Charles Schwab Investment Management Inc. Cuts Stake in Gildan Activewear, Inc. $GIL

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. trimmed its holdings in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 6.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 408,173 shares of the textile maker's stock after selling 27,527 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.27% of Gildan Activewear worth $18,043,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in Gildan Activewear during the fourth quarter worth $3,744,000. First Trust Advisors LP acquired a new stake in shares of Gildan Activewear in the fourth quarter valued at about $4,287,000. Dimensional Fund Advisors LP lifted its stake in Gildan Activewear by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,173,129 shares of the textile maker's stock worth $55,191,000 after purchasing an additional 7,345 shares in the last quarter. Natixis increased its holdings in shares of 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 buying an additional 1,246 shares during the last quarter. Finally, MML Investors Services LLC raised its position in shares of Gildan Activewear by 3.2% during the 4th quarter. MML Investors Services LLC now owns 24,661 shares of the textile maker's stock valued at $1,160,000 after buying an additional 757 shares during the period. 82.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GIL shares. CIBC raised their target price on Gildan Activewear from $56.00 to $60.00 and gave the stock an "outperformer" rating in a research note on Friday, August 1st. Wall Street Zen upgraded shares of Gildan Activewear from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. National Bankshares reiterated an "outperform" rating on shares of Gildan Activewear in a research report on Thursday, August 14th. Cfra Research upgraded shares of Gildan Activewear to a "hold" rating in a report on Monday, August 4th. Finally, Citigroup set a $60.00 price target on shares of Gildan Activewear and gave the stock a "buy" rating in a report on Thursday, August 14th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $64.58.

Gildan Activewear Stock Performance

Shares of GIL stock traded up $0.10 during mid-day trading on Wednesday, hitting $54.93. 681,405 shares of the stock were exchanged, compared to its average volume of 773,511. The stock's fifty day simple moving average is $51.54 and its two-hundred day simple moving average is $48.57. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.67 and a current ratio of 3.87. Gildan Activewear, Inc. has a 12-month low of $37.16 and a 12-month high of $57.76. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of 17.43, 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. Gildan Activewear had a return on equity of 34.31% and a net margin of 14.55%.The firm had revenue of $918.50 million during the quarter, compared to analysts' expectations of $908.41 million. During the same period in the prior year, the firm earned $0.74 EPS. The business's 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 forecast that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Thursday, August 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.6%. Gildan Activewear's payout ratio is currently 28.57%.

Gildan Activewear 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.