Picton Mahoney Asset Management Cuts Stock Holdings in Gildan Activewear, Inc. $GIL

Picton Mahoney Asset Management lessened its stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 21.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,043,362 shares of the textile maker’s stock after selling 289,433 shares during the quarter. Gildan Activewear comprises approximately 0.5% of Picton Mahoney Asset Management’s holdings, making the stock its 29th biggest holding. Picton Mahoney Asset Management owned approximately 0.70% of Gildan Activewear worth $60,264,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GIL. Norges Bank acquired a new position in Gildan Activewear in the second quarter valued at $101,409,000. Mackenzie Financial Corp raised its holdings in shares of Gildan Activewear by 61.9% in the 2nd quarter. Mackenzie Financial Corp now owns 4,434,020 shares of the textile maker’s stock worth $218,622,000 after purchasing an additional 1,695,329 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Gildan Activewear by 24.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,678,451 shares of the textile maker’s stock worth $180,305,000 after purchasing an additional 718,896 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Gildan Activewear by 40.0% in the 1st 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 in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Gildan Activewear during the 2nd quarter worth about $24,591,000. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Price Performance

GIL opened at $66.87 on Wednesday. Gildan Activewear, Inc. has a twelve month low of $37.16 and a twelve month high of $73.69. The firm has a market cap of $12.38 billion, a price-to-earnings ratio of 25.52 and a beta of 1.05. The company has a current ratio of 2.11, a quick ratio of 1.05 and a debt-to-equity ratio of 1.16. The company has a fifty day simple moving average of $66.82 and a 200 day simple moving average of $61.00.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Thursday, February 26th. The textile maker reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.35). Gildan Activewear had a net margin of 11.02% and a return on equity of 27.32%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the company earned $0.83 earnings per share. The business’s quarterly revenue was up 31.1% on a year-over-year basis. Gildan Activewear has set its FY 2026 guidance at 4.200-4.400 EPS. Equities research analysts expect that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Thursday, March 19th will be given a $0.249 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Thursday, March 19th. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.23. Gildan Activewear’s dividend payout ratio is currently 34.35%.

Analyst Upgrades and Downgrades

GIL has been the topic of several research reports. National Bank Financial raised their price target on shares of Gildan Activewear from $92.00 to $97.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Royal Bank Of Canada decreased their price objective on shares of Gildan Activewear from $79.00 to $78.00 and set an “outperform” rating for the company in a research note on Monday. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $79.00 target price on shares of Gildan Activewear in a research note on Friday, February 20th. BMO Capital Markets lifted their target price on shares of Gildan Activewear from $70.00 to $78.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Finally, Stifel Nicolaus increased their price target on Gildan Activewear from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Thirteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $80.08.

About Gildan Activewear

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.