Azzad Asset Management Inc. ADV Purchases 25,340 Shares of Gildan Activewear, Inc. $GIL

Key Points

• Azzad Asset Management increased its stake in Gildan Activewear by 40% in the first quarter, buying 25,340 additional shares and bringing its total holdings to 88,628 shares worth about $4.93 million.
• Institutional interest in Gildan remains high, with 82.83% of the stock owned by institutional investors; several large firms, including Vanguard and Caisse de depot et placement du Quebec, also boosted their positions.
• Gildan reported better-than-expected quarterly results with EPS of $0.43 on revenue of $1.17 billion, and analysts currently rate the stock a Moderate Buy with a consensus price target of $78.21.

Azzad Asset Management Inc. ADV lifted its holdings in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 40.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,628 shares of the textile maker's stock after acquiring an additional 25,340 shares during the quarter. Azzad Asset Management Inc. ADV's holdings in Gildan Activewear were worth $4,932,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of GIL. Caisse de depot et placement du Quebec grew its holdings in shares of Gildan Activewear by 1,695.7% during the fourth quarter. Caisse de depot et placement du Quebec now owns 6,240,014 shares of the textile maker's stock worth $390,539,000 after purchasing an additional 5,892,514 shares during the last quarter. Norges Bank acquired a new position in Gildan Activewear during the 4th quarter worth about $151,018,000. Mackenzie Financial Corp grew its holdings in 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 acquiring an additional 2,001,279 shares during the last quarter. Brandes Investment Partners LP bought a new stake in Gildan Activewear during the 4th quarter worth about $99,870,000. Finally, Vanguard Group Inc. increased its position in Gildan Activewear by 26.0% in the 4th quarter. Vanguard Group Inc. now owns 7,566,962 shares of the textile maker's stock valued at $472,964,000 after acquiring an additional 1,561,729 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GIL has been the topic of a number of research reports. Canadian Imperial Bank of Commerce reiterated an "outperform" rating and set a $77.00 target price on shares of Gildan Activewear in a research report on Friday, May 1st. Weiss Ratings lowered shares of Gildan Activewear from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 18th. 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 research report on Wednesday, June 17th. Scotiabank reaffirmed a "sector outperform" rating and set a $65.00 price objective (down from $72.00) on shares of Gildan Activewear in a report on Wednesday, June 17th. Finally, UBS Group reiterated a "buy" rating on shares of Gildan Activewear in a research report on Wednesday, June 3rd. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Gildan Activewear currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.21.

Gildan Activewear Price Performance

Shares of GIL stock opened at $50.89 on Friday. Gildan Activewear, Inc. has a 52-week low of $46.00 and a 52-week high of $73.69. The stock has a market cap of $9.42 billion, a PE ratio of 29.93 and a beta of 1.11. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.17 and a current ratio of 2.35. The firm's 50 day moving average price is $56.23 and its two-hundred day moving average price is $60.64.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its earnings results on Thursday, April 30th. The textile maker reported $0.43 EPS for the quarter, beating the consensus estimate of $0.36 by $0.07. The company had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.14 billion. Gildan Activewear had a net margin of 6.10% and a return on equity of 21.38%. The business's revenue for the quarter was up 63.8% compared to the same quarter last year. 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. As a group, analysts forecast that Gildan Activewear, Inc. will post 4.25 EPS for the current year.

Gildan Activewear Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 20th were given a dividend of $0.249 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Wednesday, May 20th. Gildan Activewear's payout ratio is presently 58.82%.

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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