Bank of New York Mellon Corp Boosts Holdings in Gildan Activewear, Inc. $GIL

Bank of New York Mellon Corp grew its position in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 2.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 254,002 shares of the textile maker’s stock after purchasing an additional 6,591 shares during the quarter. Bank of New York Mellon Corp owned about 0.17% of Gildan Activewear worth $12,507,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. 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. Arkadios Wealth Advisors raised its stake in Gildan Activewear by 33.3% in the second quarter. Arkadios Wealth Advisors now owns 8,442 shares of the textile maker’s stock valued at $416,000 after buying an additional 2,107 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Gildan Activewear by 4.6% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,207 shares of the textile maker’s stock valued at $552,000 after buying an additional 493 shares during the last quarter. Cardinal Point Capital Management ULC acquired a new stake in Gildan Activewear in the second quarter worth about $300,000. Finally, Legacy Wealth Asset Management LLC grew its stake in shares of Gildan Activewear by 18.8% during the second quarter. Legacy Wealth Asset Management LLC now owns 37,148 shares of the textile maker’s stock worth $1,829,000 after acquiring an additional 5,885 shares during the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

Gildan Activewear Stock Performance

Shares of NYSE GIL opened at $56.79 on Wednesday. The company has a 50 day simple moving average of $58.17 and a two-hundred day simple moving average of $53.34. The stock has a market cap of $8.47 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 1.93 and a beta of 1.22. 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 $62.56.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data 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 35.90%. The firm had revenue of $910.60 million for 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. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. As a group, analysts predict that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be paid a dividend of $0.226 per share. The ex-dividend date is Wednesday, November 19th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.6%. Gildan Activewear’s dividend payout ratio (DPR) is presently 28.75%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Cfra Research upgraded shares of Gildan Activewear to a “hold” rating in a report on Monday, August 4th. TD Securities reissued a “buy” rating and set a $74.00 target price on shares of Gildan Activewear in a research report on Thursday, October 30th. Scotiabank set a $66.00 price target on shares of Gildan Activewear and gave the company an “outperform” rating in a research note on Thursday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Gildan Activewear in a report on Thursday, August 14th. Finally, Stifel Nicolaus set a $75.00 price objective on shares of Gildan Activewear and gave the company a “buy” rating in a report on Friday, September 19th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.15.

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.