Bank of Nova Scotia Buys 65,090 Shares of Gildan Activewear, Inc. $GIL

Bank of Nova Scotia raised its stake in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 14.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 528,681 shares of the textile maker’s stock after buying an additional 65,090 shares during the quarter. Bank of Nova Scotia owned about 0.35% of Gildan Activewear worth $26,043,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of GIL. LPL Financial LLC raised its position in shares of Gildan Activewear by 5.8% in the 1st quarter. LPL Financial LLC now owns 59,670 shares of the textile maker’s stock worth $2,639,000 after purchasing an additional 3,251 shares during the last quarter. US Bancorp DE increased its stake in Gildan Activewear by 44.7% during the 1st quarter. US Bancorp DE now owns 13,729 shares of the textile maker’s stock valued at $607,000 after purchasing an additional 4,239 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in 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 buying an additional 7,778 shares during the last quarter. Invesco Ltd. lifted its stake 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 in the last quarter. Finally, Nuveen LLC bought a new position in shares of Gildan Activewear in the first quarter worth approximately $5,433,000. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Trading Down 1.3%

Gildan Activewear stock opened at $57.04 on Wednesday. Gildan Activewear, Inc. has a 52-week low of $37.16 and a 52-week high of $62.56. The company has a market cap of $8.50 billion, a P/E ratio of 18.22 and a beta of 1.12. The company has a quick ratio of 0.88, a current ratio of 2.01 and a debt-to-equity ratio of 0.94. The business has a 50-day simple moving average of $58.59 and a two-hundred day simple moving average of $54.25.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Wednesday, October 29th. The textile maker reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The company had revenue of $910.60 million for the quarter, compared to the consensus estimate of $925.24 million. Gildan Activewear had a net margin of 14.13% and a return on equity of 35.53%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 earnings per share. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. Analysts predict that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GIL shares. Desjardins raised their price target on shares of Gildan Activewear from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Royal Bank Of Canada boosted their price target on Gildan Activewear from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Zacks Research raised Gildan Activewear from a “hold” rating to a “strong-buy” rating in a report on Monday, November 24th. Wall Street Zen downgraded Gildan Activewear from a “buy” rating to a “hold” rating in a report on Saturday, September 6th. Finally, Stifel Nicolaus set a $75.00 target price on shares of Gildan Activewear and gave the company a “buy” rating in a research note on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.15.

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.