Gildan Activewear, Inc. $GIL Shares Bought by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC increased its holdings in Gildan Activewear by 134% during Q1, owning approximately 0.15% of the company valued at $10.15 million.
• Gildan Activewear reported earnings of $0.97 per share, exceeding expectations, with quarterly revenue reaching $918.5 million.
• The company has declared a quarterly dividend of $0.226 per share to be paid on September 15, contributing to an annualized yield of 1.7%.

Cubist Systematic Strategies LLC increased its position in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 134.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 229,554 shares of the textile maker's stock after purchasing an additional 131,439 shares during the period. Cubist Systematic Strategies LLC owned 0.15% of Gildan Activewear worth $10,154,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Twin Tree Management LP purchased a new position in Gildan Activewear during the first quarter worth about $29,000. Baird Financial Group Inc. boosted its stake in Gildan Activewear by 65.2% during the first quarter. Baird Financial Group Inc. now owns 8,216 shares of the textile maker's stock worth $363,000 after buying an additional 3,244 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Gildan Activewear by 67.2% during the first quarter. The Manufacturers Life Insurance Company now owns 2,959,555 shares of the textile maker's stock worth $131,556,000 after buying an additional 1,189,921 shares during the period. Driehaus Capital Management LLC purchased a new position in Gildan Activewear during the first quarter worth about $8,488,000. Finally, Pembroke Management LTD boosted its stake in Gildan Activewear by 0.7% during the first quarter. Pembroke Management LTD now owns 74,092 shares of the textile maker's stock worth $3,276,000 after buying an additional 532 shares during the period. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GIL has been the subject of several recent research reports. Cfra Research raised shares of Gildan Activewear to a "hold" rating in a research note on Monday, August 4th. Stifel Nicolaus raised their price objective on shares of Gildan Activewear from $65.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. National Bankshares reissued an "outperform" rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Scotiabank reiterated an "outperform" rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Finally, CIBC lifted their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an "outperformer" rating in a research note 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $64.58.

Gildan Activewear Stock Performance

Shares of Gildan Activewear stock traded up $0.39 during trading on Friday, reaching $55.46. The company's stock had a trading volume of 1,306,749 shares, compared to its average volume of 1,725,715. The company has a 50-day moving average price of $52.66 and a two-hundred day moving average price of $48.78. Gildan Activewear, Inc. has a fifty-two week low of $37.16 and a fifty-two week high of $57.76. 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 firm has a market cap of $8.28 billion, a PE ratio of 17.60, a P/E/G ratio of 1.77 and a beta of 1.17.

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

Gildan Activewear Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 21st will be paid a $0.226 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.90 annualized dividend and a yield of 1.6%. Gildan Activewear's payout ratio is presently 28.57%.

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.