Gildan Activewear, Inc. $GIL Stake Lessened by Coliseum Capital Management LLC

Key Points

• Coliseum Capital Management LLC has significantly reduced its stake in Gildan Activewear, decreasing its ownership by 59.9% during the first quarter, now holding approximately 1.78 million shares.
• Analysts have recently raised their price targets for Gildan Activewear, with Royal Bank Of Canada increasing its target from $61.00 to $68.00 and maintaining an "outperform" rating.
• Gildan Activewear announced a quarterly dividend of $0.226, yielding about 1.7%, with a payout ratio of 28.57%.

Coliseum Capital Management LLC trimmed its holdings in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 59.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,784,618 shares of the textile maker's stock after selling 2,666,300 shares during the period. Gildan Activewear makes up 6.6% of Coliseum Capital Management LLC's investment portfolio, making the stock its 6th biggest holding. Coliseum Capital Management LLC owned approximately 1.18% of Gildan Activewear worth $78,916,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GIL. Northern Trust Corp grew its position in shares of Gildan Activewear by 37.6% during the 4th quarter. Northern Trust Corp now owns 163,120 shares of the textile maker's stock valued at $7,675,000 after purchasing an additional 44,597 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of Gildan Activewear during the 4th quarter valued at $1,106,000. Jane Street Group LLC grew its position in shares of Gildan Activewear by 50.0% during the 4th quarter. Jane Street Group LLC now owns 92,840 shares of the textile maker's stock valued at $4,368,000 after purchasing an additional 30,928 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Gildan Activewear during the 4th quarter valued at $1,849,000. Finally, Bank of America Corp DE grew its position in shares of Gildan Activewear by 8.1% during the 4th quarter. Bank of America Corp DE now owns 1,502,417 shares of the textile maker's stock valued at $70,689,000 after purchasing an additional 112,894 shares in the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Gildan Activewear Trading Up 0.4%

Shares of NYSE:GIL traded up $0.23 during midday trading on Monday, hitting $55.73. 820,747 shares of the stock traded hands, compared to its average volume of 780,608. The stock has a market capitalization of $8.32 billion, a PE ratio of 17.69, a P/E/G ratio of 1.78 and a beta of 1.17. The business's 50 day moving average is $52.66 and its two-hundred day moving average is $48.70. 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 one year low of $37.16 and a one 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 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm 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 company's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 earnings per share. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. As a group, research analysts forecast that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GIL shares. CIBC boosted their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an "outperformer" rating in a research report on Friday, August 1st. Royal Bank Of Canada lifted their price objective on shares of Gildan Activewear from $61.00 to $68.00 and gave the stock an "outperform" rating in a report on Thursday, August 14th. UBS Group lifted their price objective on shares of Gildan Activewear from $56.00 to $70.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Barclays lifted their price objective on shares of Gildan Activewear from $51.00 to $56.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Gildan Activewear in a report on Thursday, August 14th. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target 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.