Truist Financial Corp Has $913,000 Position in Gildan Activewear Inc. (NYSE:GIL)

Truist Financial Corp increased its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 76.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,401 shares of the textile maker’s stock after acquiring an additional 8,430 shares during the period. Truist Financial Corp’s holdings in Gildan Activewear were worth $913,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Blue Trust Inc. raised its stake in shares of Gildan Activewear by 96.1% in the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock worth $38,000 after acquiring an additional 397 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Gildan Activewear by 61.8% in the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock worth $41,000 after acquiring an additional 333 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Gildan Activewear by 561.9% in the fourth quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker’s stock worth $67,000 after acquiring an additional 1,208 shares during the last quarter. R Squared Ltd bought a new position in shares of Gildan Activewear in the fourth quarter worth about $165,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Gildan Activewear in the third quarter worth about $216,000. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Gildan Activewear from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. CIBC boosted their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Citigroup boosted their price target on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. TD Securities boosted their price target on shares of Gildan Activewear from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, BMO Capital Markets boosted 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. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Gildan Activewear has an average rating of “Buy” and a consensus price target of $60.00.

Gildan Activewear Stock Up 0.5 %

Shares of NYSE:GIL opened at $54.05 on Friday. Gildan Activewear Inc. has a 52 week low of $32.23 and a 52 week high of $55.39. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22. The company has a market capitalization of $8.22 billion, a PE ratio of 21.62, a PEG ratio of 1.76 and a beta of 1.41. The company has a 50 day moving average price of $50.24 and a two-hundred day moving average price of $48.14.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its 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). The firm had revenue of $822.00 million during the quarter, compared to the consensus estimate of $805.75 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 EPS. Analysts forecast that Gildan Activewear Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Increases Dividend

The business 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 represents a $0.90 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Wednesday, March 12th. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.15. Gildan Activewear’s dividend payout ratio is 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.