Simcoe Capital Management LLC Cuts Stake in Gildan Activewear, Inc. $GIL

Key Points

• Simcoe Capital Management LLC has reduced its stake in Gildan Activewear by 8.7%, making the company its second-largest holding, constituting approximately 17.3% of their investment portfolio.
• The company's recent earnings report showed a net margin of 14.55% and revenue growth of 6.5% year-over-year, with earnings per share exceeding analyst expectations.
• Gildan Activewear recently announced a quarterly dividend of $0.226 per share, representing an annual yield of 1.6%, with the ex-dividend date set for August 21st.

Simcoe Capital Management LLC lowered its position in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 8.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,180,600 shares of the textile maker's stock after selling 207,265 shares during the quarter. Gildan Activewear makes up approximately 17.3% of Simcoe Capital Management LLC's holdings, making the stock its 2nd biggest holding. Simcoe Capital Management LLC owned approximately 1.44% of Gildan Activewear worth $96,426,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. First Trust Advisors LP acquired a new stake in shares of Gildan Activewear in the fourth quarter worth approximately $4,287,000. Dimensional Fund Advisors LP increased its holdings in shares of Gildan Activewear by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,173,129 shares of the textile maker's stock worth $55,191,000 after buying an additional 7,345 shares during the last quarter. MML Investors Services LLC increased its holdings 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 worth $1,160,000 after buying an additional 757 shares during the last quarter. Stifel Financial Corp raised its position in shares of Gildan Activewear by 2.3% in the 4th quarter. Stifel Financial Corp now owns 94,164 shares of the textile maker's stock worth $4,430,000 after buying an additional 2,110 shares during the period. Finally, Aquatic Capital Management LLC acquired a new position in Gildan Activewear in the fourth quarter valued at $114,000. Hedge funds and other institutional investors own 82.83% of the company's stock.

Gildan Activewear Stock Down 0.6%

Shares of NYSE GIL traded down $0.33 during trading on Monday, reaching $54.60. 622,143 shares of the stock were exchanged, compared to its average volume of 1,696,527. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 1.75 and a beta of 1.17. The business's 50-day moving average price is $52.17 and its 200 day moving average price is $48.67. 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 twelve month low of $37.16 and a twelve month high of $57.76.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its quarterly earnings results on Thursday, July 31st. The textile maker reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. The firm had revenue of $918.50 million for 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 firm's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 EPS. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. As a group, equities analysts forecast that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, August 21st will be given a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, August 21st. Gildan Activewear's dividend payout ratio is presently 28.57%.

Analyst Ratings Changes

GIL has been the topic of a number of research reports. BMO Capital Markets restated an "outperform" rating on shares of Gildan Activewear in a report on Thursday, August 14th. Stifel Nicolaus raised their price target on shares of Gildan Activewear from $65.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Royal Bank Of Canada lifted their price target on shares of Gildan Activewear from $61.00 to $68.00 and gave the company an "outperform" rating in a research report on Thursday, August 14th. UBS Group increased their price objective on shares of Gildan Activewear from $56.00 to $70.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Finally, National Bankshares reissued an "outperform" rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $64.58.

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.