Gildan Activewear, Inc. $GIL Shares Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Gildan Activewear by 88.4%, acquiring an additional 79,063 shares, bringing their total ownership to 168,533 shares valued at approximately $7.45 million.
• Gildan Activewear's latest earnings report showed an earnings per share (EPS) of $0.97, slightly exceeding analyst estimates, with a revenue increase of 6.5% year-over-year.
• Equity analysts have a consensus rating of "Moderate Buy" for Gildan Activewear, with an average price target of $64.58.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 88.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 168,533 shares of the textile maker's stock after purchasing an additional 79,063 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.11% of Gildan Activewear worth $7,452,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GIL. The Manufacturers Life Insurance Company grew its holdings in Gildan Activewear by 276.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker's stock worth $83,394,000 after purchasing an additional 1,300,121 shares during the last quarter. Genus Capital Management Inc. grew its holdings in Gildan Activewear by 191.7% in the first quarter. Genus Capital Management Inc. now owns 251,308 shares of the textile maker's stock worth $11,109,000 after purchasing an additional 525,386 shares during the last quarter. Millennium Management LLC grew its holdings in Gildan Activewear by 5,996.0% in the fourth quarter. Millennium Management LLC now owns 466,342 shares of the textile maker's stock worth $21,935,000 after purchasing an additional 458,692 shares during the last quarter. Alberta Investment Management Corp grew its holdings in Gildan Activewear by 28.7% in the first quarter. Alberta Investment Management Corp now owns 1,589,001 shares of the textile maker's stock worth $70,240,000 after purchasing an additional 354,201 shares during the last quarter. Finally, Forge First Asset Management Inc. increased its holdings in shares of Gildan Activewear by 713.7% during the first quarter. Forge First Asset Management Inc. now owns 379,200 shares of the textile maker's stock valued at $16,781,000 after acquiring an additional 332,600 shares in the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Stock Performance

NYSE:GIL traded down $0.33 during midday trading on Friday, hitting $54.60. The company's stock had a trading volume of 622,143 shares, compared to its average volume of 1,704,495. Gildan Activewear, Inc. has a fifty-two week low of $37.16 and a fifty-two week high of $57.76. The firm's 50 day moving average is $52.02 and its 200-day moving average is $48.66. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.87 and a quick ratio of 1.67. The firm has a market cap of $8.15 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.75 and a beta of 1.17.

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

Gildan Activewear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 21st will be issued 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 is 28.57%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Gildan Activewear from $65.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, August 14th. UBS Group upped their price objective on shares of Gildan Activewear from $56.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Royal Bank Of Canada upped their price objective on shares of Gildan Activewear from $61.00 to $68.00 and gave the company an "outperform" rating in a report on Thursday, August 14th. Cfra Research upgraded shares of Gildan Activewear to a "hold" rating in a report on Monday, August 4th. Finally, CIBC upped their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an "outperformer" rating in a report on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Gildan Activewear has an average rating of "Moderate Buy" and a consensus price target of $64.58.

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.