11,494 Shares in Gildan Activewear Inc. (NYSE:GIL) Bought by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC acquired a new stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,494 shares of the textile maker’s stock, valued at approximately $380,000.

Other institutional investors also recently bought and sold shares of the company. Byrne Asset Management LLC bought a new stake in shares of Gildan Activewear during the 3rd quarter valued at about $34,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Gildan Activewear by 120.6% in the third quarter. EverSource Wealth Advisors LLC now owns 1,646 shares of the textile maker’s stock worth $46,000 after buying an additional 900 shares during the last quarter. Signaturefd LLC increased its holdings in Gildan Activewear by 39.3% during the third quarter. Signaturefd LLC now owns 4,104 shares of the textile maker’s stock valued at $115,000 after buying an additional 1,158 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Gildan Activewear by 60.4% in the third quarter. PNC Financial Services Group Inc. now owns 4,213 shares of the textile maker’s stock worth $118,000 after acquiring an additional 1,586 shares during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co purchased a new position in shares of Gildan Activewear during the 4th quarter worth $202,000. Institutional investors own 82.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on GIL shares. TD Securities upped their price objective on Gildan Activewear from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Citigroup upped their price target on Gildan Activewear from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Stifel Nicolaus raised their price objective on Gildan Activewear from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, February 22nd. CIBC boosted their price objective on Gildan Activewear from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Finally, UBS Group cut shares of Gildan Activewear from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $40.00 to $37.00 in a research note on Friday, January 5th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.25.

Gildan Activewear Price Performance

GIL stock opened at $34.89 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.83 and a current ratio of 2.33. The company’s fifty day moving average price is $35.48 and its 200-day moving average price is $33.69. Gildan Activewear Inc. has a one year low of $26.98 and a one year high of $38.87. The company has a market capitalization of $5.88 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 1.33 and a beta of 1.38.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Wednesday, February 21st. The textile maker reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. The business had revenue of $782.70 million for the quarter, compared to analysts’ expectations of $753.35 million. Gildan Activewear had a net margin of 16.70% and a return on equity of 23.19%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 EPS. On average, equities analysts anticipate that Gildan Activewear Inc. will post 2.94 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 8th. Shareholders of record on Wednesday, March 13th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Tuesday, March 12th. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.19. Gildan Activewear’s dividend payout ratio (DPR) is currently 27.06%.

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.