Gildan Activewear, Inc. $GIL Shares Bought by NewGen Asset Management Ltd

NewGen Asset Management Ltd increased its position in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 7.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 202,598 shares of the textile maker’s stock after buying an additional 14,200 shares during the period. Gildan Activewear makes up 4.4% of NewGen Asset Management Ltd’s holdings, making the stock its 6th biggest holding. NewGen Asset Management Ltd’s holdings in Gildan Activewear were worth $11,275,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Islay Capital Management LLC bought a new stake in Gildan Activewear in the fourth quarter worth approximately $25,000. Webster Bank N. A. bought a new position in shares of Gildan Activewear during the 4th quarter worth approximately $25,000. Larson Financial Group LLC boosted its holdings in shares of Gildan Activewear by 3,516.7% during the 4th quarter. Larson Financial Group LLC now owns 434 shares of the textile maker’s stock worth $27,000 after buying an additional 422 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Gildan Activewear by 14,833.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 448 shares of the textile maker’s stock worth $28,000 after buying an additional 445 shares during the period. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Gildan Activewear during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. TD Securities reiterated a “buy” rating on shares of Gildan Activewear in a research report on Tuesday, June 16th. UBS Group restated a “buy” rating on shares of Gildan Activewear in a report on Friday. Scotia decreased their price target on shares of Gildan Activewear from $72.00 to $65.00 and set a “sector outperform” rating for the company in a research note on Wednesday, June 17th. Weiss Ratings lowered shares of Gildan Activewear from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th. Finally, Zacks Research raised shares of Gildan Activewear from a “strong sell” rating to a “hold” rating in a research report on Friday, May 1st. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $78.21.

Gildan Activewear Trading Up 0.9%

NYSE GIL opened at $54.59 on Tuesday. The company has a market cap of $10.11 billion, a price-to-earnings ratio of 32.11 and a beta of 1.11. Gildan Activewear, Inc. has a 52 week low of $46.00 and a 52 week high of $73.69. The business has a 50 day moving average price of $55.32 and a 200-day moving average price of $60.14. The company has a quick ratio of 1.17, a current ratio of 2.35 and a debt-to-equity ratio of 1.32.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Thursday, April 30th. The textile maker reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. Gildan Activewear had a return on equity of 21.38% and a net margin of 6.10%.The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the business earned $0.59 EPS. Gildan Activewear’s quarterly 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. As a group, equities analysts expect that Gildan Activewear, Inc. will post 4.25 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 20th were given a dividend of $0.249 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. Gildan Activewear’s payout ratio is presently 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.