JCIC Asset Management Inc. Makes New Investment in Gildan Activewear, Inc. $GIL

JCIC Asset Management Inc. bought a new position in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 119,814 shares of the textile maker’s stock, valued at approximately $6,920,000. Gildan Activewear makes up about 2.2% of JCIC Asset Management Inc.’s investment portfolio, making the stock its 14th largest position. JCIC Asset Management Inc. owned approximately 0.08% of Gildan Activewear at the end of the most recent reporting period.

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

Analysts Set New Price Targets

GIL has been the subject of several research analyst reports. Zacks Research downgraded Gildan Activewear from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 23rd. TD Securities reissued a “buy” rating and issued a $74.00 target price on shares of Gildan Activewear in a report on Thursday, October 30th. Citigroup cut Gildan Activewear from a “buy” rating to a “neutral” rating and raised their price target for the company from $60.00 to $63.00 in a research report on Monday, October 20th. Desjardins boosted their price objective on shares of Gildan Activewear from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Finally, TD Cowen raised their target price on shares of Gildan Activewear from $67.00 to $73.00 and gave the company a “buy” rating in a report on Monday, October 6th. Twelve investment 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $74.46.

Gildan Activewear Stock Performance

Shares of GIL opened at $63.27 on Monday. The company’s 50 day simple moving average is $60.31 and its 200 day simple moving average is $57.17. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.88 and a current ratio of 2.01. The company has a market capitalization of $11.72 billion, a price-to-earnings ratio of 20.21 and a beta of 1.11. Gildan Activewear, Inc. has a 1 year low of $37.16 and a 1 year high of $65.43.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly 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. The company had revenue of $910.60 million for the quarter, compared to analyst estimates of $925.24 million. Gildan Activewear had a return on equity of 35.53% and a net margin of 14.13%.The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 EPS. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. On average, sell-side analysts predict that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Announces Dividend

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

Gildan Activewear 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.