Synovus Financial Corp Has $975,000 Stake in Gildan Activewear Inc. (NYSE:GIL)

Synovus Financial Corp reduced its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 49.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,721 shares of the textile maker’s stock after selling 20,077 shares during the period. Synovus Financial Corp’s holdings in Gildan Activewear were worth $975,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GIL. Raymond James Financial Inc. acquired a new stake in shares of Gildan Activewear in the fourth quarter valued at about $3,744,000. APG Asset Management N.V. acquired a new position in shares of Gildan Activewear during the 4th quarter worth approximately $4,102,000. FIL Ltd boosted its holdings in shares of Gildan Activewear by 1,884.2% in the 4th quarter. FIL Ltd now owns 201,137 shares of the textile maker’s stock valued at $9,466,000 after buying an additional 191,000 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Gildan Activewear by 5.7% in the fourth quarter. Bank of Montreal Can now owns 1,625,963 shares of the textile maker’s stock valued at $76,423,000 after buying an additional 87,672 shares in the last quarter. Finally, Aristides Capital LLC increased its holdings in Gildan Activewear by 31.7% during the fourth quarter. Aristides Capital LLC now owns 6,770 shares of the textile maker’s stock worth $319,000 after buying an additional 1,630 shares during the last quarter. 82.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GIL has been the subject of a number of recent analyst reports. Canaccord Genuity Group increased their price target on shares of Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. TD Securities lifted their price target on Gildan Activewear from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. BMO Capital Markets upped their price objective on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Stifel Nicolaus lifted their target price on Gildan Activewear from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, CIBC increased their price target on Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Gildan Activewear presently has a consensus rating of “Buy” and a consensus target price of $60.00.

Gildan Activewear Trading Down 1.2 %

Shares of Gildan Activewear stock opened at $40.72 on Thursday. Gildan Activewear Inc. has a 52-week low of $32.23 and a 52-week high of $55.39. The stock has a market cap of $6.17 billion, a PE ratio of 16.29, a PEG ratio of 1.76 and a beta of 1.16. The firm has a 50-day moving average of $47.15 and a 200-day moving average of $48.13. 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 announced its earnings results on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.30). The business had revenue of $822.00 million for the quarter, compared to the consensus estimate of $805.75 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 earnings per share. As a group, sell-side analysts forecast that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th were given a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.22%. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, March 12th. Gildan Activewear’s dividend payout ratio is presently 36.00%.

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.