Forsta AP Fonden Invests $1.42 Million in Gildan Activewear, Inc. $GIL

Forsta AP Fonden bought a new stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 28,800 shares of the textile maker’s stock, valued at approximately $1,416,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Maseco LLP purchased a new position in shares of Gildan Activewear in the 2nd quarter worth about $26,000. Twin Tree Management LP acquired a new stake in Gildan Activewear during the 1st quarter worth approximately $29,000. Assetmark Inc. raised its holdings in Gildan Activewear by 5,200.0% in the second quarter. Assetmark Inc. now owns 1,113 shares of the textile maker’s stock valued at $55,000 after buying an additional 1,092 shares during the period. Blue Trust Inc. lifted its position in Gildan Activewear by 51.4% during the second quarter. Blue Trust Inc. now owns 2,023 shares of the textile maker’s stock valued at $100,000 after buying an additional 687 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Gildan Activewear during the first quarter valued at approximately $129,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GIL shares. Cfra Research raised shares of Gildan Activewear to a “hold” rating in a research report on Monday, August 4th. Desjardins increased their price target on Gildan Activewear from $80.00 to $95.00 and gave the company a “buy” rating in a report on Monday, October 27th. Scotiabank set a $66.00 price objective on Gildan Activewear and gave the stock an “outperform” rating in a research note on Thursday, October 30th. UBS Group set a $80.00 target price on Gildan Activewear and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Gildan Activewear in a research note on Tuesday, November 11th. Twelve equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Gildan Activewear presently has an average rating of “Moderate Buy” and a consensus target price of $72.15.

Gildan Activewear Price Performance

GIL stock opened at $58.66 on Monday. The stock’s 50 day moving average is $58.11 and its two-hundred day moving average is $53.19. Gildan Activewear, Inc. has a 52-week low of $37.16 and a 52-week high of $62.56. The company has a market capitalization of $8.74 billion, a PE ratio of 18.74, a P/E/G ratio of 1.93 and a beta of 1.22. 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 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 business had revenue of $910.60 million during 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 35.90%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $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 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be given a $0.226 dividend. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $0.90 annualized dividend and a dividend yield of 1.5%. Gildan Activewear’s payout ratio is presently 28.75%.

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.