Zions Bancorporation N.A. Grows Stock Position in Gildan Activewear Inc. (NYSE:GIL)

Zions Bancorporation N.A. boosted its position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 88.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,474 shares of the textile maker’s stock after buying an additional 14,274 shares during the quarter. Zions Bancorporation N.A.’s holdings in Gildan Activewear were worth $1,434,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its stake in shares of Gildan Activewear by 3.6% during the 3rd quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker’s stock worth $322,298,000 after purchasing an additional 240,375 shares during the period. Simcoe Capital Management LLC boosted its position in shares of Gildan Activewear by 10.5% during the third quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock valued at $112,492,000 after buying an additional 226,695 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Gildan Activewear by 604.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker’s stock valued at $86,999,000 after buying an additional 1,588,071 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Gildan Activewear by 545.1% during 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 during the last quarter. Finally, Intact Investment Management Inc. raised its holdings in shares of Gildan Activewear by 7.1% in the fourth quarter. Intact Investment Management Inc. now owns 1,057,520 shares of the textile maker’s stock worth $49,763,000 after buying an additional 70,270 shares during the period. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Price Performance

NYSE GIL opened at $45.11 on Wednesday. The company has a market cap of $6.86 billion, a PE ratio of 18.04, a P/E/G ratio of 1.76 and a beta of 1.39. The firm’s 50 day moving average price is $50.51 and its 200-day moving average price is $48.68. 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 52-week low of $32.23 and a 52-week high of $55.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). The company had revenue of $822.00 million during the quarter, compared to analysts’ expectations of $805.75 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.75 earnings per share. Sell-side analysts forecast that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th will be issued a $0.226 dividend. 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 2.00%. The ex-dividend date is Wednesday, March 12th. Gildan Activewear’s dividend payout ratio (DPR) is currently 36.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GIL shares. Citigroup upped their price objective on Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Canaccord Genuity Group upped their price target on shares of Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. BMO Capital Markets lifted their price objective on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. UBS Group upped their target price on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Stifel Nicolaus lifted their price target on shares of Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus 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.