Gildan Activewear, Inc. $GIL Shares Sold by EdgePoint Investment Group Inc.

Key Points

• EdgePoint Investment Group Inc. has reduced its stake in Gildan Activewear by 12.8%, selling 219,636 shares and now holding a total of 1,495,165 shares.
• Analysts have raised their price targets on Gildan Activewear, with CIBC setting a target of $60.00 and Canaccord Genuity increasing theirs to $67.00, reflecting positive sentiment on the stock.
• Gildan Activewear announced a quarterly dividend of $0.226, with an annualized yield of 1.7%, highlighting its commitment to returning value to shareholders.

EdgePoint Investment Group Inc. lowered its position in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 12.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,495,165 shares of the textile maker's stock after selling 219,636 shares during the period. Gildan Activewear makes up about 0.5% of EdgePoint Investment Group Inc.'s investment portfolio, making the stock its 27th biggest position. EdgePoint Investment Group Inc. owned approximately 0.99% of Gildan Activewear worth $66,112,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of GIL. Olde Wealth Management LLC acquired a new stake in shares of Gildan Activewear in the 1st quarter worth approximately $29,000. Twin Tree Management LP acquired a new stake in shares of Gildan Activewear in the 1st quarter worth approximately $29,000. Versant Capital Management Inc grew its holdings in shares of Gildan Activewear by 510.7% in the 1st quarter. Versant Capital Management Inc now owns 745 shares of the textile maker's stock worth $33,000 after acquiring an additional 623 shares during the period. GAMMA Investing LLC grew its holdings in shares of Gildan Activewear by 4,323.5% in the 1st quarter. GAMMA Investing LLC now owns 752 shares of the textile maker's stock worth $33,000 after acquiring an additional 735 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Gildan Activewear by 69.3% in the 1st 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 period. Institutional investors and hedge funds own 82.83% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. National Bankshares reaffirmed an "outperform" rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Wall Street Zen lowered Gildan Activewear from a "buy" rating to a "hold" rating in a research note on Saturday. Cfra Research raised Gildan Activewear to a "hold" rating in a research note on Monday, August 4th. Scotiabank reaffirmed an "outperform" rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Finally, UBS Group upped their target price on Gildan Activewear from $56.00 to $70.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $64.58.

Gildan Activewear Trading Up 0.4%

GIL traded up $0.23 during trading on Monday, hitting $55.73. The company's stock had a trading volume of 820,747 shares, compared to its average volume of 780,756. The firm's 50 day moving average price is $52.66 and its 200-day moving average price is $48.70. 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 $8.32 billion, a PE ratio of 17.69, a PEG ratio of 1.78 and a beta of 1.17. Gildan Activewear, Inc. has a twelve month low of $37.16 and a twelve month high of $57.76.

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

Gildan Activewear Announces Dividend

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

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.