Counterpoint Mutual Funds LLC Takes $317,000 Position in Gildan Activewear, Inc. $GIL

Key Points

• Counterpoint Mutual Funds LLC has acquired a new position in Gildan Activewear, Inc., purchasing 6,432 shares valued at approximately $317,000 during the second quarter.
• Gildan Activewear reported $0.97 earnings per share for the last quarter, surpassing analyst estimates, along with revenue of $918.50 million, a 6.5% increase year-over-year.
• The company recently announced a quarterly dividend of $0.226 per share, translating to an annual yield of 1.6% and a payout ratio of 28.57%.

Counterpoint Mutual Funds LLC acquired a new stake in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,432 shares of the textile maker's stock, valued at approximately $317,000.

A number of other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its stake in shares of Gildan Activewear by 67.2% during the first quarter. The Manufacturers Life Insurance Company now owns 2,959,555 shares of the textile maker's stock valued at $131,556,000 after purchasing an additional 1,189,921 shares during the period. Mackenzie Financial Corp raised its stake in shares of Gildan Activewear by 2.1% during the first quarter. Mackenzie Financial Corp now owns 2,738,691 shares of the textile maker's stock valued at $121,073,000 after purchasing an additional 56,400 shares during the period. Cardinal Capital Management Inc. raised its stake in shares of Gildan Activewear by 0.5% during the second quarter. Cardinal Capital Management Inc. now owns 2,728,046 shares of the textile maker's stock valued at $134,378,000 after purchasing an additional 14,065 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Gildan Activewear by 40.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,760,253 shares of the textile maker's stock valued at $77,838,000 after purchasing an additional 503,359 shares during the period. Finally, Alberta Investment Management Corp raised its stake in shares of Gildan Activewear by 28.7% during the first quarter. Alberta Investment Management Corp now owns 1,589,001 shares of the textile maker's stock valued at $70,240,000 after purchasing an additional 354,201 shares during the period. Hedge funds and other institutional investors own 82.83% of the company's stock.

Gildan Activewear Stock Down 0.9%

GIL stock opened at $56.85 on Thursday. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.87 and a quick ratio of 1.67. Gildan Activewear, Inc. has a 1-year low of $37.16 and a 1-year high of $57.80. The firm has a fifty day moving average price of $53.90 and a two-hundred day moving average price of $48.99. The firm has a market cap of $8.47 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 1.84 and a beta of 1.17.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its earnings results on Thursday, July 31st. The textile maker reported $0.97 earnings per share for the quarter, beating 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 firm had revenue of $918.50 million during the quarter, compared to analyst estimates of $908.41 million. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. Research analysts predict 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 was paid on Monday, September 15th. Shareholders of record on Thursday, August 21st were paid a dividend of $0.226 per share. The ex-dividend date was Thursday, August 21st. This represents a $0.90 annualized dividend and a yield of 1.6%. Gildan Activewear's payout ratio is presently 28.57%.

Analyst Upgrades and Downgrades

GIL has been the topic of a number of analyst reports. Citigroup set a $60.00 price objective on shares of Gildan Activewear and gave the company a "buy" rating in a research note on Thursday, August 14th. Scotiabank restated an "outperform" rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Stifel Nicolaus set a $75.00 price target on shares of Gildan Activewear and gave the stock a "buy" rating in a research note on Friday, September 19th. National Bankshares restated an "outperform" rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $64.58.

Gildan Activewear Company 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.

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