Norges Bank Acquires Shares of 2,416,076 Gildan Activewear, Inc. $GIL

Norges Bank acquired a new stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,416,076 shares of the textile maker’s stock, valued at approximately $151,018,000. Norges Bank owned 1.30% of Gildan Activewear as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Polar Asset Management Partners Inc. bought a new stake in Gildan Activewear in the third quarter valued at approximately $2,082,000. Wedge Capital Management L L P NC bought a new stake in Gildan Activewear in the fourth quarter valued at approximately $36,866,000. Envestnet Asset Management Inc. raised its stake in Gildan Activewear by 9.2% in the third 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. Public Sector Pension Investment Board raised its stake in Gildan Activewear by 257.9% in the third quarter. Public Sector Pension Investment Board now owns 49,176 shares of the textile maker’s stock valued at $2,842,000 after buying an additional 35,436 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Gildan Activewear by 3.5% during the third quarter. JPMorgan Chase & Co. now owns 615,792 shares of the textile maker’s stock worth $35,593,000 after purchasing an additional 21,078 shares during the period. Institutional investors own 82.83% of the company’s stock.

Analysts Set New Price Targets

GIL has been the topic of a number of recent research reports. Royal Bank Of Canada lowered their target price on Gildan Activewear from $79.00 to $78.00 and set an “outperform” rating on the stock in a research note on Monday, March 2nd. UBS Group reiterated a “buy” rating on shares of Gildan Activewear in a research note on Wednesday. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $77.00 target price on shares of Gildan Activewear in a research note on Friday, May 1st. Weiss Ratings lowered Gildan Activewear from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Finally, Zacks Research upgraded Gildan Activewear from a “strong sell” rating to a “hold” rating in a research note on Friday, May 1st. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Gildan Activewear presently has an average rating of “Moderate Buy” and an average price target of $79.77.

Gildan Activewear Price Performance

Shares of NYSE GIL opened at $58.27 on Thursday. The firm has a market cap of $10.79 billion, a P/E ratio of 34.27 and a beta of 1.08. Gildan Activewear, Inc. has a 1-year low of $46.00 and a 1-year high of $73.69. The company has a current ratio of 2.35, a quick ratio of 1.17 and a debt-to-equity ratio of 1.32. The business’s 50 day moving average is $57.83 and its 200-day moving average is $61.47.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly 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. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.14 billion. Gildan Activewear had a return on equity of 21.38% and a net margin of 6.10%.The firm’s quarterly revenue was up 63.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 earnings per share. Gildan Activewear has set its FY 2026 guidance at 4.200-4.400 EPS. Equities research analysts predict that Gildan Activewear, Inc. will post 4.25 earnings per share for the current year.

Gildan Activewear Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, May 20th will be given a dividend of $0.249 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. Gildan Activewear’s dividend payout ratio is currently 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.