Envestnet Portfolio Solutions Inc. Buys 1,058 Shares of Gildan Activewear, Inc. $GIL

Envestnet Portfolio Solutions Inc. raised its stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 4.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,017 shares of the textile maker’s stock after buying an additional 1,058 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Gildan Activewear were worth $1,133,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GIL. The Manufacturers Life Insurance Company increased its holdings in shares of Gildan Activewear by 67.2% in 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 during the last quarter. Genus Capital Management Inc. increased its holdings in shares of Gildan Activewear by 191.7% in the 1st quarter. Genus Capital Management Inc. now owns 251,308 shares of the textile maker’s stock worth $11,109,000 after buying an additional 525,386 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of 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 worth $77,838,000 after buying an additional 503,359 shares during the last quarter. Alberta Investment Management Corp grew its holdings in shares of Gildan Activewear by 28.7% during 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 purchasing an additional 354,201 shares during the last quarter. Finally, Forge First Asset Management Inc. grew its holdings in shares of Gildan Activewear by 713.7% during the 1st quarter. Forge First Asset Management Inc. now owns 379,200 shares of the textile maker’s stock valued at $16,781,000 after purchasing an additional 332,600 shares during the last quarter. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Trading Up 0.3%

Shares of GIL opened at $60.70 on Friday. The stock has a market capitalization of $9.05 billion, a P/E ratio of 19.27, 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. The firm has a fifty day simple moving average of $56.51 and a two-hundred day simple moving average of $50.63. Gildan Activewear, Inc. has a twelve month low of $37.16 and a twelve month high of $62.23.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced 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. The business had revenue of $918.50 million during the quarter, compared to analysts’ expectations of $908.41 million. Gildan Activewear had a net margin of 14.55% and a return on equity of 34.31%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.74 EPS. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. On average, research analysts anticipate that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Thursday, August 21st were given a $0.226 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, August 21st. Gildan Activewear’s dividend payout ratio (DPR) is currently 28.57%.

Analysts Set New Price Targets

GIL has been the topic of several recent research reports. National Bankshares reaffirmed an “outperform” rating on shares of Gildan Activewear in a report on Thursday, August 14th. UBS Group increased their target price on shares of Gildan Activewear from $56.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. TD Securities set a $73.00 target price on shares of Gildan Activewear and gave the company a “buy” rating in a report on Monday, October 6th. Cfra Research raised shares of Gildan Activewear to a “hold” rating in a report on Monday, August 4th. Finally, Royal Bank Of Canada increased their target price on shares of Gildan Activewear from $61.00 to $68.00 and gave the company an “outperform” rating in a report on Thursday, August 14th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $66.23.

Gildan Activewear Company 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.