American Century Companies Inc. Has $7.62 Million Position in Gildan Activewear, Inc. $GIL

Key Points

• American Century Companies Inc. increased its stake in Gildan Activewear, acquiring a total of 172,305 shares worth approximately $7.62 million, representing a 5.1% rise in its position during the first quarter.
• Recent analyst reports indicate a consensus "Moderate Buy" rating for Gildan Activewear, with target prices ranging from $60.00 to $68.00 set by various institutions.
• Gildan Activewear reported a 6.5% year-over-year increase in revenue for the last quarter, achieving $918.50 million, and announced a quarterly dividend of $0.226 to be paid on September 15th.

American Century Companies Inc. boosted its stake in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 5.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 172,305 shares of the textile maker's stock after buying an additional 8,338 shares during the period. American Century Companies Inc. owned approximately 0.11% of Gildan Activewear worth $7,618,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Gildan Activewear during the first quarter worth $1,072,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in Gildan Activewear in the 1st quarter worth $474,000. PNC Financial Services Group Inc. increased its holdings in Gildan Activewear by 173.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,259 shares of the textile maker's stock worth $542,000 after purchasing an additional 7,778 shares in the last quarter. Aigen Investment Management LP raised its stake in shares of Gildan Activewear by 243.7% in the 1st quarter. Aigen Investment Management LP now owns 26,356 shares of the textile maker's stock valued at $1,165,000 after purchasing an additional 18,688 shares during the period. Finally, Polar Asset Management Partners Inc. lifted its holdings in shares of Gildan Activewear by 55.6% in the fourth quarter. Polar Asset Management Partners Inc. now owns 26,450 shares of the textile maker's stock valued at $1,244,000 after purchasing an additional 9,450 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GIL. UBS Group increased their price objective on Gildan Activewear from $56.00 to $70.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Gildan Activewear in a research report on Thursday, August 14th. Royal Bank Of Canada raised their price target on shares of Gildan Activewear from $61.00 to $68.00 and gave the stock an "outperform" rating in a research note on Thursday, August 14th. CIBC boosted their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an "outperformer" rating in a research report on Friday, August 1st. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Gildan Activewear in a research report on Thursday, August 14th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $64.58.

Gildan Activewear Stock Down 0.6%

Shares of NYSE GIL traded down $0.33 during trading hours on Friday, hitting $54.60. The company had a trading volume of 622,143 shares, compared to its average volume of 1,704,495. Gildan Activewear, Inc. has a 1-year low of $37.16 and a 1-year high of $57.76. The company has a quick ratio of 1.67, a current ratio of 3.87 and a debt-to-equity ratio of 1.37. The firm's 50 day moving average is $52.02 and its 200-day moving average is $48.66. The stock has a market capitalization of $8.15 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 1.76 and a beta of 1.17.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings results on Thursday, July 31st. The textile maker reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. The firm had revenue of $918.50 million for the quarter, compared to analyst estimates of $908.41 million. Gildan Activewear had a net margin of 14.55% and a return on equity of 34.31%. The company's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 earnings per share. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. On average, analysts expect that Gildan Activewear, Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 21st will be paid a $0.226 dividend. This represents a $0.90 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, August 21st. Gildan Activewear's dividend payout ratio (DPR) is 28.57%.

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.