Federation des caisses Desjardins du Quebec Purchases 23,399 Shares of Gildan Activewear, Inc. $GIL

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in Gildan Activewear by 29.5%, owning 102,611 shares worth approximately $4.53 million.
• Several institutional investors including Northern Trust Corp and Bank of America Corp DE significantly boosted their holdings in Gildan Activewear during the 4th quarter, indicating strong institutional interest in the stock.
• Analysts have a consensus rating of "Moderate Buy" for Gildan Activewear, with a price target of $64.58, reflecting confidence in the company's future performance.

Federation des caisses Desjardins du Quebec lifted its position in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 29.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 102,611 shares of the textile maker's stock after purchasing an additional 23,399 shares during the period. Federation des caisses Desjardins du Quebec owned about 0.07% of Gildan Activewear worth $4,525,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Olde Wealth Management LLC bought a new stake in shares of Gildan Activewear in the first quarter worth about $29,000. Twin Tree Management LP purchased a new position in shares of Gildan Activewear during the first quarter valued at approximately $29,000. Versant Capital Management Inc raised its holdings in shares of Gildan Activewear by 510.7% during the first quarter. Versant Capital Management Inc now owns 745 shares of the textile maker's stock valued at $33,000 after acquiring an additional 623 shares in the last quarter. GAMMA Investing LLC lifted its stake in Gildan Activewear by 4,323.5% in the first quarter. GAMMA Investing LLC now owns 752 shares of the textile maker's stock worth $33,000 after acquiring an additional 735 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Gildan Activewear by 69.3% in the first quarter. Blue Trust Inc. now owns 1,336 shares of the textile maker's stock valued at $59,000 after acquiring an additional 547 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on GIL shares. Barclays boosted their price target on shares of Gildan Activewear from $51.00 to $56.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. BMO Capital Markets reissued an "outperform" rating on shares of Gildan Activewear in a research report on Thursday, August 14th. CIBC lifted their price target on Gildan Activewear from $56.00 to $60.00 and gave the company an "outperformer" rating in a research report on Friday, August 1st. Wall Street Zen cut Gildan Activewear from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Citigroup set a $60.00 target price on shares of Gildan Activewear and gave the company a "buy" rating in a report on Thursday, August 14th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $64.58.

Gildan Activewear Stock Down 1.5%

GIL stock traded down $0.82 during trading on Tuesday, hitting $54.95. 957,595 shares of the stock traded hands, compared to its average volume of 781,790. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 1.78 and a beta of 1.17. 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 $57.76. The firm's 50 day moving average is $52.78 and its two-hundred day moving average is $48.71.

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 for the quarter, topping 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 company had revenue of $918.50 million during the quarter, compared to analyst estimates of $908.41 million. During the same period in the previous year, the business earned $0.74 EPS. The firm'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, sell-side analysts anticipate that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Announces Dividend

The business 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 is Thursday, August 21st. This represents a $0.90 annualized dividend and a yield of 1.6%. Gildan Activewear's dividend payout ratio (DPR) is currently 28.57%.

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.