Zions Bancorporation N.A. Increases Stock Holdings in Gildan Activewear Inc. (NYSE:GIL)

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

Other institutional investors have also added to or reduced their stakes in the company. Plato Investment Management Ltd acquired a new position in shares of Gildan Activewear during the fourth quarter valued at about $28,000. Fifth Third Bancorp raised its holdings 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 buying an additional 333 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Gildan Activewear by 500.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker’s stock worth $42,000 after buying an additional 745 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Gildan Activewear by 899.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock worth $47,000 after buying an additional 908 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of Gildan Activewear by 561.9% during the fourth quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker’s stock valued at $67,000 after buying an additional 1,208 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Wall Street Analysts Forecast Growth

GIL has been the subject of a number of research analyst reports. UBS Group raised their target price on Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Citigroup upped their target price 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 raised their price target on shares of Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. BMO Capital Markets upped 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. Finally, Stifel Nicolaus raised their target price on shares of Gildan Activewear from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $60.00.

Gildan Activewear Stock Performance

GIL opened at $45.11 on Wednesday. The firm has a fifty day moving average price of $50.51 and a 200 day moving average price of $48.68. Gildan Activewear Inc. has a 1 year low of $32.23 and a 1 year high of $55.39. The stock has a market cap of $6.86 billion, a P/E ratio of 18.04, a P/E/G ratio of 1.76 and a beta of 1.39. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The firm had revenue of $822.00 million during the quarter, compared to analyst estimates of $805.75 million. During the same quarter last year, the company posted $0.75 EPS. The company’s revenue was up 5.0% on a year-over-year basis. Equities research analysts anticipate that Gildan Activewear Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th will be given a $0.226 dividend. The ex-dividend date is Wednesday, March 12th. 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%. Gildan Activewear’s 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.