Synovus Financial Corp Boosts Position in Gildan Activewear, Inc. $GIL

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 boosted its position in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 24.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,761 shares of the textile maker's stock after acquiring 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 hedge funds and other institutional investors also recently bought and sold shares of the company. Cooper Financial Group boosted its holdings in Gildan Activewear by 1.7% during the 1st quarter. Cooper Financial Group now owns 16,537 shares of the textile maker's stock valued at $731,000 after acquiring an additional 269 shares during the period. Haven Private LLC boosted its holdings in Gildan Activewear by 3.4% during the 1st quarter. Haven Private LLC now owns 8,653 shares of the textile maker's stock valued at $383,000 after acquiring an additional 284 shares during the period. TD Private Client Wealth LLC boosted its holdings in Gildan Activewear by 15.5% during the 1st quarter. TD Private Client Wealth LLC now owns 3,545 shares of the textile maker's stock valued at $157,000 after acquiring an additional 476 shares during the period. Blue Trust Inc. boosted its holdings 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 acquiring an additional 547 shares during the period. Finally, Raymond James Financial Inc. boosted its holdings in Gildan Activewear by 0.7% during the 1st quarter. Raymond James Financial Inc. now owns 80,133 shares of the textile maker's stock valued at $3,543,000 after acquiring an additional 552 shares during the period. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GIL has been the subject of a number of research analyst reports. Wall Street Zen upgraded Gildan Activewear from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Barclays lifted their price objective on Gildan Activewear from $51.00 to $56.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Cfra Research upgraded Gildan Activewear to a "hold" rating in a research note on Monday, August 4th. UBS Group lifted their price objective on Gildan Activewear from $56.00 to $70.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, National Bankshares reiterated an "outperform" rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $64.58.

Gildan Activewear Stock Down 0.6%

Shares of GIL traded down $0.33 during midday trading on Monday, hitting $54.60. The company had a trading volume of 622,143 shares, compared to its average volume of 1,696,527. The company's 50-day simple moving average is $52.17 and its 200-day simple moving average is $48.67. 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. Gildan Activewear, Inc. has a 1 year low of $37.16 and a 1 year high of $57.76. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.67 and a current ratio of 3.87.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted 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. The firm had revenue of $918.50 million during the quarter, compared to analysts' expectations of $908.41 million. Gildan Activewear had a return on equity of 34.31% and a net margin of 14.55%.The firm's revenue was up 6.5% compared to the same quarter last year. 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. As a group, sell-side analysts expect that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 21st will be paid a dividend of $0.226 per share. The ex-dividend date is Thursday, August 21st. This represents a $0.90 annualized dividend and a yield of 1.7%. Gildan Activewear's payout ratio is presently 28.57%.

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.