EverSource Wealth Advisors LLC Has $115,000 Stake in Gildan Activewear Inc. (NYSE:GIL)

EverSource Wealth Advisors LLC increased its position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 185.3% during the fourth quarter, HoldingsChannel reports. The fund owned 2,454 shares of the textile maker’s stock after buying an additional 1,594 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Gildan Activewear were worth $115,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GIL. Plato Investment Management Ltd bought a new stake in shares of Gildan Activewear during the fourth quarter worth about $28,000. Fifth Third Bancorp boosted its position in Gildan Activewear by 61.8% during the 4th 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 period. Steward Partners Investment Advisory LLC boosted its position in Gildan Activewear by 500.0% during the 4th 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 grew its holdings in Gildan Activewear by 899.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock worth $47,000 after acquiring an additional 908 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Gildan Activewear by 561.9% in the 4th quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker’s stock valued at $67,000 after acquiring an additional 1,208 shares during the period. Institutional investors and hedge funds own 82.83% of the company’s stock.

Analyst Upgrades and Downgrades

GIL has been the topic of a number of recent research reports. CIBC lifted their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. UBS Group lifted their target price on Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Citigroup increased their price target on Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. BMO Capital Markets raised their price objective on Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, TD Securities upped their target price on Gildan Activewear from $62.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, Gildan Activewear has a consensus rating of “Buy” and an average price target of $60.00.

Gildan Activewear Price Performance

Shares of GIL opened at $46.80 on Tuesday. The firm has a market cap of $7.11 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 1.76 and a beta of 1.39. Gildan Activewear Inc. has a 52-week low of $32.23 and a 52-week high of $55.39. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22. The business’s 50 day moving average price is $50.72 and its two-hundred day moving average price is $48.64.

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

Gildan Activewear Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th will be paid a $0.226 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 annualized dividend and a dividend yield of 1.93%. Gildan Activewear’s dividend payout ratio (DPR) is currently 36.00%.

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.