The Manufacturers Life Insurance Company Has $131.56 Million Position in Gildan Activewear, Inc. $GIL

Key Points

• The Manufacturers Life Insurance Company increased its stake in Gildan Activewear by 67.2%, now owning approximately 1.95% of the company, valued at $131.56 million.
• Gildan Activewear reported earnings of $0.97 per share for the last quarter, exceeding analyst expectations, with revenue of $918.5 million, up 6.5% year-over-year.
• The company recently announced a quarterly dividend of $0.226 per share, yielding around 1.7%, with a payout ratio of 28.57%.

The Manufacturers Life Insurance Company raised its position in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 67.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,959,555 shares of the textile maker's stock after purchasing an additional 1,189,921 shares during the quarter. The Manufacturers Life Insurance Company owned 1.95% of Gildan Activewear worth $131,556,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Olde Wealth Management LLC acquired a new stake in Gildan Activewear during the 1st quarter valued at $29,000. Versant Capital Management Inc raised its stake in Gildan Activewear by 510.7% during the 1st quarter. Versant Capital Management Inc now owns 745 shares of the textile maker's stock valued at $33,000 after purchasing an additional 623 shares during the period. GAMMA Investing LLC raised its stake in Gildan Activewear by 4,323.5% during the 1st quarter. GAMMA Investing LLC now owns 752 shares of the textile maker's stock valued at $33,000 after purchasing an additional 735 shares during the period. Blue Trust Inc. grew its holdings in shares of Gildan Activewear by 69.3% during the 1st 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. Finally, Aquatic Capital Management LLC purchased a new position in shares of Gildan Activewear during the 4th quarter valued at $114,000. 82.83% of the stock is owned by institutional investors and hedge funds.

Gildan Activewear Price Performance

NYSE:GIL traded up $1.61 during mid-day trading on Thursday, hitting $54.64. The company's stock had a trading volume of 259,535 shares, compared to its average volume of 774,708. 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 capitalization of $8.16 billion, a price-to-earnings ratio of 17.35, a P/E/G ratio of 1.75 and a beta of 1.17. Gildan Activewear, Inc. has a fifty-two week low of $37.16 and a fifty-two week high of $57.76. The stock has a fifty day moving average of $52.39 and a 200-day moving average of $48.73.

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

Gildan Activewear Dividend Announcement

The business also recently declared 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 of this dividend is Thursday, August 21st. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.7%. Gildan Activewear's dividend payout ratio (DPR) is currently 28.57%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. BMO Capital Markets restated an "outperform" rating on shares of Gildan Activewear in a report on Thursday, August 14th. Wall Street Zen raised shares of Gildan Activewear from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. National Bankshares reissued an "outperform" rating on shares of Gildan Activewear in a research report on Thursday, August 14th. UBS Group upped 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, CIBC upped their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an "outperformer" rating in a research report on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $64.58.

Gildan Activewear 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.