Gildan Activewear Inc. (NYSE:GIL) Stake Boosted by Mn Services Vermogensbeheer B.V.

Posted by on Jul 14th, 2023

Mn Services Vermogensbeheer B.V. raised its position in shares of Gildan Activewear Inc. (NYSE:GIL – Free Report) (TSE:GIL) by 3.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,573 shares of the textile maker’s stock after buying an additional 2,800 shares during the quarter. Mn Services Vermogensbeheer B.V. owned 0.05% of Gildan Activewear worth $3,104,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cooke & Bieler LP raised its holdings in shares of Gildan Activewear by 2.8% during the fourth quarter. Cooke & Bieler LP now owns 9,864,444 shares of the textile maker’s stock valued at $270,286,000 after acquiring an additional 271,002 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Gildan Activewear by 0.4% in the third quarter. Vanguard Group Inc. now owns 6,349,722 shares of the textile maker’s stock valued at $179,507,000 after purchasing an additional 22,957 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Gildan Activewear by 17.5% in the fourth quarter. Principal Financial Group Inc. now owns 4,001,621 shares of the textile maker’s stock worth $109,510,000 after buying an additional 594,688 shares during the period. Cardinal Capital Management Inc. grew its holdings in shares of Gildan Activewear by 3.1% during the first quarter. Cardinal Capital Management Inc. now owns 2,693,550 shares of the textile maker’s stock valued at $89,399,000 after buying an additional 81,462 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in Gildan Activewear by 39.3% during the first quarter. Mackenzie Financial Corp now owns 2,654,341 shares of the textile maker’s stock valued at $88,177,000 after buying an additional 749,418 shares during the period. 77.38% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Price Performance

Shares of GIL opened at $31.93 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.94 and a current ratio of 3.08. The firm has a market cap of $5.64 billion, a PE ratio of 11.83, a PEG ratio of 1.19 and a beta of 1.28. Gildan Activewear Inc. has a twelve month low of $25.67 and a twelve month high of $34.33. The firm’s 50 day moving average price is $30.26 and its 200 day moving average price is $30.67.

Gildan Activewear (NYSE:GIL – Get Free Report) (TSE:GIL) last released its quarterly earnings results on Wednesday, May 3rd. The textile maker reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.06). The business had revenue of $702.90 million for the quarter, compared to the consensus estimate of $701.95 million. Gildan Activewear had a net margin of 15.55% and a return on equity of 27.29%. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 EPS. As a group, research analysts expect that Gildan Activewear Inc. will post 3.04 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 19th. Stockholders of record on Wednesday, May 24th were paid a dividend of $0.186 per share. This represents a $0.74 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Tuesday, May 23rd. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.14. Gildan Activewear’s dividend payout ratio is 27.41%.

Analyst Ratings Changes

A number of brokerages have commented on GIL. TheStreet upgraded Gildan Activewear from a “c+” rating to a “b-” rating in a research report on Thursday, March 16th. StockNews.com raised shares of Gildan Activewear from a “sell” rating to a “hold” rating in a research report on Friday, July 7th. Stifel Nicolaus started coverage on shares of Gildan Activewear in a research report on Monday, May 1st. They issued a “buy” rating and a $38.00 target price for the company. Finally, UBS Group lifted their target price on shares of Gildan Activewear from $41.00 to $42.00 in a research note on Thursday, May 4th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Gildan Activewear currently has a consensus rating of “Moderate Buy” and an average price target of $40.58.

Gildan Activewear Company Profile

(Free Report)

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, Comfort Colors, American Apparel, Alstyle, and GoldToe brands.

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Institutional Ownership by Quarter for Gildan Activewear (NYSE:GIL)

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