewear from $50.00 to $56.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. BMO Capital Markets boosted their price objective on Gildan Activewear from $43.00 to $47.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Stifel Nicolaus boosted their price objective on Gildan Activewear from $51.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada boosted their price objective on Gildan Activewear from $41.00 to $44.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $45.68.

Gildan Activewear Stock Up 0.6 %

Gildan Activewear stock traded up $0.27 during midday trading on Monday, hitting $48.34. The stock had a trading volume of 393,233 shares, compared to its average volume of 713,248. The company has a current ratio of 2.35, a quick ratio of 0.97 and a debt-to-equity ratio of 0.55. The stock has a market cap of $8.01 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.78 and a beta of 1.43. Gildan Activewear Inc. has a 12 month low of $27.61 and a 12 month high of $48.96. The business has a fifty day moving average price of $45.82 and a 200 day moving average price of $40.48.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.03. The firm had revenue of $862.20 million during the quarter, compared to analyst estimates of $851.10 million. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. Gildan Activewear's quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 earnings per share. Research analysts predict that Gildan Activewear Inc. will post 2.93 EPS for the current year.

Gildan Activewear Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Thursday, August 22nd. Gildan Activewear's dividend payout ratio (DPR) is presently 27.70%.

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.