Cardinal Point Capital Management ULC Purchases Shares of 6,090 Gildan Activewear, Inc. $GIL

Cardinal Point Capital Management ULC bought a new position in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) in the second quarter, Holdings Channel reports. The fund bought 6,090 shares of the textile maker’s stock, valued at approximately $300,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Gildan Activewear by 67.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,959,555 shares of the textile maker’s stock worth $131,556,000 after buying an additional 1,189,921 shares in the last quarter. Mackenzie Financial Corp raised its position in Gildan Activewear by 2.1% in the 1st quarter. Mackenzie Financial Corp now owns 2,738,691 shares of the textile maker’s stock valued at $121,073,000 after buying an additional 56,400 shares during the last quarter. Cardinal Capital Management Inc. raised its position in Gildan Activewear by 0.5% in the 2nd quarter. Cardinal Capital Management Inc. now owns 2,728,046 shares of the textile maker’s stock valued at $134,378,000 after buying an additional 14,065 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Gildan Activewear by 40.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,760,253 shares of the textile maker’s stock valued at $77,838,000 after buying an additional 503,359 shares during the last quarter. Finally, Alberta Investment Management Corp raised its position in 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 buying an additional 354,201 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Analyst Upgrades and Downgrades

GIL has been the subject of a number of recent analyst reports. BMO Capital Markets restated an “outperform” rating on shares of Gildan Activewear in a research note on Thursday, August 14th. TD Securities set a $73.00 price objective on Gildan Activewear and gave the company a “buy” rating in a research note on Monday, October 6th. TD Cowen upped their price objective on Gildan Activewear from $67.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, October 6th. National Bankshares reiterated an “outperform” rating on shares of Gildan Activewear in a research note on Thursday. Finally, Wall Street Zen downgraded Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Saturday, September 6th. Twelve investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $66.46.

Gildan Activewear Stock Performance

NYSE:GIL opened at $60.49 on Friday. The business’s 50-day moving average price is $57.16 and its two-hundred day moving average price is $51.26. Gildan Activewear, Inc. has a twelve month low of $37.16 and a twelve month high of $62.23. The stock has a market cap of $9.02 billion, a P/E ratio of 19.20, a PEG ratio of 1.95 and a beta of 1.20. The company has a quick ratio of 1.67, a current ratio of 3.87 and a debt-to-equity ratio of 1.37.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Thursday, July 31st. The textile maker reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. Gildan Activewear had a return on equity of 34.31% and a net margin of 14.55%.The firm had revenue of $918.50 million for the quarter, compared to analysts’ expectations of $908.41 million. During the same quarter last year, the firm posted $0.74 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. As a group, equities analysts predict 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 was paid on Monday, September 15th. Shareholders of record on Thursday, August 21st were issued a $0.226 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.90 annualized dividend and a dividend yield of 1.5%. Gildan Activewear’s dividend payout ratio (DPR) is presently 28.57%.

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.