Allspring Global Investments Holdings LLC Decreases Stake in Gildan Activewear, Inc. (NYSE:GIL)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 44.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,423 shares of the textile maker's stock after selling 29,794 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Gildan Activewear were worth $1,655,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Gildan Activewear in the 1st quarter valued at about $1,072,000. Forge First Asset Management Inc. boosted its holdings in shares of Gildan Activewear by 108.0% during the fourth quarter. Forge First Asset Management Inc. now owns 46,600 shares of the textile maker's stock worth $2,191,000 after acquiring an additional 24,200 shares during the period. Polar Asset Management Partners Inc. boosted its holdings in shares of Gildan Activewear by 55.6% during the fourth quarter. Polar Asset Management Partners Inc. now owns 26,450 shares of the textile maker's stock worth $1,244,000 after acquiring an additional 9,450 shares during the period. Shell Asset Management Co. boosted its holdings in shares of Gildan Activewear by 250.0% during the fourth quarter. Shell Asset Management Co. now owns 27,721 shares of the textile maker's stock worth $1,304,000 after acquiring an additional 19,800 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in shares of Gildan Activewear by 262.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 45,451 shares of the textile maker's stock valued at $2,138,000 after buying an additional 32,911 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company's stock.

Gildan Activewear Trading Down 0.5%

NYSE GIL traded down $0.24 on Tuesday, reaching $50.64. The company had a trading volume of 516,904 shares, compared to its average volume of 664,453. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.91 and a quick ratio of 1.59. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 1.63 and a beta of 1.19. The business has a 50 day moving average of $48.11 and a two-hundred day moving average of $47.69. Gildan Activewear, Inc. has a fifty-two week low of $37.16 and a fifty-two week high of $55.39.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings results on Tuesday, April 29th. The textile maker reported $0.59 EPS for the quarter, beating analysts' consensus estimates 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 12.38% and a return on equity of 30.61%. The business's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 earnings per share. Analysts forecast that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Tuesday, May 20th were issued a $0.226 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.79%. Gildan Activewear's dividend payout ratio is presently 34.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GIL shares. TD Securities lifted their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Barclays started coverage on shares of Gildan Activewear in a report on Monday, April 28th. They set an "overweight" rating and a $51.00 price target for the company. CIBC lowered their price target on shares of Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Scotiabank upgraded shares of Gildan Activewear to a "strong-buy" rating and set a $55.00 price target for the company in a report on Wednesday, May 28th. Nine research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $57.91.

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.