Forge First Asset Management Inc. Has $22.54 Million Position in Gildan Activewear, Inc. $GIL

Forge First Asset Management Inc. lifted its position in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 20.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 458,300 shares of the textile maker’s stock after purchasing an additional 79,100 shares during the quarter. Gildan Activewear comprises approximately 8.2% of Forge First Asset Management Inc.’s portfolio, making the stock its 2nd largest holding. Forge First Asset Management Inc. owned approximately 0.31% of Gildan Activewear worth $22,537,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Cerity Partners LLC increased its stake in Gildan Activewear by 56.9% in the 1st quarter. Cerity Partners LLC now owns 19,750 shares of the textile maker’s stock worth $873,000 after acquiring an additional 7,164 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of Gildan Activewear by 37.5% in the first quarter. Allianz Asset Management GmbH now owns 28,479 shares of the textile maker’s stock worth $1,259,000 after purchasing an additional 7,763 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Gildan Activewear in the first quarter worth approximately $693,000. Homestead Advisers Corp raised its stake in Gildan Activewear by 15.2% in the first quarter. Homestead Advisers Corp now owns 118,300 shares of the textile maker’s stock valued at $5,231,000 after purchasing an additional 15,600 shares in the last quarter. Finally, Lincluden Management Ltd. lifted its position in Gildan Activewear by 4.6% during the first quarter. Lincluden Management Ltd. now owns 63,702 shares of the textile maker’s stock valued at $2,817,000 after purchasing an additional 2,829 shares during the last quarter. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Stock Performance

Gildan Activewear stock opened at $56.79 on Wednesday. The firm has a fifty day simple moving average of $58.17 and a two-hundred day simple moving average of $53.34. The company has a quick ratio of 1.67, a current ratio of 3.87 and a debt-to-equity ratio of 1.37. Gildan Activewear, Inc. has a twelve month low of $37.16 and a twelve month high of $62.56. The company has a market capitalization of $8.47 billion, a PE ratio of 18.14, a P/E/G ratio of 1.93 and a beta of 1.22.

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

Gildan Activewear Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently commented on GIL. TD Securities reissued a “buy” rating and issued a $74.00 price target on shares of Gildan Activewear in a report on Thursday, October 30th. Scotiabank set a $66.00 target price on Gildan Activewear and gave the company an “outperform” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Gildan Activewear in a research report on Monday. National Bankshares reiterated an “outperform” rating on shares of Gildan Activewear in a report on Thursday, October 23rd. Finally, Desjardins increased their price objective on Gildan Activewear from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Twelve analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.15.

About Gildan Activewear

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.