Banco Bilbao Vizcaya Argentaria S.A. Lowers Position in Gildan Activewear, Inc. $GIL

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. sold 26,586 shares of Gildan Activewear, Inc., lowering its stake by 47.9% and leaving it with 28,916 shares valued at approximately $1,284,000.
• Several institutional investors significantly increased their stakes in Gildan Activewear, including Millennium Management LLC which raised its stake by 5,996.0%.
• Gildan Activewear reported earnings of $0.97 per share, exceeding analyst expectations, and announced a quarterly dividend of $0.226 per share set to be paid on September 15th.

Banco Bilbao Vizcaya Argentaria S.A. cut its stake in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 47.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,916 shares of the textile maker's stock after selling 26,586 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Gildan Activewear were worth $1,284,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GIL. Olde Wealth Management LLC acquired a new stake in Gildan Activewear in the 1st quarter valued at about $29,000. Versant Capital Management Inc increased its stake in shares of Gildan Activewear by 510.7% during the first quarter. Versant Capital Management Inc now owns 745 shares of the textile maker's stock worth $33,000 after buying an additional 623 shares during the period. GAMMA Investing LLC raised its holdings in Gildan Activewear by 4,323.5% in the first quarter. GAMMA Investing LLC now owns 752 shares of the textile maker's stock valued at $33,000 after acquiring an additional 735 shares in the last quarter. 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 worth $59,000 after acquiring an additional 547 shares during the last quarter. Finally, Natixis grew its holdings in Gildan Activewear by 423.8% during the 4th quarter. Natixis now owns 1,540 shares of the textile maker's stock worth $72,000 after acquiring an additional 1,246 shares in the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

Gildan Activewear Stock Performance

NYSE GIL traded up $0.51 during trading on Wednesday, reaching $55.34. The company's stock had a trading volume of 909,442 shares, compared to its average volume of 774,363. The business's fifty day moving average price is $51.54 and its 200-day moving average price is $48.57. Gildan Activewear, Inc. has a twelve month low of $37.16 and a twelve month high of $57.76. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.67 and a current ratio of 3.87. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of 17.54, a P/E/G ratio of 1.75 and a beta of 1.17.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its earnings results on Thursday, July 31st. The textile maker reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. The business 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 business's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 earnings per share. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. As a group, analysts anticipate that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Thursday, August 21st will be issued a $0.226 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.6%. Gildan Activewear's payout ratio is presently 28.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GIL shares. Wall Street Zen upgraded shares of Gildan Activewear from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Barclays raised their price target on Gildan Activewear from $51.00 to $56.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Royal Bank Of Canada upped their price objective on Gildan Activewear from $61.00 to $68.00 and gave the stock an "outperform" rating in a research report on Thursday, August 14th. Stifel Nicolaus increased their price objective on Gildan Activewear from $65.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Finally, National Bankshares restated an "outperform" rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Gildan Activewear has an average rating of "Moderate Buy" and a consensus target price of $64.58.

About Gildan Activewear

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.