CIBC Asset Management Inc Sells 138,535 Shares of Gildan Activewear, Inc. $GIL

CIBC Asset Management Inc lowered its holdings in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 10.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,195,891 shares of the textile maker’s stock after selling 138,535 shares during the period. CIBC Asset Management Inc owned 0.65% of Gildan Activewear worth $75,346,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Polar Asset Management Partners Inc. bought a new stake in shares of Gildan Activewear during the third quarter worth approximately $2,082,000. Wedge Capital Management L L P NC bought a new stake in shares of Gildan Activewear in the fourth quarter valued at about $36,866,000. Envestnet Asset Management Inc. boosted its position in shares of Gildan Activewear by 9.2% in the third quarter. Envestnet Asset Management Inc. now owns 464,925 shares of the textile maker’s stock valued at $26,873,000 after acquiring an additional 39,072 shares during the period. Public Sector Pension Investment Board boosted its position in shares of Gildan Activewear by 257.9% in the third quarter. Public Sector Pension Investment Board now owns 49,176 shares of the textile maker’s stock valued at $2,842,000 after acquiring an additional 35,436 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Gildan Activewear by 3.5% in the third quarter. JPMorgan Chase & Co. now owns 615,792 shares of the textile maker’s stock valued at $35,593,000 after acquiring an additional 21,078 shares during the period. Institutional investors own 82.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GIL shares. Weiss Ratings cut shares of Gildan Activewear from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Royal Bank Of Canada reduced their target price on shares of Gildan Activewear from $79.00 to $78.00 and set an “outperform” rating for the company in a research report on Monday, March 2nd. Scotiabank cut their price target on Gildan Activewear from $74.00 to $72.00 and set a “sector outperform” rating for the company in a research note on Monday, May 4th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $77.00 price target on shares of Gildan Activewear in a research note on Friday, May 1st. Finally, Stifel Nicolaus boosted their price target on Gildan Activewear from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $79.77.

Gildan Activewear Stock Down 1.2%

GIL stock opened at $58.45 on Wednesday. The stock has a market capitalization of $10.82 billion, a P/E ratio of 34.38 and a beta of 1.08. The company has a current ratio of 2.35, a quick ratio of 1.17 and a debt-to-equity ratio of 1.32. Gildan Activewear, Inc. has a 12 month low of $46.00 and a 12 month high of $73.69. The firm has a 50-day moving average price of $57.76 and a 200-day moving average price of $61.46.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, April 30th. The textile maker reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Gildan Activewear had a net margin of 6.10% and a return on equity of 21.38%. The business’s revenue for the quarter was up 63.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 earnings per share. Gildan Activewear has set its FY 2026 guidance at 4.200-4.400 EPS. As a group, equities research analysts anticipate that Gildan Activewear, Inc. will post 4.25 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 20th will be issued a $0.249 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. Gildan Activewear’s dividend payout ratio is 58.82%.

About Gildan Activewear

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.