Addenda Capital Inc. Sells 2,406 Shares of Gildan Activewear, Inc. $GIL

Addenda Capital Inc. decreased its stake in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 211,797 shares of the textile maker’s stock after selling 2,406 shares during the period. Addenda Capital Inc.’s holdings in Gildan Activewear were worth $10,429,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Maseco LLP purchased a new stake in Gildan Activewear during the second quarter valued at $26,000. Olde Wealth Management LLC purchased a new position in shares of Gildan Activewear in the first quarter worth approximately $29,000. Twin Tree Management LP bought a new stake in Gildan Activewear during the first quarter valued at approximately $29,000. GAMMA Investing LLC increased its holdings in Gildan Activewear by 4,323.5% during the first quarter. GAMMA Investing LLC now owns 752 shares of the textile maker’s stock valued at $33,000 after buying an additional 735 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Gildan Activewear by 510.7% during the 1st quarter. Versant Capital Management Inc now owns 745 shares of the textile maker’s stock worth $33,000 after acquiring an additional 623 shares during the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on GIL shares. Barclays raised their target price on Gildan Activewear from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Cfra Research upgraded Gildan Activewear to a “hold” rating in a research note on Monday, August 4th. Citigroup set a $60.00 target price on shares of Gildan Activewear and gave the stock a “buy” rating in a report on Thursday, August 14th. Wall Street Zen cut shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Saturday, September 6th. Finally, Stifel Nicolaus set a $75.00 price target on shares of Gildan Activewear and gave the stock a “buy” rating in a research note on Friday, September 19th. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $64.58.

Gildan Activewear Stock Performance

NYSE:GIL opened at $57.62 on Friday. Gildan Activewear, Inc. has a fifty-two week low of $37.16 and a fifty-two week high of $57.80. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.67 and a current ratio of 3.87. The stock’s fifty day moving average is $54.07 and its 200 day moving average is $49.11. The firm has a market capitalization of $8.59 billion, a PE ratio of 18.29, a PEG ratio of 1.85 and a beta of 1.17.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Thursday, July 31st. The textile maker reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Gildan Activewear had a net margin of 14.55% and a return on equity of 34.31%. The company had revenue of $918.50 million for the quarter, compared to analyst estimates of $908.41 million. During the same period in the prior year, the company posted $0.74 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. On average, sell-side analysts anticipate that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, August 21st were paid a $0.226 dividend. The ex-dividend date was Thursday, August 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.6%. Gildan Activewear’s dividend payout ratio (DPR) is presently 28.57%.

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.