Polar Asset Management Partners Inc. Makes New $2.08 Million Investment in Gildan Activewear, Inc. $GIL

Polar Asset Management Partners Inc. purchased a new position in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 36,000 shares of the textile maker’s stock, valued at approximately $2,082,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC increased 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 acquiring an additional 343 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in Gildan Activewear by 867.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 513 shares of the textile maker’s stock worth $30,000 after purchasing an additional 460 shares during the period. CIBC Private Wealth Group LLC boosted its stake in Gildan Activewear by 169.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 538 shares of the textile maker’s stock worth $31,000 after purchasing an additional 338 shares during the period. Advisory Services Network LLC bought a new position in Gildan Activewear during the 3rd quarter worth about $36,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Gildan Activewear by 240.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 738 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 521 shares during the period. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GIL has been the topic of a number of research reports. Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $79.00 price target on shares of Gildan Activewear in a report on Friday, February 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Gildan Activewear in a research report on Monday, December 29th. Stifel Nicolaus boosted their target price on Gildan Activewear from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Royal Bank Of Canada reduced their price target on Gildan Activewear from $79.00 to $78.00 and set an “outperform” rating for the company in a research report on Monday, March 2nd. Finally, TD Securities reaffirmed a “buy” rating and set a $77.00 price target on shares of Gildan Activewear in a research note on Tuesday, January 27th. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Gildan Activewear currently has a consensus rating of “Moderate Buy” and an average price target of $80.08.

Gildan Activewear Stock Performance

GIL opened at $56.42 on Friday. The business’s 50-day simple moving average is $66.30 and its 200 day simple moving average is $61.40. Gildan Activewear, Inc. has a 52-week low of $37.16 and a 52-week high of $73.69. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.05 and a current ratio of 2.11. The firm has a market capitalization of $10.45 billion, a PE ratio of 21.54 and a beta of 1.05.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Thursday, February 26th. The textile maker reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.35). Gildan Activewear had a return on equity of 27.32% and a net margin of 11.02%.The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm earned $0.83 EPS. The firm’s revenue for the quarter 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. As a group, sell-side analysts expect that Gildan Activewear, Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Thursday, March 19th will be issued a dividend of $0.249 per share. The ex-dividend date is Thursday, March 19th. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. Gildan Activewear’s dividend payout ratio is presently 37.79%.

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.