Invesco Ltd. Boosts Stock Holdings in Gildan Activewear, Inc. $GIL

Key Points

• Invesco Ltd. increased its stake in Gildan Activewear by 12.2%, now owning 137,553 shares valued at approximately $6.08 million.
• Gildan Activewear reported $0.97 EPS for the last quarter, slightly exceeding analysts' expectations, with a revenue of $918.50 million.
• The company declared a quarterly dividend of $0.226, expected to yield 1.6%, with an ex-dividend date set for August 21st.

Invesco Ltd. raised its position in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 12.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 137,553 shares of the textile maker's stock after purchasing an additional 14,939 shares during the quarter. Invesco Ltd. owned 0.09% of Gildan Activewear worth $6,083,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of GIL. Olde Wealth Management LLC purchased a new stake in shares of Gildan Activewear during the first quarter valued at approximately $29,000. Versant Capital Management Inc lifted its position in Gildan Activewear by 510.7% in the 1st 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 lifted its position in Gildan Activewear by 4,323.5% in the 1st 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 stake in 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 purchasing an additional 547 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in shares of Gildan Activewear in the 4th quarter worth $114,000. 82.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GIL shares. Stifel Nicolaus upped their price target on Gildan Activewear from $65.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Cfra Research raised Gildan Activewear to a "hold" rating in a research report on Monday, August 4th. Royal Bank Of Canada raised their price target on shares of Gildan Activewear from $61.00 to $68.00 and gave the company an "outperform" rating in a report on Thursday, August 14th. 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. Finally, Canaccord Genuity Group increased their price objective on shares of Gildan Activewear from $60.00 to $67.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.58.

Gildan Activewear Price Performance

Gildan Activewear stock traded down $0.33 during mid-day trading on Monday, hitting $54.60. The stock had a trading volume of 622,143 shares, compared to its average volume of 1,696,527. Gildan Activewear, Inc. has a one year low of $37.16 and a one year 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 capitalization of $8.15 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.75 and a beta of 1.17. The firm's 50 day moving average is $52.17 and its 200 day moving average is $48.67.

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

Gildan Activewear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, August 21st will be paid a $0.226 dividend. This represents a $0.90 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, August 21st. Gildan Activewear's dividend payout ratio is presently 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.