11,679,294 Shares in Gildan Activewear, Inc. $GIL Purchased by Caisse de depot et placement du Quebec

Key Points

• Caisse de dépôt et placement du Québec acquired 11.68 million Gildan Activewear shares valued at approximately $601.9 million, giving it a 6.31% stake and making Gildan its 24th-largest portfolio holding.
• Institutional ownership reached 82.83%, with several major investors—including Jupiter Topco, Manulife, and Norges Bank—also establishing new positions.
• Gildan reported quarterly EPS of $1.28, exceeding estimates of $1.11, while revenue rose 72.3% year over year to $1.58 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $80, and the company announced a quarterly dividend of $0.249 per share.

Caisse de depot et placement du Quebec acquired a new position in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,679,294 shares of the textile maker's stock, valued at approximately $601,931,000. Gildan Activewear comprises about 0.9% of Caisse de depot et placement du Quebec's portfolio, making the stock its 24th biggest position. Caisse de depot et placement du Quebec owned approximately 6.31% of Gildan Activewear as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Jupiter Topco LLC acquired a new stake in Gildan Activewear in the second quarter worth about $573,363,000. The Manufacturers Life Insurance Company bought a new position in shares of Gildan Activewear in the 2nd quarter worth $234,764,000. Norges Bank acquired a new stake in shares of Gildan Activewear during the fourth quarter worth $151,018,000. Mackenzie Financial Corp grew its stake in shares of Gildan Activewear by 41.2% during the fourth quarter. Mackenzie Financial Corp now owns 6,860,108 shares of the textile maker's stock worth $429,382,000 after purchasing an additional 2,001,279 shares during the period. Finally, Brandes Investment Partners LP bought a new stake in Gildan Activewear in the fourth quarter valued at about $99,870,000. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Trading Down 0.6%

NYSE GIL opened at $54.60 on Wednesday. The stock has a market cap of $10.11 billion, a PE ratio of 105.00 and a beta of 1.11. Gildan Activewear, Inc. has a 12 month low of $46.55 and a 12 month high of $73.69. The company's 50-day moving average price is $53.74 and its 200-day moving average price is $58.39. The company has a current ratio of 1.93, a quick ratio of 1.01 and a debt-to-equity ratio of 1.15.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its quarterly earnings data on Thursday, July 30th. The textile maker reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.17. The company had revenue of $1.58 billion during 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%. The firm's revenue for the quarter was up 72.3% on a year-over-year basis. During the same quarter last year, the business posted $0.97 EPS. Equities research analysts forecast that Gildan Activewear, Inc. will post 4.67 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Thursday, August 20th will be paid a dividend of $0.249 per share. This represents a $1.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, August 20th. Gildan Activewear's payout ratio is 192.31%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GIL shares. Zacks Research upgraded Gildan Activewear from a "strong sell" rating to a "hold" rating in a report on Friday, May 1st. Scotiabank reissued a "sector outperform" rating and set a $67.00 price objective (up from $65.00) on shares of Gildan Activewear in a research note on Friday, July 31st. Canadian Imperial Bank of Commerce reissued an "outperform" rating and issued a $77.00 price target on shares of Gildan Activewear in a report on Friday, May 1st. Royal Bank Of Canada restated an "outperform" rating and set a $82.00 target price (up from $78.00) on shares of Gildan Activewear in a report on Friday, July 31st. Finally, UBS Group raised their target price on shares of Gildan Activewear from $110.00 to $111.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Gildan Activewear currently has an average rating of "Moderate Buy" and a consensus target price of $80.00.

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.

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