Magnetar Financial LLC Has $6.12 Million Holdings in Gildan Activewear, Inc. $GIL

Magnetar Financial LLC increased its position in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 583.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 124,179 shares of the textile maker’s stock after buying an additional 106,008 shares during the period. Magnetar Financial LLC’s holdings in Gildan Activewear were worth $6,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale grew its position in shares of Gildan Activewear by 0.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 73,619 shares of the textile maker’s stock valued at $3,612,000 after purchasing an additional 231 shares during the last quarter. Cetera Investment Advisers boosted its stake in Gildan Activewear by 2.1% during the 2nd quarter. Cetera Investment Advisers now owns 12,510 shares of the textile maker’s stock valued at $616,000 after purchasing an additional 259 shares during the period. Cooper Financial Group grew its holdings in Gildan Activewear by 1.7% in the 1st quarter. Cooper Financial Group now owns 16,537 shares of the textile maker’s stock valued at $731,000 after buying an additional 269 shares during the last quarter. Haven Private LLC increased its position in Gildan Activewear by 3.4% in the 1st quarter. Haven Private LLC now owns 8,653 shares of the textile maker’s stock worth $383,000 after buying an additional 284 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Gildan Activewear by 4.6% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,207 shares of the textile maker’s stock worth $552,000 after buying an additional 493 shares during the period. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Price Performance

NYSE:GIL opened at $56.58 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.67 and a current ratio of 3.87. The company has a 50-day moving average of $58.27 and a 200-day moving average of $53.43. 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 $8.43 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.93 and a beta of 1.22.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Wednesday, October 29th. The textile maker reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. Gildan Activewear had a net margin of 14.13% and a return on equity of 35.90%. The business had revenue of $910.60 million for the quarter, compared to analysts’ expectations of $925.24 million. During the same quarter in the previous year, the firm posted $0.85 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. As a group, equities research analysts anticipate 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 issued a $0.226 dividend. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.6%. Gildan Activewear’s dividend payout ratio is presently 28.75%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Scotiabank set a $66.00 price objective on shares of Gildan Activewear and gave the stock an “outperform” rating in a research note on Thursday, October 30th. UBS Group set a $80.00 price target on shares of Gildan Activewear and gave the stock a “buy” rating in a research report on Friday, October 31st. Barclays restated an “overweight” rating and set a $70.00 price objective (up previously from $64.00) on shares of Gildan Activewear in a report on Thursday, October 30th. National Bankshares reiterated an “outperform” rating on shares of Gildan Activewear in a research note on Thursday, October 23rd. Finally, CIBC lifted their target price on Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperformer” rating in a research report on Friday, August 1st. Twelve research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.15.

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.