Washburn Capital Management Inc. Makes New $202,000 Investment in Gildan Activewear, Inc. $GIL

Washburn Capital Management Inc. purchased a new position in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,100 shares of the textile maker’s stock, valued at approximately $202,000.

Other hedge funds have also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its stake in Gildan Activewear by 24.9% in the first quarter. Envestnet Asset Management Inc. now owns 433,596 shares of the textile maker’s stock worth $19,174,000 after buying an additional 86,464 shares in the last quarter. TD Private Client Wealth LLC raised its stake in Gildan Activewear by 15.5% in the first quarter. TD Private Client Wealth LLC now owns 3,545 shares of the textile maker’s stock worth $157,000 after buying an additional 476 shares in the last quarter. Davidson Investment Advisors raised its stake in Gildan Activewear by 2.4% in the first quarter. Davidson Investment Advisors now owns 448,005 shares of the textile maker’s stock worth $19,811,000 after buying an additional 10,691 shares in the last quarter. Cerity Partners LLC raised its holdings in Gildan Activewear by 56.9% in the first quarter. Cerity Partners LLC now owns 19,750 shares of the textile maker’s stock worth $873,000 after purchasing an additional 7,164 shares in the last quarter. Finally, Genus Capital Management Inc. raised its holdings in Gildan Activewear by 191.7% in the first quarter. Genus Capital Management Inc. now owns 251,308 shares of the textile maker’s stock worth $11,109,000 after purchasing an additional 525,386 shares in the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GIL shares. TD Cowen increased their price objective on Gildan Activewear from $67.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, October 6th. CIBC increased their target price on Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperformer” rating in a research note on Friday, August 1st. Citigroup lowered shares of Gildan Activewear from a “buy” rating to a “neutral” rating and increased their target price for the stock from $60.00 to $63.00 in a report on Monday, October 20th. Wall Street Zen lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Saturday, September 6th. Finally, TD Securities reissued a “buy” rating and issued a $74.00 target price on shares of Gildan Activewear in a report on Thursday. Twelve research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.15.

Gildan Activewear Stock Down 0.5%

NYSE GIL opened at $57.97 on Tuesday. The company has a current ratio of 3.87, a quick ratio of 1.67 and a debt-to-equity ratio of 1.37. The stock has a market cap of $8.64 billion, a PE ratio of 18.52, a P/E/G ratio of 1.93 and a beta of 1.20. The stock’s 50 day moving average is $57.66 and its 200 day moving average is $52.28. Gildan Activewear, Inc. has a 12 month low of $37.16 and a 12 month high of $62.56.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Wednesday, October 29th. The textile maker reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The company had revenue of $910.60 million for 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%. Gildan Activewear’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 EPS. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. Research analysts predict that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be issued a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, November 19th. Gildan Activewear’s dividend payout ratio is 28.75%.

Gildan Activewear Company Profile

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.