NewGen Asset Management Ltd Increases Stake in Gildan Activewear, Inc. $GIL

NewGen Asset Management Ltd raised its stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 7.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,598 shares of the textile maker’s stock after buying an additional 14,200 shares during the period. Gildan Activewear accounts for 4.4% of NewGen Asset Management Ltd’s holdings, making the stock its 6th largest holding. NewGen Asset Management Ltd owned approximately 0.11% of Gildan Activewear worth $11,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Washburn Capital Management Inc. increased its holdings in shares of Gildan Activewear by 3.8% during the fourth quarter. Washburn Capital Management Inc. now owns 4,257 shares of the textile maker’s stock worth $266,000 after buying an additional 157 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Gildan Activewear by 16.5% during the 1st quarter. Fifth Third Bancorp now owns 1,355 shares of the textile maker’s stock valued at $75,000 after acquiring an additional 192 shares in the last quarter. Arkadios Wealth Advisors grew its position in Gildan Activewear by 2.2% during the 4th quarter. Arkadios Wealth Advisors now owns 8,787 shares of the textile maker’s stock worth $549,000 after acquiring an additional 193 shares during the last quarter. Tacita Capital Inc grew its position in Gildan Activewear by 1.9% during the 4th quarter. Tacita Capital Inc now owns 11,250 shares of the textile maker’s stock worth $704,000 after acquiring an additional 211 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in Gildan Activewear by 2.1% in the 2nd quarter. Cetera Investment Advisers now owns 12,510 shares of the textile maker’s stock worth $616,000 after purchasing an additional 259 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Stock Up 0.9%

Shares of NYSE:GIL opened at $54.59 on Tuesday. The firm has a market cap of $10.11 billion, a P/E ratio of 32.11 and a beta of 1.11. Gildan Activewear, Inc. has a 12-month low of $46.00 and a 12-month high of $73.69. The business has a fifty day simple moving average of $55.32 and a 200 day simple moving average of $60.14. The company has a quick ratio of 1.17, a current ratio of 2.35 and a debt-to-equity ratio of 1.32.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Thursday, April 30th. The textile maker reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.14 billion. Gildan Activewear had a return on equity of 21.38% and a net margin of 6.10%.The business’s revenue was up 63.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 EPS. Gildan Activewear has set its FY 2026 guidance at 4.200-4.400 EPS. Analysts predict that Gildan Activewear, Inc. will post 4.25 earnings per share for the current year.

Gildan Activewear Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Wednesday, May 20th were issued a $0.249 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $1.00 annualized dividend and a yield of 1.8%. Gildan Activewear’s dividend payout ratio is presently 58.82%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GIL shares. Stifel Nicolaus set a $80.00 target price on Gildan Activewear and gave the company a “buy” rating in a research report on Monday. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Gildan Activewear in a research note on Wednesday, June 17th. Scotia dropped their price objective on shares of Gildan Activewear from $72.00 to $65.00 and set a “sector outperform” rating for the company in a report on Wednesday, June 17th. Weiss Ratings downgraded shares of Gildan Activewear from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Finally, Scotiabank reissued a “sector outperform” rating and set a $65.00 target price (down from $72.00) on shares of Gildan Activewear in a report on Wednesday, June 17th. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Gildan Activewear presently has an average rating of “Moderate Buy” and a consensus price target of $78.21.

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.