Legacy Wealth Asset Management LLC Purchases 5,885 Shares of Gildan Activewear, Inc. $GIL

Key Points

• Legacy Wealth Asset Management LLC increased its holdings in Gildan Activewear by 18.8%, acquiring an additional 5,885 shares, bringing its total to 37,148 shares valued at approximately $1.83 million.
• Gildan Activewear reported quarterly earnings of $0.97 per share, exceeding analysts' expectations, with a revenue of $918.5 million, marking a year-over-year increase of 6.5%.
• Several analysts have revised their price targets for Gildan Activewear, with a consensus target price of $66.46 indicating a "Moderate Buy" rating from the majority of investment analysts.

Legacy Wealth Asset Management LLC raised its position in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 18.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 37,148 shares of the textile maker's stock after buying an additional 5,885 shares during the period. Legacy Wealth Asset Management LLC's holdings in Gildan Activewear were worth $1,829,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of GIL. Maseco LLP bought a new position in Gildan Activewear in the 2nd quarter valued at $26,000. Olde Wealth Management LLC bought a new position in shares of Gildan Activewear in the 1st quarter worth $29,000. Twin Tree Management LP bought a new position in shares of Gildan Activewear in the 1st quarter worth $29,000. GAMMA Investing LLC boosted its position in shares of Gildan Activewear by 4,323.5% in the 1st quarter. GAMMA Investing LLC now owns 752 shares of the textile maker's stock worth $33,000 after purchasing an additional 735 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Gildan Activewear by 69.3% in the 1st quarter. Blue Trust Inc. now owns 1,336 shares of the textile maker's stock worth $59,000 after purchasing an additional 547 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors.

Gildan Activewear Stock Performance

GIL opened at $59.90 on Tuesday. The business's 50-day moving average price is $56.69 and its two-hundred day moving average price is $50.83. Gildan Activewear, Inc. has a 1 year low of $37.16 and a 1 year high of $62.23. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 19.02, a P/E/G ratio of 1.95 and a beta of 1.20. 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 earnings results on Thursday, July 31st. The textile maker reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%.Gildan Activewear's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter 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. Equities analysts expect that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Thursday, August 21st were issued a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Thursday, August 21st. Gildan Activewear's payout ratio is currently 28.57%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Royal Bank Of Canada raised their price target on Gildan Activewear from $61.00 to $68.00 and gave the stock an "outperform" rating in a research report on Thursday, August 14th. Stifel Nicolaus set a $75.00 price target on Gildan Activewear and gave the stock a "buy" rating in a research report on Friday, September 19th. Barclays raised their price target on Gildan Activewear from $51.00 to $56.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. CIBC raised their price objective on Gildan Activewear from $56.00 to $60.00 and gave the stock an "outperformer" rating in a research note on Friday, August 1st. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Gildan Activewear in a research note on Tuesday, October 14th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Gildan Activewear has an average rating of "Moderate Buy" and a consensus target price of $66.46.

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.

Want to see what other hedge funds are holding GIL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.