Geode Capital Management LLC Buys 392,514 Shares of Gildan Activewear, Inc. $GIL

Geode Capital Management LLC increased its stake in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 41.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,334,768 shares of the textile maker’s stock after buying an additional 392,514 shares during the quarter. Geode Capital Management LLC owned about 0.89% of Gildan Activewear worth $69,819,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GIL. PNC Financial Services Group Inc. increased its position in shares of Gildan Activewear by 173.6% in the first quarter. PNC Financial Services Group Inc. now owns 12,259 shares of the textile maker’s stock worth $542,000 after purchasing an additional 7,778 shares during the period. Aigen Investment Management LP grew its stake in Gildan Activewear by 243.7% during the first quarter. Aigen Investment Management LP now owns 26,356 shares of the textile maker’s stock worth $1,165,000 after buying an additional 18,688 shares in the last quarter. Invesco Ltd. grew its stake in Gildan Activewear by 12.2% during the first quarter. Invesco Ltd. now owns 137,553 shares of the textile maker’s stock worth $6,083,000 after buying an additional 14,939 shares in the last quarter. Forge First Asset Management Inc. increased its holdings in Gildan Activewear by 713.7% in the 1st 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 during the period. Finally, Northwest & Ethical Investments L.P. raised its position in shares of Gildan Activewear by 60.3% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 83,018 shares of the textile maker’s stock valued at $3,672,000 after buying an additional 31,245 shares in the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GIL shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Gildan Activewear in a research report on Monday, November 17th. TD Securities reaffirmed a “buy” rating and issued a $74.00 target price on shares of Gildan Activewear in a report on Thursday, October 30th. Canaccord Genuity Group lifted their price target on Gildan Activewear from $60.00 to $67.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. Scotiabank set a $66.00 price objective on Gildan Activewear and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, UBS Group set a $80.00 price objective on Gildan Activewear and gave the company a “buy” rating in a research note on Friday, October 31st. Twelve research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.15.

Gildan Activewear Trading Up 1.4%

NYSE GIL opened at $56.58 on Friday. The company has a market cap of $8.43 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22. Gildan Activewear, Inc. has a twelve month low of $37.16 and a twelve month high of $62.56. 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 business’s fifty day moving average is $58.27 and its 200 day moving average is $53.48.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Wednesday, October 29th. The textile maker reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $910.60 million for the quarter, compared to analyst estimates of $925.24 million. Gildan Activewear had a net margin of 14.13% and a return on equity of 35.90%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 EPS. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. As a group, sell-side analysts expect that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be given a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, November 19th. Gildan Activewear’s dividend payout ratio (DPR) is currently 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.