Invesco Ltd. Acquires 14,939 Shares of 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 Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 12.2% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 137,553 shares of the textile maker's stock after buying an additional 14,939 shares during the period. Invesco Ltd. owned about 0.09% of Gildan Activewear worth $6,083,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its position in Gildan Activewear by 1.9% in the 4th quarter. Janus Henderson Group PLC now owns 6,970,246 shares of the textile maker's stock valued at $327,950,000 after buying an additional 128,674 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Gildan Activewear by 2.1% during the first quarter. Mackenzie Financial Corp now owns 2,738,691 shares of the textile maker's stock worth $121,073,000 after purchasing an additional 56,400 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Gildan Activewear by 276.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker's stock worth $83,394,000 after purchasing an additional 1,300,121 shares during the period. Alberta Investment Management Corp grew its stake in shares of Gildan Activewear by 28.7% during the first quarter. Alberta Investment Management Corp now owns 1,589,001 shares of the textile maker's stock worth $70,240,000 after purchasing an additional 354,201 shares during the period. Finally, Lazard Asset Management LLC grew its stake in shares of Gildan Activewear by 15.7% during the fourth quarter. Lazard Asset Management LLC now owns 1,523,077 shares of the textile maker's stock worth $71,660,000 after purchasing an additional 206,569 shares during the period. 82.83% of the stock is currently owned by institutional investors.

Gildan Activewear Stock Down 0.6%

Shares of GIL traded down $0.33 during midday trading on Friday, hitting $54.60. The stock had a trading volume of 622,143 shares, compared to its average volume of 1,704,495. The company has a 50 day simple moving average of $52.02 and a two-hundred day simple moving average of $48.66. Gildan Activewear, Inc. has a twelve month low of $37.16 and a twelve month high of $57.76. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 1.75 and a beta of 1.17. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.87 and a quick ratio of 1.67.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its quarterly earnings results on Thursday, July 31st. The textile maker reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.01. Gildan Activewear had a return on equity of 34.31% and a net margin of 14.55%.The firm had revenue of $918.50 million for the quarter, compared to the consensus estimate of $908.41 million. During the same quarter last year, the business posted $0.74 EPS. The company's revenue for the quarter 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, analysts anticipate that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Announces Dividend

The firm 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 dividend of $0.226 per share. The ex-dividend date is Thursday, August 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.7%. Gildan Activewear's dividend payout ratio (DPR) is presently 28.57%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GIL. Citigroup set a $60.00 price objective on Gildan Activewear and gave the stock a "buy" rating in a research note on Thursday, August 14th. Royal Bank Of Canada boosted their price objective 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. Stifel Nicolaus boosted their price objective on shares of Gildan Activewear from $65.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Barclays lifted their target price on Gildan Activewear from $51.00 to $56.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, National Bankshares reiterated an "outperform" rating on shares of Gildan Activewear in a report on Thursday, August 14th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $64.58.

About Gildan Activewear

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.