Gildan Activewear, Inc. $GIL Position Increased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its position in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 4.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,207 shares of the textile maker’s stock after acquiring an additional 493 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Gildan Activewear were worth $552,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in Gildan Activewear in the 1st quarter worth approximately $1,072,000. PNC Financial Services Group Inc. lifted its holdings 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 valued at $542,000 after purchasing an additional 7,778 shares in the last quarter. Aigen Investment Management LP boosted its position in shares of Gildan Activewear by 243.7% in 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 during the period. Invesco Ltd. boosted its position in shares of 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 buying an additional 14,939 shares during the period. Finally, Forge First Asset Management Inc. grew its holdings in shares of Gildan Activewear by 713.7% during the first 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 in the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Wall Street Analyst Weigh In

GIL has been the subject of several research analyst reports. Royal Bank Of Canada increased their price objective on Gildan Activewear from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Desjardins upped their target price on Gildan Activewear from $80.00 to $95.00 and gave the company a “buy” rating in a report on Monday, October 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Gildan Activewear in a research report on Tuesday, October 14th. Citigroup cut shares of Gildan Activewear from a “buy” rating to a “neutral” rating and raised their price target for the stock from $60.00 to $63.00 in a report on Monday, October 20th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $72.15.

Gildan Activewear Price Performance

NYSE GIL opened at $58.29 on Friday. 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 capitalization of $8.69 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 1.93 and a beta of 1.20. Gildan Activewear, Inc. has a 12-month low of $37.16 and a 12-month high of $62.56. The company has a 50 day moving average price of $57.59 and a two-hundred day moving average price of $52.00.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Wednesday, October 29th. The textile maker reported $1.00 EPS for the quarter, topping the consensus estimate of $0.98 by $0.02. The company 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%. Gildan Activewear’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 EPS. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. As a group, equities analysts predict that Gildan Activewear, Inc. will post 3.48 earnings per share 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. Shareholders of record on Wednesday, November 19th will be issued a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a yield of 1.6%. The ex-dividend date is Wednesday, November 19th. Gildan Activewear’s dividend payout ratio (DPR) is 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.