Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Acquires Shares of 26,530 Gildan Activewear, Inc. $GIL

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,530 shares of the textile maker’s stock, valued at approximately $1,612,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Maseco LLP purchased a new position in Gildan Activewear during the 2nd quarter valued at about $26,000. Smartleaf Asset Management LLC increased its stake in shares of Gildan Activewear by 161.8% during the second quarter. Smartleaf Asset Management LLC now owns 555 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 343 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Gildan Activewear by 240.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 738 shares of the textile maker’s stock worth $43,000 after purchasing an additional 521 shares in the last quarter. Assetmark Inc. boosted its position in shares of Gildan Activewear by 5,200.0% in the 2nd quarter. Assetmark Inc. now owns 1,113 shares of the textile maker’s stock worth $55,000 after purchasing an additional 1,092 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Gildan Activewear by 51.4% in the 2nd quarter. Blue Trust Inc. now owns 2,023 shares of the textile maker’s stock worth $100,000 after buying an additional 687 shares during the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Stock Down 0.1%

Shares of GIL stock opened at $63.46 on Monday. The company’s fifty day moving average price is $59.69 and its 200-day moving average price is $56.68. Gildan Activewear, Inc. has a one year low of $37.16 and a one year high of $65.43. The company has a market capitalization of $11.75 billion, a price-to-earnings ratio of 20.28 and a beta of 1.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.01 and a quick ratio of 0.88.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued 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. Gildan Activewear had a net margin of 14.13% and a return on equity of 35.53%. The firm had revenue of $910.60 million during the quarter, compared to analyst estimates of $925.24 million. During the same quarter in the prior year, the business earned $0.85 earnings per share. Gildan Activewear’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. Sell-side analysts expect that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th were paid a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, November 19th. Gildan Activewear’s dividend payout ratio (DPR) is presently 28.75%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on GIL shares. Weiss Ratings reissued a “buy (b)” rating on shares of Gildan Activewear in a report on Monday, December 29th. National Bankshares reiterated an “outperform” rating on shares of Gildan Activewear in a research note on Thursday, October 23rd. TD Cowen raised their price objective on shares of Gildan Activewear from $67.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Scotiabank set a $66.00 target price on shares of Gildan Activewear and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, Zacks Research cut shares of Gildan Activewear from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 23rd. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Gildan Activewear presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.46.

Gildan Activewear Company Profile

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.