Candriam S.C.A. Buys 58,586 Shares of Gildan Activewear, Inc. $GIL

Key Points

• Candriam S.C.A. increased its stake in Gildan Activewear by 293.1% in Q1, now holding approximately 0.05% of the company valued at $3.47 million.
• Gildan Activewear's stock has a current market cap of $8.31 billion and the company recently reported $0.97 EPS, exceeding analysts' expectations.
• The company announced a quarterly dividend of $0.226 per share, which represents an annualized yield of 1.6%, with a payout ratio of 28.57%.

Candriam S.C.A. raised its stake in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 293.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,575 shares of the textile maker's stock after purchasing an additional 58,586 shares during the quarter. Candriam S.C.A. owned 0.05% of Gildan Activewear worth $3,473,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of GIL. Mirae Asset Global Investments Co. Ltd. bought a new stake in Gildan Activewear in the 1st quarter worth about $1,072,000. Sumitomo Mitsui Trust Group Inc. bought a new position in Gildan Activewear in the 1st quarter valued at $474,000. PNC Financial Services Group Inc. increased its position in shares of 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 valued at $542,000 after purchasing an additional 7,778 shares during the last quarter. Aigen Investment Management LP raised its stake in shares of Gildan Activewear by 243.7% during the 1st quarter. Aigen Investment Management LP now owns 26,356 shares of the textile maker's stock worth $1,165,000 after purchasing an additional 18,688 shares during the period. Finally, Polar Asset Management Partners Inc. boosted its holdings in shares of Gildan Activewear by 55.6% in the 4th quarter. Polar Asset Management Partners Inc. now owns 26,450 shares of the textile maker's stock worth $1,244,000 after buying an additional 9,450 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company's stock.

Gildan Activewear Price Performance

Shares of Gildan Activewear stock traded down $0.32 on Thursday, reaching $55.06. The stock had a trading volume of 207,024 shares, compared to its average volume of 772,599. The business's 50 day moving average is $51.70 and its two-hundred day moving average is $48.62. The company has a current ratio of 3.87, a quick ratio of 1.67 and a debt-to-equity ratio of 1.37. The company has a market cap of $8.22 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 1.76 and a beta of 1.17. Gildan Activewear, Inc. has a 1 year low of $37.16 and a 1 year high of $57.76.

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

Gildan Activewear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders 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 annualized dividend and a dividend yield of 1.6%. Gildan Activewear's dividend payout ratio (DPR) is presently 28.57%.

Analyst Ratings Changes

A number of research firms have weighed in on GIL. Scotiabank reiterated an "outperform" rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Royal Bank Of Canada upped their price objective on Gildan Activewear from $61.00 to $68.00 and gave the company an "outperform" rating in a research note on Thursday, August 14th. BMO Capital Markets reissued an "outperform" rating on shares of Gildan Activewear in a report on Thursday, August 14th. Barclays boosted their target price on Gildan Activewear from $51.00 to $56.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Wall Street Zen upgraded Gildan Activewear from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.