Connor Clark & Lunn Investment Management Ltd. Cuts Stock Holdings in Gildan Activewear, Inc. $GIL

Connor Clark & Lunn Investment Management Ltd. reduced its stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 14.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,357,293 shares of the textile maker’s stock after selling 222,327 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.91% of Gildan Activewear worth $78,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. JCIC Asset Management Inc. bought a new position in shares of Gildan Activewear in the third quarter worth about $6,920,000. Envestnet Asset Management Inc. grew its stake in shares of Gildan Activewear by 9.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 464,925 shares of the textile maker’s stock valued at $26,873,000 after acquiring an additional 39,072 shares during the period. Northwest & Ethical Investments L.P. grew its stake in shares of Gildan Activewear by 11.8% during the 2nd quarter. Northwest & Ethical Investments L.P. now owns 92,792 shares of the textile maker’s stock valued at $4,561,000 after acquiring an additional 9,774 shares during the period. Intact Investment Management Inc. increased its holdings in Gildan Activewear by 1.7% in the 3rd 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 in the last quarter. Finally, Oakcliff Capital Partners LP raised its stake in Gildan Activewear by 11.4% during the 2nd quarter. Oakcliff Capital Partners LP now owns 681,689 shares of the textile maker’s stock worth $33,566,000 after acquiring an additional 70,000 shares during the period. 82.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $79.00 target price on shares of Gildan Activewear in a report on Friday, February 20th. Royal Bank Of Canada lowered their price objective on Gildan Activewear from $79.00 to $78.00 and set an “outperform” rating on the stock in a research report on Monday, March 2nd. Zacks Research lowered Gildan Activewear from a “hold” rating to a “strong sell” rating in a research note on Monday, February 23rd. Stifel Nicolaus increased their target price on Gildan Activewear from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Finally, BMO Capital Markets lifted their target price on Gildan Activewear from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Gildan Activewear currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.08.

Gildan Activewear Stock Down 0.7%

NYSE GIL opened at $61.71 on Thursday. The company has a quick ratio of 1.05, a current ratio of 2.11 and a debt-to-equity ratio of 1.16. Gildan Activewear, Inc. has a 52 week low of $37.16 and a 52 week high of $73.69. The firm has a market capitalization of $11.43 billion, a price-to-earnings ratio of 23.56 and a beta of 1.05. The company has a fifty day moving average of $66.89 and a two-hundred day moving average of $61.30.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its 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). Gildan Activewear had a net margin of 11.02% and a return on equity of 27.32%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the company posted $0.83 EPS. The company’s quarterly revenue was up 31.1% compared to the same quarter last year. Gildan Activewear has set its FY 2026 guidance at 4.200-4.400 EPS. On average, analysts predict 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 given a dividend of $0.249 per share. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, March 19th. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. Gildan Activewear’s payout ratio is 34.35%.

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.