Gildan Activewear, Inc. $GIL Shares Bought by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company increased its Gildan Activewear stake by 15.7% in the first quarter, acquiring 909,001 additional shares and bringing its holdings to 6.7 million shares worth approximately $373.1 million. Institutional investors collectively own 82.83% of the company.
• Analysts remain broadly positive, with 13 Buy ratings and four Holds producing a consensus “Moderate Buy” rating and an average price target of $78.21. Recent targets range from $65 to $80.
• Gildan reported quarterly adjusted EPS of $0.43, beating estimates of $0.36, while revenue rose 63.8% year over year to $1.17 billion. The company also pays a $1.00 annualized dividend, yielding about 2.0%.

The Manufacturers Life Insurance Company grew its stake in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 15.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,706,078 shares of the textile maker's stock after purchasing an additional 909,001 shares during the period. The Manufacturers Life Insurance Company owned about 3.62% of Gildan Activewear worth $373,122,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Washburn Capital Management Inc. lifted its stake in shares of Gildan Activewear by 3.8% in the 4th quarter. Washburn Capital Management Inc. now owns 4,257 shares of the textile maker's stock valued at $266,000 after purchasing an additional 157 shares during the period. Fifth Third Bancorp grew its position in Gildan Activewear by 16.5% during the first quarter. Fifth Third Bancorp now owns 1,355 shares of the textile maker's stock valued at $75,000 after buying an additional 192 shares during the period. Arkadios Wealth Advisors increased its holdings in Gildan Activewear by 2.2% in the fourth quarter. Arkadios Wealth Advisors now owns 8,787 shares of the textile maker's stock valued at $549,000 after buying an additional 193 shares in the last quarter. Tacita Capital Inc increased its holdings in Gildan Activewear by 1.9% in the fourth quarter. Tacita Capital Inc now owns 11,250 shares of the textile maker's stock valued at $704,000 after buying an additional 211 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in Gildan Activewear by 2.1% in the second quarter. Cetera Investment Advisers now owns 12,510 shares of the textile maker's stock valued at $616,000 after buying an additional 259 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Scotia lowered their target price on shares of Gildan Activewear from $72.00 to $65.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, June 17th. Stifel Nicolaus set a $80.00 price target on Gildan Activewear and gave the stock a "buy" rating in a report on Monday, July 20th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating and set a $77.00 price target on shares of Gildan Activewear in a research report on Friday, May 1st. Royal Bank Of Canada reissued an "outperform" rating on shares of Gildan Activewear in a report on Wednesday, June 17th. Finally, UBS Group restated a "buy" rating on shares of Gildan Activewear in a research report on Friday, July 17th. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.21.

Gildan Activewear Stock Performance

GIL opened at $50.64 on Tuesday. The firm's fifty day simple moving average is $54.80 and its two-hundred day simple moving average is $59.72. Gildan Activewear, Inc. has a 52-week low of $46.00 and a 52-week high of $73.69. The company has a market cap of $9.38 billion, a price-to-earnings ratio of 29.79 and a beta of 1.11. The company has a quick ratio of 1.17, a current ratio of 2.35 and a debt-to-equity ratio of 1.32.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its earnings results on Thursday, April 30th. The textile maker reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.07. Gildan Activewear had a net margin of 6.10% and a return on equity of 21.38%. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter in the previous year, the company earned $0.59 earnings per share. The company's quarterly revenue was up 63.8% on a year-over-year basis. Gildan Activewear has set its FY 2026 guidance at 4.200-4.400 EPS. Equities analysts anticipate that Gildan Activewear, Inc. will post 4.25 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, May 20th were paid a dividend of $0.249 per share. This represents a $1.00 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, May 20th. Gildan Activewear's payout ratio is 58.82%.

Gildan Activewear Company Profile

Gildan Activewear Inc NYSE: GIL is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.

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