Callan Family Office LLC purchased a new position in shares of Gildan Activewear, Inc. (NYSE:GIL – Free Report) (TSE:GIL) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 12,430 shares of the textile maker’s stock, valued at approximately $641,000.
Other hedge funds have also added to or reduced their stakes in the company. Caisse de depot et placement du Quebec boosted its holdings in shares of Gildan Activewear by 1,695.7% in the 4th quarter. Caisse de depot et placement du Quebec now owns 6,240,014 shares of the textile maker’s stock valued at $390,539,000 after purchasing an additional 5,892,514 shares in the last quarter. Norges Bank acquired a new position in shares of Gildan Activewear during the 4th quarter worth $151,018,000. Mackenzie Financial Corp raised its holdings in shares of Gildan Activewear by 41.2% during the 4th quarter. Mackenzie Financial Corp now owns 6,860,108 shares of the textile maker’s stock worth $429,382,000 after buying an additional 2,001,279 shares in the last quarter. Brandes Investment Partners LP bought a new stake in shares of Gildan Activewear during the 4th quarter worth $99,870,000. Finally, Vanguard Group Inc. lifted its position in shares of Gildan Activewear by 26.0% during the 4th quarter. Vanguard Group Inc. now owns 7,566,962 shares of the textile maker’s stock worth $472,964,000 after buying an additional 1,561,729 shares during the last quarter. 82.83% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
GIL has been the topic of a number of recent analyst reports. Scotiabank reiterated a “sector outperform” rating and issued a $67.00 target price (up from $65.00) on shares of Gildan Activewear in a research report on Friday, July 31st. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $77.00 target price on shares of Gildan Activewear in a report on Friday, May 1st. Weiss Ratings restated a “hold (c)” rating on shares of Gildan Activewear in a research note on Thursday, August 13th. UBS Group upped their price objective on shares of Gildan Activewear from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $82.00 target price (up from $78.00) on shares of Gildan Activewear in a research report on Friday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.00.
Gildan Activewear Price Performance
GIL stock opened at $54.60 on Wednesday. The company has a fifty day moving average price of $53.74 and a 200-day moving average price of $58.39. The company has a market capitalization of $10.11 billion, a P/E ratio of 105.00 and a beta of 1.11. Gildan Activewear, Inc. has a 52-week low of $46.55 and a 52-week high of $73.69. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.01 and a current ratio of 1.93.
Gildan Activewear (NYSE:GIL – Get Free Report) (TSE:GIL) last issued its quarterly earnings results on Thursday, July 30th. The textile maker reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.17. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.61 billion. Gildan Activewear had a net margin of 1.28% and a return on equity of 21.03%. Gildan Activewear’s revenue was up 72.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.97 earnings per share. As a group, equities analysts expect that Gildan Activewear, Inc. will post 4.67 EPS for the current year.
Gildan Activewear Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.249 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $1.00 annualized dividend and a yield of 1.8%. Gildan Activewear’s payout ratio is presently 192.31%.
Gildan Activewear 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.
Featured Stories
- Five stocks we like better than Gildan Activewear
- Pathward’s Credit Scare Tests Its Comeback Story
- Wiring the AI Boom: Rumble’s $13.7B Pivot
- StoneX: Too Far Too Fast?
- DICK’s Sporting Goods Faces Pain Now for a Bigger Prize
Want to see what other hedge funds are holding GIL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gildan Activewear, Inc. (NYSE:GIL – Free Report) (TSE:GIL).
Receive News & Ratings for Gildan Activewear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gildan Activewear and related companies with MarketBeat.com's FREE daily email newsletter.
