Northwest & Ethical Investments L.P. Has $4.56 Million Position in Gildan Activewear, Inc. $GIL

Northwest & Ethical Investments L.P. raised its stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 11.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 92,792 shares of the textile maker’s stock after buying an additional 9,774 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Gildan Activewear were worth $4,561,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new stake in shares of Gildan Activewear during the 2nd quarter valued at $65,409,000. The Manufacturers Life Insurance Company raised its holdings in shares of Gildan Activewear by 67.2% during the first quarter. The Manufacturers Life Insurance Company now owns 2,959,555 shares of the textile maker’s stock worth $131,556,000 after acquiring an additional 1,189,921 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Gildan Activewear by 40.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,760,253 shares of the textile maker’s stock valued at $77,838,000 after purchasing an additional 503,359 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Gildan Activewear by 40.4% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,579,620 shares of the textile maker’s stock valued at $77,885,000 after purchasing an additional 454,327 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Gildan Activewear by 41.7% in the second quarter. Geode Capital Management LLC now owns 1,334,768 shares of the textile maker’s stock valued at $69,819,000 after purchasing an additional 392,514 shares in the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GIL shares. Scotiabank set a $66.00 price target on Gildan Activewear and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Gildan Activewear in a research report on Monday, November 17th. TD Cowen boosted their target price on shares of Gildan Activewear from $67.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Royal Bank Of Canada increased their price target on shares of Gildan Activewear from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Finally, Desjardins raised their price target on shares of Gildan Activewear from $80.00 to $95.00 and gave the company a “buy” rating in a report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.15.

Gildan Activewear Trading Up 0.4%

Gildan Activewear stock opened at $57.46 on Thursday. Gildan Activewear, Inc. has a 52 week low of $37.16 and a 52 week high of $62.56. 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 firm has a market capitalization of $8.57 billion, a PE ratio of 18.36, a PEG ratio of 1.93 and a beta of 1.22. The business’s 50-day simple moving average is $58.42 and its 200-day simple moving average is $53.69.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Wednesday, October 29th. The textile maker reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.02. The firm had revenue of $910.60 million during the quarter, compared to the consensus estimate of $925.24 million. Gildan Activewear had a return on equity of 35.90% and a net margin of 14.13%.The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 EPS. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. Equities research analysts forecast that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be paid a $0.226 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $0.90 annualized dividend and a dividend yield of 1.6%. Gildan Activewear’s dividend payout ratio (DPR) is presently 28.75%.

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.