Davidson Investment Advisors Has $22.29 Million Stock Holdings in Gildan Activewear, Inc. $GIL

Key Points

• Davidson Investment Advisors increased its holdings in Gildan Activewear by 1.1%, owning approximately 452,753 shares worth about $22.29 million as of the end of the most recent quarter.
• The textile company reported earnings of $0.97 per share for the last quarter, surpassing the expected $0.96 and marking a 6.5% year-over-year revenue increase to $918.50 million.
• Gildan Activewear declared a quarterly dividend of $0.226, reflecting an annual yield of 1.5%, with a current payout ratio of 28.57% as of September 15th.

Davidson Investment Advisors grew its position in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 452,753 shares of the textile maker's stock after buying an additional 4,748 shares during the period. Davidson Investment Advisors owned approximately 0.30% of Gildan Activewear worth $22,294,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its position in 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 worth $131,556,000 after acquiring an additional 1,189,921 shares during the period. Genus Capital Management Inc. grew its position in shares of Gildan Activewear by 191.7% during the 1st 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 in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Gildan Activewear by 40.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,760,253 shares of the textile maker's stock worth $77,838,000 after purchasing an additional 503,359 shares in the last quarter. Alberta Investment Management Corp increased its holdings 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 worth $70,240,000 after purchasing an additional 354,201 shares during the period. Finally, Forge First Asset Management Inc. boosted its stake in shares of Gildan Activewear by 713.7% in 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 buying an additional 332,600 shares during the period. Institutional investors own 82.83% of the company's stock.

Gildan Activewear Stock Up 0.3%

Shares of NYSE:GIL opened at $60.69 on Wednesday. Gildan Activewear, Inc. has a 52-week low of $37.16 and a 52-week high of $62.23. The company has a market capitalization of $9.05 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 1.94 and a beta of 1.20. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.67 and a current ratio of 3.87. The company has a fifty day moving average of $56.01 and a 200-day moving average of $50.31.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its quarterly earnings data 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 return on equity of 34.31% and a net margin of 14.55%.The company had revenue of $918.50 million for the quarter, compared to the consensus estimate of $908.41 million. During the same quarter last year, the business posted $0.74 EPS. Gildan Activewear's revenue for the quarter 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 predict that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Thursday, August 21st were paid a $0.226 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.90 annualized dividend and a dividend yield of 1.5%. Gildan Activewear's dividend payout ratio is currently 28.57%.

Analysts Set New Price Targets

GIL has been the subject of several analyst reports. CIBC lifted their price objective on Gildan Activewear from $56.00 to $60.00 and gave the company an "outperformer" rating in a report on Friday, August 1st. Cfra Research raised Gildan Activewear to a "hold" rating in a research note on Monday, August 4th. Scotiabank reaffirmed an "outperform" rating on shares of Gildan Activewear in a research report on Thursday, August 14th. TD Securities set a $73.00 target price on shares of Gildan Activewear and gave the company a "buy" rating in a report on Monday, October 6th. Finally, Canaccord Genuity Group upped their price target on shares of Gildan Activewear from $60.00 to $67.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Thirteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $66.23.

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.

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