BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Stock Position in Gildan Activewear, Inc. $GIL

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 raised its stake in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 88.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 168,533 shares of the textile maker's stock after acquiring an additional 79,063 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.11% of Gildan Activewear worth $7,452,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Olde Wealth Management LLC bought a new position in shares of Gildan Activewear in the 1st quarter worth approximately $29,000. Versant Capital Management Inc lifted its stake in shares of Gildan Activewear by 510.7% in the 1st quarter. Versant Capital Management Inc now owns 745 shares of the textile maker's stock worth $33,000 after purchasing an additional 623 shares during the period. GAMMA Investing LLC lifted its stake in shares of Gildan Activewear by 4,323.5% in the 1st quarter. GAMMA Investing LLC now owns 752 shares of the textile maker's stock worth $33,000 after purchasing an additional 735 shares during the period. Blue Trust Inc. lifted its stake in shares of Gildan Activewear by 69.3% in the 1st quarter. Blue Trust Inc. now owns 1,336 shares of the textile maker's stock worth $59,000 after purchasing an additional 547 shares during the period. Finally, Aquatic Capital Management LLC bought a new position in shares of Gildan Activewear in the 4th quarter worth approximately $114,000. Institutional investors own 82.83% of the company's stock.

Gildan Activewear Price Performance

GIL traded down $0.40 during trading on Thursday, reaching $54.98. 739,139 shares of the company traded hands, compared to its average volume of 775,988. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.67 and a current ratio of 3.87. Gildan Activewear, Inc. has a 12-month low of $37.16 and a 12-month high of $57.76. The firm has a fifty day simple moving average of $51.86 and a 200 day simple moving average of $48.65. The company has a market cap of $8.21 billion, a P/E ratio of 17.45, a PEG ratio of 1.76 and a beta of 1.17.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its quarterly earnings data on Thursday, July 31st. The textile maker reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. Gildan Activewear had a net margin of 14.55% and a return on equity of 34.31%. The business had revenue of $918.50 million during the quarter, compared to analyst estimates of $908.41 million. During the same period last year, the firm posted $0.74 EPS. The company's 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. On average, equities analysts forecast that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.6%. Gildan Activewear's dividend payout ratio (DPR) is 28.57%.

Analyst Upgrades and Downgrades

GIL has been the topic of several recent research reports. TD Securities increased their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Cfra Research upgraded shares of Gildan Activewear to a "hold" rating in a research note on Monday, August 4th. National Bankshares reissued an "outperform" rating on shares of Gildan Activewear in a report on Thursday, August 14th. CIBC increased their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an "outperformer" rating in a report on Friday, August 1st. Finally, Stifel Nicolaus increased their target price on shares of Gildan Activewear from $65.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Gildan Activewear currently has an average rating of "Moderate Buy" and an average price target of $64.58.

Gildan Activewear Profile

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.