Gildan Activewear Inc. (NYSE:GIL) Shares Acquired by Truist Financial Corp

Truist Financial Corp boosted its holdings in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 76.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,401 shares of the textile maker's stock after purchasing an additional 8,430 shares during the period. Truist Financial Corp's holdings in Gildan Activewear were worth $913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its position 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 valued at $57,403,000 after buying an additional 1,022,695 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Gildan Activewear during the third quarter worth approximately $24,262,000. Janus Henderson Group PLC raised its stake in Gildan Activewear by 3.6% in the 3rd quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker's stock valued at $322,298,000 after purchasing an additional 240,375 shares during the last quarter. Simcoe Capital Management LLC raised its stake in Gildan Activewear by 10.5% in the 3rd quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker's stock valued at $112,492,000 after purchasing an additional 226,695 shares during the last quarter. Finally, Natixis Advisors LLC grew its holdings in shares of Gildan Activewear by 59.0% during the third quarter. Natixis Advisors LLC now owns 523,035 shares of the textile maker's stock worth $24,640,000 after buying an additional 194,128 shares in the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Stock Down 1.2 %

Shares of GIL traded down $0.65 during mid-day trading on Monday, hitting $53.38. 165,454 shares of the company's stock were exchanged, compared to its average volume of 516,431. The stock's 50-day moving average is $50.24 and its 200-day moving average is $48.18. 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 fifty-two week low of $32.23 and a fifty-two week high of $55.39. The company has a market cap of $8.12 billion, a price-to-earnings ratio of 21.35, a P/E/G ratio of 1.76 and a beta of 1.41.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.83 EPS 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 business had revenue of $822.00 million during the quarter, compared to analysts' expectations of $805.75 million. During the same period in the prior year, the business earned $0.75 EPS. The business's quarterly revenue was up 5.0% on a year-over-year basis. On average, sell-side analysts anticipate that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be given a $0.226 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.90 dividend on an annualized basis and a yield of 1.69%. This is a positive change from Gildan Activewear's previous quarterly dividend of $0.15. Gildan Activewear's dividend payout ratio (DPR) is currently 36.00%.

Wall Street Analysts Forecast Growth

GIL has been the topic of several research reports. BMO Capital Markets raised 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. CIBC boosted their target price on Gildan Activewear from $56.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Stifel Nicolaus increased their price target on Gildan Activewear from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Canaccord Genuity Group boosted their price objective on Gildan Activewear from $53.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Finally, Citigroup lifted their price target on Gildan Activewear from $59.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus 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.