Gildan Activewear, Inc. $GIL Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in Gildan Activewear by 6.3%, selling 27,527 shares during the 1st quarter, now holding approximately 0.27% of the company valued at $18.04 million.
• Gildan Activewear's stock has received positive analyst ratings, with Citigroup setting a target price of $60.00 and eleven analysts rating it as a "Buy".
• The company recently reported an EPS of $0.97 for the last quarter, exceeding the consensus estimate, and announced a quarterly dividend of $0.226 to be paid on September 15th.

Charles Schwab Investment Management Inc. lowered its position in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 6.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 408,173 shares of the textile maker's stock after selling 27,527 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.27% of Gildan Activewear worth $18,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its stake in Gildan Activewear by 1.9% in the fourth quarter. Janus Henderson Group PLC now owns 6,970,246 shares of the textile maker's stock worth $327,950,000 after purchasing an additional 128,674 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Gildan Activewear by 2.1% in the first quarter. Mackenzie Financial Corp now owns 2,738,691 shares of the textile maker's stock worth $121,073,000 after purchasing an additional 56,400 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Gildan Activewear by 276.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker's stock worth $83,394,000 after acquiring an additional 1,300,121 shares during the period. Alberta Investment Management Corp increased its position in shares of Gildan Activewear by 28.7% during the first quarter. Alberta Investment Management Corp now owns 1,589,001 shares of the textile maker's stock worth $70,240,000 after acquiring an additional 354,201 shares during the period. Finally, Lazard Asset Management LLC increased its position in shares of Gildan Activewear by 15.7% during the fourth quarter. Lazard Asset Management LLC now owns 1,523,077 shares of the textile maker's stock worth $71,660,000 after acquiring an additional 206,569 shares during the period. Institutional investors own 82.83% of the company's stock.

Wall Street Analysts Forecast Growth

GIL has been the topic of a number of research reports. TD Securities raised their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Cfra Research raised shares of Gildan Activewear to a "hold" rating in a research report on Monday, August 4th. Barclays raised their target price on shares of Gildan Activewear from $51.00 to $56.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. CIBC raised their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an "outperformer" rating in a research report on Friday, August 1st. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Gildan Activewear in a research report on Thursday, August 14th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Gildan Activewear currently has an average rating of "Moderate Buy" and an average price target of $64.58.

Gildan Activewear Stock Down 0.7%

GIL stock traded down $0.40 during trading on Thursday, hitting $54.98. 739,139 shares of the company's stock traded hands, compared to its average volume of 1,741,524. The firm has a market capitalization of $8.21 billion, a P/E ratio of 17.45, a PEG ratio of 1.78 and a beta of 1.17. The business has a fifty day simple moving average of $51.86 and a two-hundred day simple moving average of $48.65. The company has a quick ratio of 1.67, a current ratio of 3.87 and a debt-to-equity ratio of 1.37. Gildan Activewear, Inc. has a 1 year low of $37.16 and a 1 year high of $57.76.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings data 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 company had revenue of $918.50 million for the quarter, compared to analyst estimates of $908.41 million. Gildan Activewear had a net margin of 14.55% and a return on equity of 34.31%. Gildan Activewear's revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $0.74 earnings per share. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. Sell-side analysts anticipate that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, August 21st will be paid a $0.226 dividend. 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 (DPR) is 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.