Gildan Activewear, Inc. $GIL Shares Purchased by Synovus Financial Corp

Key Points

• Synovus Financial Corp increased its stake in Gildan Activewear by 24.3%, acquiring an additional 5,040 shares, bringing its total holdings to 25,761 shares valued at approximately $1.14 million.
• Gildan Activewear reported $0.97 earnings per share for the last quarter, slightly exceeding analyst estimates, and anticipates a FY 2025 EPS guidance of 3.40-3.56.
• The company recently announced a quarterly dividend of $0.226 per share with an ex-dividend date of August 21, representing a yield of 1.6%.

Synovus Financial Corp grew its holdings in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 24.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,761 shares of the textile maker's stock after purchasing an additional 5,040 shares during the quarter. Synovus Financial Corp's holdings in Gildan Activewear were worth $1,139,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its holdings 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 last quarter. Genus Capital Management Inc. boosted its holdings in shares of Gildan Activewear by 191.7% in the 1st quarter. Genus Capital Management Inc. now owns 251,308 shares of the textile maker's stock valued at $11,109,000 after purchasing an additional 525,386 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Gildan Activewear by 5,996.0% in the 4th quarter. Millennium Management LLC now owns 466,342 shares of the textile maker's stock valued at $21,935,000 after purchasing an additional 458,692 shares during the last quarter. Alberta Investment Management Corp boosted its holdings in Gildan Activewear by 28.7% in the first quarter. Alberta Investment Management Corp now owns 1,589,001 shares of the textile maker's stock valued at $70,240,000 after acquiring an additional 354,201 shares during the last quarter. Finally, Forge First Asset Management Inc. lifted its position in Gildan Activewear by 713.7% during the first quarter. Forge First Asset Management Inc. now owns 379,200 shares of the textile maker's stock valued at $16,781,000 after buying an additional 332,600 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company's stock.

Gildan Activewear Stock Performance

Shares of Gildan Activewear stock traded down $0.33 on Friday, reaching $54.60. 622,143 shares of the company were exchanged, compared to its average volume of 1,704,495. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.67 and a current ratio of 3.87. The company's 50-day moving average is $52.02 and its two-hundred day moving average is $48.66. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 1.75 and a beta of 1.17. Gildan Activewear, Inc. has a 1-year low of $37.16 and a 1-year high of $57.76.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its earnings results on Thursday, July 31st. The textile maker reported $0.97 earnings per share for the quarter, topping 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 analyst estimates of $908.41 million. During the same period last year, the company earned $0.74 earnings per share. The firm'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. As a group, research analysts expect that Gildan Activewear, Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. UBS Group lifted their price target on shares of Gildan Activewear from $56.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Canaccord Genuity Group boosted their price target on Gildan Activewear from $60.00 to $67.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Stifel Nicolaus boosted their price target on Gildan Activewear from $65.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Scotiabank reissued an "outperform" rating on shares of Gildan Activewear in a research report on Thursday, August 14th. Finally, National Bankshares reissued an "outperform" rating on shares of Gildan Activewear in a research report on Thursday, August 14th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $64.58.

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.