Cetera Investment Advisers Sells 12,570 Shares of Gildan Activewear, Inc. $GIL

Key Points

• Cetera Investment Advisers has reduced its stake in Gildan Activewear by 50.6%, selling over 12,000 shares and retaining 12,251 shares valued at approximately $542,000.
• Gildan Activewear saw various institutional investors make significant changes to their positions, with some, like **Shell Asset Management Co.**, increasing their stake by 250% during the fourth quarter.
• Gildan's stock price has been upgraded by several analysts, with Barclays and UBS raising their price targets to $56.00 and $70.00, respectively, reflecting a current consensus target price of $64.58.

Cetera Investment Advisers lessened its holdings in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 50.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,251 shares of the textile maker's stock after selling 12,570 shares during the quarter. Cetera Investment Advisers' holdings in Gildan Activewear were worth $542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Avantax Advisory Services Inc. boosted its stake in shares of Gildan Activewear by 114.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 61,994 shares of the textile maker's stock worth $2,741,000 after acquiring an additional 33,045 shares during the last quarter. Lincluden Management Ltd. boosted its stake in shares of Gildan Activewear by 4.6% during the 1st quarter. Lincluden Management Ltd. now owns 63,702 shares of the textile maker's stock worth $2,817,000 after acquiring an additional 2,829 shares during the last quarter. Homestead Advisers Corp boosted its stake in shares of Gildan Activewear by 15.2% during the 1st quarter. Homestead Advisers Corp now owns 118,300 shares of the textile maker's stock worth $5,231,000 after acquiring an additional 15,600 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Gildan Activewear during the 1st quarter worth $693,000. Finally, Allianz Asset Management GmbH boosted its stake in shares of Gildan Activewear by 37.5% during the 1st quarter. Allianz Asset Management GmbH now owns 28,479 shares of the textile maker's stock worth $1,259,000 after acquiring an additional 7,763 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GIL. Stifel Nicolaus lifted their target price on shares of Gildan Activewear from $65.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. Citigroup set a $60.00 target price on shares of Gildan Activewear and gave the company a "buy" rating in a research note on Thursday, August 14th. Cfra Research upgraded shares of Gildan Activewear to a "hold" rating in a research note on Monday, August 4th. BMO Capital Markets restated an "outperform" rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Finally, Wall Street Zen upgraded shares of Gildan Activewear from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $64.58.

Gildan Activewear Price Performance

Shares of Gildan Activewear stock traded down $1.4670 during trading hours on Wednesday, reaching $55.1230. The company's stock had a trading volume of 6,917,523 shares, compared to its average volume of 760,875. The firm has a 50 day moving average price of $50.80 and a 200-day moving average price of $48.46. Gildan Activewear, Inc. has a one year low of $37.16 and a one year high of $57.76. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.87 and a quick ratio of 1.67. The stock has a market cap of $8.23 billion, a P/E ratio of 17.50, a P/E/G ratio of 1.81 and a beta of 1.17.

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 for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Gildan Activewear had a net margin of 14.55% and a return on equity of 34.31%. The firm had revenue of $918.50 million for the quarter, compared to the consensus estimate of $908.41 million. During the same period in the previous year, the firm posted $0.74 EPS. The business's quarterly revenue was up 6.5% on a year-over-year basis. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. On average, analysts predict that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Announces Dividend

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

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.