Comerica Bank Has $443,000 Holdings in Gildan Activewear Inc (GIL)
Comerica Bank grew its position in Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,140 shares of the textile maker’s stock after acquiring an additional 607 shares during the period. Comerica Bank’s holdings in Gildan Activewear were worth $443,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Gildan Activewear by 1.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,928 shares of the textile maker’s stock worth $1,242,000 after purchasing an additional 571 shares in the last quarter. Financial Architects Inc increased its stake in shares of Gildan Activewear by 6.4% during the fourth quarter. Financial Architects Inc now owns 10,260 shares of the textile maker’s stock worth $311,000 after purchasing an additional 615 shares in the last quarter. Enlightenment Research LLC purchased a new stake in shares of Gildan Activewear during the fourth quarter worth about $39,000. PNC Financial Services Group Inc. increased its stake in shares of Gildan Activewear by 45.4% during the third quarter. PNC Financial Services Group Inc. now owns 7,594 shares of the textile maker’s stock worth $230,000 after purchasing an additional 2,370 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Gildan Activewear by 7.8% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 46,543 shares of the textile maker’s stock worth $1,413,000 after purchasing an additional 3,370 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.
GIL has been the subject of a number of research reports. TheStreet raised shares of Gildan Activewear from a “c+” rating to a “b+” rating in a research note on Monday, December 17th. ValuEngine cut shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Saturday, January 5th. Desjardins cut shares of Gildan Activewear from a “buy” rating to a “hold” rating and set a $33.98 target price for the company. in a research note on Monday, February 4th. National Bank Financial reissued a “hold” rating on shares of Gildan Activewear in a research note on Friday, February 15th. Finally, TD Securities boosted their target price on shares of Gildan Activewear from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, February 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Gildan Activewear presently has a consensus rating of “Hold” and a consensus target price of $34.16.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Thursday, February 21st. The textile maker reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.01). Gildan Activewear had a net margin of 12.06% and a return on equity of 20.16%. The business had revenue of $743.00 million for the quarter, compared to analysts’ expectations of $718.48 million. During the same period in the prior year, the company posted $0.31 EPS. The firm’s revenue was up 13.6% on a year-over-year basis. As a group, equities analysts forecast that Gildan Activewear Inc will post 2.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Thursday, March 7th will be paid a dividend of $0.134 per share. This represents a $0.54 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Wednesday, March 6th. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.09. Gildan Activewear’s dividend payout ratio is currently 29.03%.
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Gildan Activewear Company Profile
Gildan Activewear Inc manufactures and sells a range of apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.
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