Wedge Capital Management L L P NC Acquires Shares of 590,233 Gildan Activewear, Inc. $GIL

Wedge Capital Management L L P NC bought a new position in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) in the fourth quarter, HoldingsChannel.com reports. The fund bought 590,233 shares of the textile maker’s stock, valued at approximately $36,866,000.

A number of other large investors also recently modified their holdings of GIL. Polar Asset Management Partners Inc. acquired a new position in Gildan Activewear during the 3rd quarter worth $2,082,000. Envestnet Asset Management Inc. increased its stake in shares of Gildan Activewear by 9.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 464,925 shares of the textile maker’s stock valued at $26,873,000 after buying an additional 39,072 shares during the period. JCIC Asset Management Inc. bought a new stake in shares of Gildan Activewear during the third quarter worth $6,920,000. Intact Investment Management Inc. raised its position in shares of Gildan Activewear by 1.7% during the third quarter. Intact Investment Management Inc. now owns 1,153,759 shares of the textile maker’s stock worth $66,661,000 after acquiring an additional 19,196 shares during the last quarter. Finally, Oakcliff Capital Partners LP lifted its stake in shares of Gildan Activewear by 11.4% during the second quarter. Oakcliff Capital Partners LP now owns 681,689 shares of the textile maker’s stock valued at $33,566,000 after acquiring an additional 70,000 shares during the period. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on GIL. BMO Capital Markets raised their price target on Gildan Activewear from $70.00 to $78.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Zacks Research downgraded shares of Gildan Activewear from a “hold” rating to a “strong sell” rating in a research report on Monday, February 23rd. Stifel Nicolaus raised their target price on shares of Gildan Activewear from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. National Bank Financial boosted their price target on shares of Gildan Activewear from $92.00 to $97.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Gildan Activewear in a report on Monday, December 29th. Thirteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Gildan Activewear presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.08.

Gildan Activewear Price Performance

Shares of GIL opened at $54.39 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.05 and a debt-to-equity ratio of 1.16. Gildan Activewear, Inc. has a 1 year low of $37.16 and a 1 year high of $73.69. The stock has a market cap of $10.07 billion, a P/E ratio of 20.76 and a beta of 1.05. The stock’s 50-day moving average price is $65.50 and its two-hundred day moving average price is $61.48.

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 analysts’ consensus estimates of $1.31 by ($0.35). The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.01 billion. Gildan Activewear had a net margin of 11.02% and a return on equity of 27.32%. The business’s revenue was up 31.1% compared to the same quarter last year. During the same period last year, the company earned $0.83 earnings per share. Gildan Activewear has set its FY 2026 guidance at 4.200-4.400 EPS. On average, equities analysts predict that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Increases Dividend

The company 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 $0.249 dividend. The ex-dividend date of this dividend is Thursday, March 19th. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 1.8%. Gildan Activewear’s payout ratio is currently 38.17%.

Gildan Activewear Company Profile

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.