Gildan Activewear, Inc. $GIL Shares Acquired by Cardinal Capital Management Inc.

Key Points

• Gildan Activewear is Cardinal Capital Management Inc.'s 5th largest position, accounting for 4.2% of their holdings, with a total ownership of approximately $134 million.
• Multiple institutional investors have recently increased or initiated stakes in Gildan, indicating strong interest in the stock, with 82.83% of the company owned by hedge funds and other institutions.
• Analysts have a consensus rating of "Moderate Buy" for Gildan Activewear, with a price target averaging $64.58, indicating expectations for future stock performance.

Cardinal Capital Management Inc. raised its position in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,728,046 shares of the textile maker's stock after acquiring an additional 14,065 shares during the quarter. Gildan Activewear makes up approximately 4.2% of Cardinal Capital Management Inc.'s portfolio, making the stock its 5th biggest position. Cardinal Capital Management Inc. owned 1.81% of Gildan Activewear worth $134,378,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GIL. The Manufacturers Life Insurance Company grew its position in Gildan Activewear by 67.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,959,555 shares of the textile maker's stock valued at $131,556,000 after acquiring an additional 1,189,921 shares in the last quarter. Genus Capital Management Inc. boosted its stake in shares of Gildan Activewear by 191.7% in the 1st quarter. Genus Capital Management Inc. now owns 251,308 shares of the textile maker's stock valued at $11,109,000 after buying an additional 525,386 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Gildan Activewear by 40.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,760,253 shares of the textile maker's stock valued at $77,838,000 after buying an additional 503,359 shares during the period. Alberta Investment Management Corp boosted its stake in shares of Gildan Activewear by 28.7% in the 1st quarter. Alberta Investment Management Corp now owns 1,589,001 shares of the textile maker's stock valued at $70,240,000 after buying an additional 354,201 shares during the period. Finally, Forge First Asset Management Inc. lifted its stake in Gildan Activewear by 713.7% during the first quarter. Forge First Asset Management Inc. now owns 379,200 shares of the textile maker's stock worth $16,781,000 after purchasing an additional 332,600 shares during the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Cfra Research upgraded Gildan Activewear to a "hold" rating in a research note on Monday, August 4th. Barclays increased their price target on Gildan Activewear from $51.00 to $56.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Royal Bank Of Canada lifted their price objective on shares of Gildan Activewear from $61.00 to $68.00 and gave the company an "outperform" rating in a research report on Thursday, August 14th. UBS Group lifted their price objective on shares of Gildan Activewear from $56.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Finally, Stifel Nicolaus set a $75.00 price objective on shares of Gildan Activewear and gave the company a "buy" rating in a research report on Friday. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $64.58.

Gildan Activewear Price Performance

Gildan Activewear stock traded up $1.26 during trading hours on Tuesday, hitting $57.58. The stock had a trading volume of 686,936 shares, compared to its average volume of 789,341. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.87 and a quick ratio of 1.67. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 1.80 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. The stock's fifty day moving average is $53.63 and its two-hundred day moving average is $48.87.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted 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. The company had revenue of $918.50 million for the quarter, compared to analyst estimates of $908.41 million. Gildan Activewear had a return on equity of 34.31% and a net margin of 14.55%.Gildan Activewear's revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.74 earnings per share. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. As a group, analysts predict that Gildan Activewear, Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, August 21st were given 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 dividend payout ratio is 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.