Rubric Capital Management LP Acquires 1,139,392 Shares of Gildan Activewear, Inc. $GIL

Rubric Capital Management LP increased its holdings in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 444.4% during the first quarter, Holdings Channel reports. The firm owned 1,395,790 shares of the textile maker’s stock after acquiring an additional 1,139,392 shares during the quarter. Gildan Activewear makes up 0.8% of Rubric Capital Management LP’s portfolio, making the stock its 27th biggest holding. Rubric Capital Management LP’s holdings in Gildan Activewear were worth $77,676,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GIL. AQR Capital Management LLC lifted its holdings in shares of Gildan Activewear by 49.3% in the first quarter. AQR Capital Management LLC now owns 13,209 shares of the textile maker’s stock worth $584,000 after buying an additional 4,360 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Gildan Activewear by 40.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,760,253 shares of the textile maker’s stock worth $77,838,000 after acquiring an additional 503,359 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Gildan Activewear by 2.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,585 shares of the textile maker’s stock valued at $8,251,000 after acquiring an additional 4,714 shares in the last quarter. Cetera Investment Advisers grew its stake in Gildan Activewear by 2.1% during the second quarter. Cetera Investment Advisers now owns 12,510 shares of the textile maker’s stock valued at $616,000 after acquiring an additional 259 shares in the last quarter. Finally, Prudential Financial Inc. bought a new stake in Gildan Activewear in the 2nd quarter valued at $317,000. 82.83% of the stock is currently owned by institutional investors.

Gildan Activewear Stock Performance

NYSE GIL opened at $50.64 on Tuesday. The business’s 50 day moving average price is $54.80 and its 200-day moving average price is $59.72. Gildan Activewear, Inc. has a fifty-two week low of $46.00 and a fifty-two week high of $73.69. The company has a market cap of $9.38 billion, a P/E ratio of 29.79 and a beta of 1.11. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.17 and a current ratio of 2.35.

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

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, May 20th were paid a $0.249 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $1.00 annualized dividend and a yield of 2.0%. Gildan Activewear’s dividend payout ratio (DPR) is presently 58.82%.

Wall Street Analysts Forecast Growth

GIL has been the subject of several research reports. Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $77.00 price objective on shares of Gildan Activewear in a report on Friday, May 1st. Scotia reduced their target price on Gildan Activewear from $72.00 to $65.00 and set a “sector outperform” rating on the stock in a report on Wednesday, June 17th. TD Securities reiterated a “buy” rating on shares of Gildan Activewear in a research report on Tuesday, June 16th. Stifel Nicolaus set a $80.00 target price on Gildan Activewear and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, Weiss Ratings lowered Gildan Activewear from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Gildan Activewear presently has a consensus rating of “Moderate Buy” and an average target price of $78.21.

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.