Mackenzie Financial Corp Buys 424,809 Shares of Gildan Activewear, Inc. $GIL

Mackenzie Financial Corp raised its position in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 9.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,858,829 shares of the textile maker’s stock after acquiring an additional 424,809 shares during the period. Mackenzie Financial Corp owned approximately 3.26% of Gildan Activewear worth $280,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. JCIC Asset Management Inc. acquired a new position in shares of Gildan Activewear in the 3rd quarter valued at $6,920,000. Envestnet Asset Management Inc. increased its stake in Gildan Activewear by 9.2% during the third quarter. Envestnet Asset Management Inc. now owns 464,925 shares of the textile maker’s stock worth $26,873,000 after acquiring an additional 39,072 shares during the last quarter. Northwest & Ethical Investments L.P. lifted its holdings in shares of Gildan Activewear by 11.8% in the 2nd quarter. Northwest & Ethical Investments L.P. now owns 92,792 shares of the textile maker’s stock worth $4,561,000 after acquiring an additional 9,774 shares during the last quarter. Intact Investment Management Inc. boosted its holdings in Gildan Activewear by 1.7% during the 3rd quarter. Intact Investment Management Inc. now owns 1,153,759 shares of the textile maker’s stock valued at $66,661,000 after acquiring an additional 19,196 shares during the period. Finally, Oakcliff Capital Partners LP grew its stake in shares of Gildan Activewear by 11.4% in the second quarter. Oakcliff Capital Partners LP now owns 681,689 shares of the textile maker’s stock worth $33,566,000 after acquiring an additional 70,000 shares in the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GIL has been the subject of a number of research reports. Stifel Nicolaus boosted their price target on shares of Gildan Activewear from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. National Bank Financial lifted their target price on shares of Gildan Activewear from $92.00 to $97.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Scotiabank lifted their target price on shares of Gildan Activewear from $72.00 to $74.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 2nd. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $79.00 price objective on shares of Gildan Activewear in a report on Friday, February 20th. Finally, BMO Capital Markets increased their target price on Gildan Activewear from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $80.08.

Gildan Activewear Stock Performance

GIL opened at $62.19 on Wednesday. The business has a fifty day simple moving average of $66.90 and a 200-day simple moving average of $61.29. The firm has a market cap of $11.52 billion, a PE ratio of 23.74 and a beta of 1.05. Gildan Activewear, Inc. has a fifty-two week low of $37.16 and a fifty-two week high of $73.69. The company has a quick ratio of 1.05, a current ratio of 2.11 and a debt-to-equity ratio of 1.16.

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 the consensus estimate of $1.31 by ($0.35). Gildan Activewear had a return on equity of 27.32% and a net margin of 11.02%.The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the firm posted $0.83 earnings per share. The company’s revenue for the quarter was up 31.1% on a year-over-year basis. Gildan Activewear has set its FY 2026 guidance at 4.200-4.400 EPS. As a group, equities analysts predict that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, March 19th. This represents a $1.00 annualized dividend and a yield of 1.6%. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.23. Gildan Activewear’s dividend payout ratio (DPR) is presently 34.35%.

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.