Invesco Ltd. Buys 14,939 Shares of Gildan Activewear, Inc. $GIL

Invesco Ltd. grew its stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 12.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 137,553 shares of the textile maker’s stock after acquiring an additional 14,939 shares during the quarter. Invesco Ltd. owned 0.09% of Gildan Activewear worth $6,083,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its position in shares of Gildan Activewear by 276.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker’s stock valued at $83,394,000 after purchasing an additional 1,300,121 shares during the period. Genus Capital Management Inc. grew its position 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 period. Millennium Management LLC grew its position 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 period. Alberta Investment Management Corp grew its position in shares of Gildan Activewear by 28.7% in the 1st quarter. Alberta Investment Management Corp now owns 1,589,001 shares of the textile maker’s stock valued at $70,240,000 after purchasing an additional 354,201 shares during the period. Finally, Forge First Asset Management Inc. grew its position in shares of 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 purchasing an additional 332,600 shares during the period. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Trading Up 0.3%

NYSE GIL opened at $54.82 on Wednesday. The company has a market cap of $8.18 billion, a PE ratio of 17.40, a PEG ratio of 1.75 and a beta of 1.17. The company has a current ratio of 3.87, a quick ratio of 1.67 and a debt-to-equity ratio of 1.37. Gildan Activewear, Inc. has a 12 month low of $37.16 and a 12 month high of $57.76. The stock has a 50 day moving average of $51.54 and a 200-day moving average of $48.57.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, July 31st. The textile maker reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The company had revenue of $918.50 million during the quarter, compared to the consensus estimate 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 for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 EPS. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. On average, equities research analysts anticipate that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 21st will be paid a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Thursday, August 21st. Gildan Activewear’s dividend payout ratio is 28.57%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Scotiabank reiterated an “outperform” rating on shares of Gildan Activewear in a research report on Thursday, August 14th. BMO Capital Markets reiterated an “outperform” rating on shares of Gildan Activewear in a research report on Thursday, August 14th. Royal Bank Of Canada boosted their price objective on Gildan Activewear from $61.00 to $68.00 and gave the company an “outperform” rating in a research report on Thursday, August 14th. Cfra Research upgraded Gildan Activewear to a “hold” rating in a research report on Monday, August 4th. Finally, Barclays boosted their price objective on Gildan Activewear from $51.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $64.58.

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.