Northwest & Ethical Investments L.P. Purchases 31,245 Shares of Gildan Activewear, Inc. $GIL

Key Points

• Northwest & Ethical Investments L.P. significantly increased its stake in Gildan Activewear by 60.3%, owning 83,018 shares worth approximately $3.67 million.
• Gildan Activewear posted a net revenue of $918.5 million for the latest quarter, with earnings per share marginally beating analysts' estimates.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Gildan Activewear, with a target price set at $64.58.

Northwest & Ethical Investments L.P. boosted its stake in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 60.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,018 shares of the textile maker's stock after acquiring an additional 31,245 shares during the period. Northwest & Ethical Investments L.P. owned 0.05% of Gildan Activewear worth $3,672,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Olde Wealth Management LLC bought a new stake in Gildan Activewear in the first quarter valued at $29,000. Versant Capital Management Inc boosted its holdings in Gildan Activewear by 510.7% in 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 boosted its holdings in Gildan Activewear by 4,323.5% in the first quarter. GAMMA Investing LLC now owns 752 shares of the textile maker's stock valued at $33,000 after acquiring an additional 735 shares in the last quarter. 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. Finally, Natixis boosted its holdings in Gildan Activewear by 423.8% in the fourth quarter. Natixis now owns 1,540 shares of the textile maker's stock valued at $72,000 after acquiring an additional 1,246 shares in the last quarter. Institutional investors own 82.83% of the company's stock.

Gildan Activewear Stock Up 2.7%

Shares of GIL traded up $1.47 during trading hours on Friday, hitting $55.68. The company had a trading volume of 1,080,456 shares, compared to its average volume of 773,725. The firm has a fifty day moving average price of $51.06 and a 200-day moving average price of $48.52. 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 stock has a market capitalization of $8.31 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 1.75 and a beta of 1.17. Gildan Activewear, Inc. has a 52-week low of $37.16 and a 52-week high of $57.76.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its earnings results 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 return on equity of 34.31% and a net margin of 14.55%.The business 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 EPS. Gildan Activewear's revenue 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 research analysts forecast that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, August 21st will be given 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 yield of 1.6%. Gildan Activewear's payout ratio is 28.57%.

Analysts Set New Price Targets

GIL has been the subject of several recent research reports. Scotiabank reissued an "outperform" rating on shares of Gildan Activewear in a research report on Thursday, August 14th. Stifel Nicolaus raised their price objective on Gildan Activewear from $65.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Royal Bank Of Canada raised their price objective on Gildan Activewear from $61.00 to $68.00 and gave the company an "outperform" rating in a research report on Thursday, August 14th. BMO Capital Markets reissued an "outperform" rating on shares of Gildan Activewear in a research report on Thursday, August 14th. Finally, Barclays raised their price objective on Gildan Activewear from $51.00 to $56.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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.