Amundi Trims Stock Holdings in Gildan Activewear, Inc. $GIL

Key Points

• Amundi sold 26,965 shares of Gildan Activewear, reducing its stake by 17.6% to 126,376 shares, valued at approximately $5.28 million.
• Analysts maintain a positive outlook for Gildan, with 11 analysts issuing a "Buy" rating and an average target price of $64.58.
• Gildan Activewear also announced a quarterly dividend of $0.226, which equates to an annualized yield of 1.7%.

Amundi lessened its holdings in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 17.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 126,376 shares of the textile maker's stock after selling 26,965 shares during the period. Amundi owned 0.08% of Gildan Activewear worth $5,281,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cooper Financial Group raised its position in shares of Gildan Activewear by 1.7% in the 1st quarter. Cooper Financial Group now owns 16,537 shares of the textile maker's stock worth $731,000 after acquiring an additional 269 shares in the last quarter. Haven Private LLC boosted its position in shares of Gildan Activewear by 3.4% during the 1st quarter. Haven Private LLC now owns 8,653 shares of the textile maker's stock valued at $383,000 after purchasing an additional 284 shares in the last quarter. TD Private Client Wealth LLC grew its stake in Gildan Activewear by 15.5% during the first quarter. TD Private Client Wealth LLC now owns 3,545 shares of the textile maker's stock worth $157,000 after purchasing an additional 476 shares during the period. Pembroke Management LTD increased its holdings in Gildan Activewear by 0.7% in the first quarter. Pembroke Management LTD now owns 74,092 shares of the textile maker's stock worth $3,276,000 after purchasing an additional 532 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Gildan Activewear by 69.3% in the first quarter. Blue Trust Inc. now owns 1,336 shares of the textile maker's stock valued at $59,000 after buying an additional 547 shares during the period. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Stock Performance

NYSE GIL traded down $0.23 during trading hours on Tuesday, reaching $54.68. 532,501 shares of the company were exchanged, compared to its average volume of 1,256,599. The company has a quick ratio of 1.67, a current ratio of 3.87 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $8.15 billion, a P/E ratio of 17.36, a P/E/G ratio of 1.76 and a beta of 1.17. Gildan Activewear, Inc. has a 1 year low of $37.16 and a 1 year high of $57.76. The business's 50 day simple moving average is $53.28 and its 200-day simple moving average is $48.76.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its earnings results on Thursday, July 31st. The textile maker reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. The firm had revenue of $918.50 million during the quarter, compared to the consensus estimate of $908.41 million. Gildan Activewear had a net margin of 14.55% and a return on equity of 34.31%. The company's revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 EPS. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. On average, equities research analysts expect that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, August 21st were given a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, August 21st. Gildan Activewear's dividend payout ratio (DPR) is currently 28.57%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. BMO Capital Markets reaffirmed an "outperform" rating on shares of Gildan Activewear in a research report on Thursday, August 14th. CIBC lifted their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an "outperformer" rating in a research note on Friday, August 1st. Wall Street Zen downgraded Gildan Activewear from a "buy" rating to a "hold" rating in a research note on Saturday, September 6th. UBS Group boosted their target price on shares of Gildan Activewear from $56.00 to $70.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Gildan Activewear in a research report on Thursday, August 14th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $64.58.

Gildan Activewear Company Profile

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.