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

A number of other hedge funds have also recently made changes to their positions in GIL. Northern Trust Corp lifted its holdings in shares of Gildan Activewear by 37.6% in the 4th quarter. Northern Trust Corp now owns 163,120 shares of the textile maker's stock worth $7,675,000 after acquiring an additional 44,597 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Gildan Activewear in the 4th quarter worth approximately $1,849,000. Baird Financial Group Inc. bought a new stake in shares of Gildan Activewear in the 4th quarter worth approximately $234,000. Deutsche Bank AG lifted its holdings in shares of Gildan Activewear by 5.2% in the 4th quarter. Deutsche Bank AG now owns 221,436 shares of the textile maker's stock worth $10,419,000 after acquiring an additional 10,889 shares during the last quarter. Finally, Gotham Asset Management LLC lifted its holdings in shares of Gildan Activewear by 42.3% in the 4th quarter. Gotham Asset Management LLC now owns 18,532 shares of the textile maker's stock worth $872,000 after acquiring an additional 5,513 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors.

Gildan Activewear Stock Performance

GIL traded down $1.34 during midday trading on Friday, hitting $53.89. 588,007 shares of the company traded hands, compared to its average volume of 1,353,656. 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 firm has a market capitalization of $8.03 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 1.77 and a beta of 1.17. The company's 50-day moving average is $53.12 and its 200 day moving average is $48.75. Gildan Activewear, Inc. has a 52 week low of $37.16 and a 52 week high of $57.76.

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

Gildan Activewear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Thursday, August 21st will be paid a $0.226 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Thursday, August 21st. Gildan Activewear's dividend payout ratio is 28.57%.

Analysts Set New Price Targets

GIL has been the subject of a number of recent research reports. National Bankshares restated an "outperform" rating on shares of Gildan Activewear in a report on Thursday, August 14th. Royal Bank Of Canada boosted their price objective on shares of Gildan Activewear from $61.00 to $68.00 and gave the company an "outperform" rating in a research report on Thursday, August 14th. CIBC boosted their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an "outperformer" rating in a research report on Friday, August 1st. Canaccord Genuity Group upped their target price on shares of Gildan Activewear from $60.00 to $67.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Finally, Citigroup set a $60.00 target price on shares of Gildan Activewear and gave the stock a "buy" rating in a research report on Thursday, August 14th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.