Nuveen Asset Management LLC Reduces Holdings in Gildan Activewear Inc. (NYSE:GIL)

Nuveen Asset Management LLC reduced its position in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 4.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 136,608 shares of the textile maker's stock after selling 7,097 shares during the quarter. Nuveen Asset Management LLC owned 0.09% of Gildan Activewear worth $6,426,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Forge First Asset Management Inc. grew its stake 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 valued at $2,191,000 after buying an additional 24,200 shares during the last quarter. CIBC Asset Management Inc grew its position in 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 last quarter. Truist Financial Corp grew its holdings in shares of Gildan Activewear by 76.8% in the fourth quarter. Truist Financial Corp now owns 19,401 shares of the textile maker's stock worth $913,000 after purchasing an additional 8,430 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Gildan Activewear by 80.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 245,926 shares of the textile maker's stock worth $11,568,000 after purchasing an additional 109,993 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Gildan Activewear by 776.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker's stock worth $38,414,000 after purchasing an additional 723,962 shares during the period. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Price Performance

Shares of Gildan Activewear stock traded up $0.63 on Wednesday, reaching $47.21. The company's stock had a trading volume of 59,577 shares, compared to its average volume of 696,373. Gildan Activewear Inc. has a 52-week low of $36.91 and a 52-week high of $55.39. The company has a market capitalization of $7.14 billion, a P/E ratio of 18.89, a PEG ratio of 1.76 and a beta of 1.21. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92. The stock has a 50-day moving average price of $44.91 and a 200-day moving average price of $47.79.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings data on Tuesday, April 29th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The business had revenue of $711.70 million for the quarter, compared to the consensus estimate of $715.29 million. During the same period last year, the firm posted $0.59 earnings per share. The company's revenue was up 2.3% compared to the same quarter last year. Analysts expect that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th will be paid a dividend of $0.226 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.90 annualized dividend and a yield of 1.91%. Gildan Activewear's dividend payout ratio (DPR) is currently 34.75%.

Analyst Ratings Changes

Several equities analysts have recently commented on GIL shares. Scotiabank upgraded Gildan Activewear to a "strong-buy" rating and set a $55.00 price target on the stock in a research note on Wednesday, May 28th. Barclays began coverage on shares of Gildan Activewear in a research note on Monday, April 28th. They set an "overweight" rating and a $51.00 price objective on the stock. Stifel Nicolaus lifted their price objective on shares of Gildan Activewear from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Canaccord Genuity Group lifted their target price on Gildan Activewear from $53.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Finally, Citigroup boosted their target price on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Gildan Activewear has a consensus rating of "Buy" and a consensus price target of $57.91.

Gildan Activewear 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.