State of Wyoming Acquires 5,738 Shares of Gildan Activewear Inc. (NYSE:GIL)

State of Wyoming grew its position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 45.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,229 shares of the textile maker’s stock after acquiring an additional 5,738 shares during the period. State of Wyoming’s holdings in Gildan Activewear were worth $858,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Forge First Asset Management Inc. grew its position in shares of Gildan Activewear by 108.0% in the 4th quarter. Forge First Asset Management Inc. now owns 46,600 shares of the textile maker’s stock valued at $2,191,000 after acquiring an additional 24,200 shares during the period. CIBC Asset Management Inc grew its position in shares of Gildan Activewear by 545.1% in the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock valued at $57,403,000 after acquiring an additional 1,022,695 shares during the period. Truist Financial Corp grew its position in shares of Gildan Activewear by 76.8% in the 4th quarter. Truist Financial Corp now owns 19,401 shares of the textile maker’s stock valued at $913,000 after acquiring an additional 8,430 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Gildan Activewear by 80.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 245,926 shares of the textile maker’s stock valued at $11,568,000 after acquiring an additional 109,993 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Gildan Activewear by 776.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker’s stock valued at $38,414,000 after acquiring an additional 723,962 shares during the period. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Trading Up 1.5%

GIL stock opened at $50.09 on Friday. The company has a market capitalization of $7.57 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 1.76 and a beta of 1.21. Gildan Activewear Inc. has a one year low of $35.33 and a one year high of $55.39. The company’s 50 day moving average price is $44.28 and its two-hundred day moving average price is $47.83. 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 (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Tuesday, April 29th. The textile maker reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $711.70 million for the quarter, compared to analysts’ expectations of $715.29 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 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 earnings per share. As a group, analysts predict that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Tuesday, May 20th will be given a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a yield of 1.80%. The ex-dividend date is Tuesday, May 20th. Gildan Activewear’s dividend payout ratio (DPR) is 34.75%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GIL shares. Barclays started coverage on shares of Gildan Activewear in a research note on Monday, April 28th. They set an “overweight” rating and a $51.00 target price for the company. TD Securities raised their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Canaccord Genuity Group raised their target price on shares of Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Citigroup raised their target price 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. Finally, UBS Group raised 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. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $58.20.

Gildan Activewear Company 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.