Gildan Activewear, Inc. $GIL Stock Holdings Boosted by Forge First Asset Management Inc.

Forge First Asset Management Inc. grew its position in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 20.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 458,300 shares of the textile maker’s stock after buying an additional 79,100 shares during the quarter. Gildan Activewear comprises about 8.2% of Forge First Asset Management Inc.’s investment portfolio, making the stock its 2nd largest position. Forge First Asset Management Inc.’s holdings in Gildan Activewear were worth $22,537,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its holdings in Gildan Activewear by 173.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,259 shares of the textile maker’s stock worth $542,000 after buying an additional 7,778 shares during the period. Aigen Investment Management LP raised its holdings in shares of Gildan Activewear by 243.7% during the first quarter. Aigen Investment Management LP now owns 26,356 shares of the textile maker’s stock valued at $1,165,000 after acquiring an additional 18,688 shares in the last quarter. Invesco Ltd. lifted its stake in Gildan Activewear by 12.2% in the first quarter. Invesco Ltd. now owns 137,553 shares of the textile maker’s stock worth $6,083,000 after acquiring an additional 14,939 shares during the period. Northwest & Ethical Investments L.P. boosted its holdings in Gildan Activewear by 60.3% in the first quarter. Northwest & Ethical Investments L.P. now owns 83,018 shares of the textile maker’s stock valued at $3,672,000 after acquiring an additional 31,245 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in Gildan Activewear by 56.9% in the first quarter. Cerity Partners LLC now owns 19,750 shares of the textile maker’s stock valued at $873,000 after acquiring an additional 7,164 shares in the last quarter. 82.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group raised their target price on shares of Gildan Activewear from $60.00 to $67.00 and gave the stock a “buy” rating in a research report on Thursday, August 14th. Citigroup lowered shares of Gildan Activewear from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $60.00 to $63.00 in a report on Monday, October 20th. TD Cowen lifted their price objective on Gildan Activewear from $67.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Scotiabank set a $66.00 target price on Gildan Activewear and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Barclays restated an “overweight” rating and issued a $70.00 target price (up previously from $64.00) on shares of Gildan Activewear in a research note on Thursday, October 30th. Twelve research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.15.

Gildan Activewear Stock Performance

Shares of GIL opened at $56.79 on Wednesday. The company has a quick ratio of 1.67, a current ratio of 3.87 and a debt-to-equity ratio of 1.37. The stock has a market cap of $8.47 billion, a P/E ratio of 18.14, a P/E/G ratio of 1.93 and a beta of 1.22. The business’s 50 day moving average price is $58.17 and its 200-day moving average price is $53.34. Gildan Activewear, Inc. has a 52 week low of $37.16 and a 52 week high of $62.56.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Wednesday, October 29th. The textile maker reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. Gildan Activewear had a return on equity of 35.90% and a net margin of 14.13%.The company had revenue of $910.60 million during the quarter, compared to analyst estimates of $925.24 million. During the same quarter last year, the company earned $0.85 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. Equities research analysts anticipate 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, December 15th. Investors of record on Wednesday, November 19th will be paid a $0.226 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $0.90 dividend on an annualized basis and a yield of 1.6%. Gildan Activewear’s payout ratio is presently 28.75%.

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.