Massachusetts Financial Services Co. MA Has $33.06 Million Position in Gildan Activewear, Inc. $GIL

Massachusetts Financial Services Co. MA lessened its stake in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 16.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 572,005 shares of the textile maker’s stock after selling 115,214 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Gildan Activewear were worth $33,062,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GIL. Sequoia Financial Advisors LLC bought a new position in Gildan Activewear in the 3rd quarter valued at about $212,000. Pembroke Management LTD grew its position in shares of Gildan Activewear by 17.9% in the third quarter. Pembroke Management LTD now owns 146,386 shares of the textile maker’s stock valued at $8,461,000 after purchasing an additional 22,268 shares during the last quarter. Wilmington Savings Fund Society FSB increased its stake in shares of Gildan Activewear by 11.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 11,706 shares of the textile maker’s stock worth $677,000 after purchasing an additional 1,240 shares during the period. Versant Capital Management Inc increased its stake in shares of Gildan Activewear by 82.3% during the third quarter. Versant Capital Management Inc now owns 2,850 shares of the textile maker’s stock worth $165,000 after purchasing an additional 1,287 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Gildan Activewear by 69.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 19,014 shares of the textile maker’s stock worth $1,099,000 after purchasing an additional 7,807 shares during the last quarter. Institutional investors own 82.83% of the company’s stock.

Analyst Ratings Changes

GIL has been the topic of several recent research reports. Royal Bank Of Canada increased their price objective on Gildan Activewear from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Desjardins upped their price target on shares of Gildan Activewear from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Barclays reaffirmed an “overweight” rating and set a $70.00 price target (up from $64.00) on shares of Gildan Activewear in a research report on Thursday, October 30th. Scotiabank set a $66.00 price objective on shares of Gildan Activewear and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Gildan Activewear in a research report on Monday, December 29th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Gildan Activewear currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.46.

Gildan Activewear Stock Up 1.2%

GIL stock opened at $67.07 on Friday. The company has a market cap of $12.42 billion, a PE ratio of 21.43 and a beta of 1.11. The business has a 50-day simple moving average of $60.94 and a 200 day simple moving average of $57.47. Gildan Activewear, Inc. has a 52 week low of $37.16 and a 52 week high of $67.96. The company has a quick ratio of 0.88, a current ratio of 2.01 and a debt-to-equity ratio of 0.94.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Wednesday, October 29th. The textile maker reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $910.60 million for the quarter, compared to the consensus estimate of $925.24 million. Gildan Activewear had a net margin of 14.13% and a return on equity of 35.53%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 earnings per share. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. Sell-side analysts anticipate that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Wednesday, November 19th were paid a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, November 19th. Gildan Activewear’s dividend payout ratio (DPR) is 28.75%.

Gildan Activewear Company Profile

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.