Gildan Activewear, Inc. $GIL Position Reduced by Picton Mahoney Asset Management

Picton Mahoney Asset Management reduced its stake in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 21.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,043,362 shares of the textile maker’s stock after selling 289,433 shares during the quarter. Gildan Activewear makes up about 0.5% of Picton Mahoney Asset Management’s holdings, making the stock its 29th largest position. Picton Mahoney Asset Management’s holdings in Gildan Activewear were worth $60,264,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GIL. Smartleaf Asset Management LLC lifted its position in shares of Gildan Activewear by 161.8% during the second quarter. Smartleaf Asset Management LLC now owns 555 shares of the textile maker’s stock worth $27,000 after purchasing an additional 343 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Gildan Activewear by 240.1% during the third quarter. Farther Finance Advisors LLC now owns 738 shares of the textile maker’s stock valued at $43,000 after buying an additional 521 shares in the last quarter. Assetmark Inc. raised its stake in Gildan Activewear by 5,200.0% during the second quarter. Assetmark Inc. now owns 1,113 shares of the textile maker’s stock valued at $55,000 after buying an additional 1,092 shares in the last quarter. Blue Trust Inc. lifted its holdings in Gildan Activewear by 12.1% during the 3rd quarter. Blue Trust Inc. now owns 2,268 shares of the textile maker’s stock worth $131,000 after buying an additional 245 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Gildan Activewear by 82.3% during the 3rd quarter. Versant Capital Management Inc now owns 2,850 shares of the textile maker’s stock worth $165,000 after buying an additional 1,287 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Wall Street Analysts Forecast Growth

GIL has been the subject of a number of research analyst reports. Scotiabank boosted their price target on Gildan Activewear from $72.00 to $74.00 and gave the company a “sector outperform” rating in a report on Monday. National Bank Financial lifted their price objective on shares of Gildan Activewear from $92.00 to $97.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. UBS Group reiterated a “buy” rating and set a $110.00 target price (up from $80.00) on shares of Gildan Activewear in a research note on Tuesday, December 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gildan Activewear in a report on Monday, December 29th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $79.00 price objective on shares of Gildan Activewear in a research note on Friday, February 20th. Thirteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Gildan Activewear currently has a consensus rating of “Moderate Buy” and an average target price of $80.08.

Gildan Activewear Trading Down 0.5%

Shares of NYSE:GIL opened at $66.87 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 2.11 and a debt-to-equity ratio of 1.16. The company’s 50-day moving average price is $66.82 and its 200 day moving average price is $61.00. The company has a market cap of $12.38 billion, a PE ratio of 25.52 and a beta of 1.05. Gildan Activewear, Inc. has a fifty-two week low of $37.16 and a fifty-two week high of $73.69.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Thursday, February 26th. The textile maker reported $0.96 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.35). The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.01 billion. Gildan Activewear had a net margin of 11.02% and a return on equity of 27.32%. Gildan Activewear’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 EPS. Gildan Activewear has set its FY 2026 guidance at 4.200-4.400 EPS. Sell-side analysts anticipate that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Thursday, March 19th will be paid a dividend of $0.249 per share. This represents a $1.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Thursday, March 19th. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.23. Gildan Activewear’s dividend payout ratio (DPR) is presently 34.35%.

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.