Rubric Capital Management LP Buys 1,139,392 Shares of Gildan Activewear, Inc. $GIL

Key Points

• Rubric Capital Management increased its Gildan Activewear stake by 444.4% in the first quarter, purchasing 1.14 million additional shares. It now owns 1.40 million shares valued at approximately $77.7 million.
• Institutional interest remains strong, with hedge funds and other institutions owning 82.83% of Gildan’s stock. Several major investors, including Caisse de dépôt, Mackenzie Financial, Vanguard and Norges Bank, also expanded or initiated positions.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $78.21. Gildan also exceeded quarterly earnings and revenue expectations and pays an annualized dividend of $1.00, yielding about 2%.

Rubric Capital Management LP boosted its stake in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 444.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,395,790 shares of the textile maker's stock after purchasing an additional 1,139,392 shares during the period. Gildan Activewear makes up approximately 0.8% of Rubric Capital Management LP's holdings, making the stock its 27th largest position. Rubric Capital Management LP owned about 0.75% of Gildan Activewear worth $77,676,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GIL. Caisse de depot et placement du Quebec boosted its stake in shares of Gildan Activewear by 1,695.7% in the 4th quarter. Caisse de depot et placement du Quebec now owns 6,240,014 shares of the textile maker's stock worth $390,539,000 after buying an additional 5,892,514 shares during the last quarter. Norges Bank purchased a new stake in Gildan Activewear during the fourth quarter valued at $151,018,000. Mackenzie Financial Corp lifted its holdings in Gildan Activewear by 41.2% in the fourth quarter. Mackenzie Financial Corp now owns 6,860,108 shares of the textile maker's stock valued at $429,382,000 after acquiring an additional 2,001,279 shares during the period. Brandes Investment Partners LP bought a new position in Gildan Activewear in the fourth quarter valued at about $99,870,000. Finally, Vanguard Group Inc. boosted its position in Gildan Activewear by 26.0% in the fourth quarter. Vanguard Group Inc. now owns 7,566,962 shares of the textile maker's stock worth $472,964,000 after purchasing an additional 1,561,729 shares during the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GIL has been the subject of a number of recent research reports. Scotia cut their price target on Gildan Activewear from $72.00 to $65.00 and set a "sector outperform" rating for the company in a research note on Wednesday, June 17th. Canadian Imperial Bank of Commerce reissued an "outperform" rating and issued a $77.00 price objective on shares of Gildan Activewear in a report on Friday, May 1st. Scotiabank restated a "sector outperform" rating and set a $65.00 target price (down from $72.00) on shares of Gildan Activewear in a research report on Wednesday, June 17th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Gildan Activewear in a report on Wednesday, June 17th. Finally, Zacks Research upgraded shares of Gildan Activewear from a "strong sell" rating to a "hold" rating in a research report on Friday, May 1st. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $78.21.

Gildan Activewear Stock Performance

Shares of GIL opened at $50.64 on Tuesday. The business has a 50-day simple moving average of $54.80 and a two-hundred day simple moving average of $59.72. 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, Inc. has a 52 week low of $46.00 and a 52 week high of $73.69. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 29.79 and a beta of 1.11.

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

Gildan Activewear Dividend Announcement

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

About Gildan Activewear

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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