Gildan Activewear, Inc. $GIL Shares Sold by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. reduced its stake in Gildan Activewear by 8.0%, now holding 123,729 shares valued at $5,471,000 as of the latest filing.
• Analysts have a positive outlook for Gildan Activewear, with 11 buy ratings and an average price target of $64.58, following several upgrades from major financial institutions.
• The company reported better-than-expected earnings for the last quarter, with a net margin of 14.55% and revenue of $918.50 million, up 6.5% year-over-year.

1832 Asset Management L.P. lessened its stake in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 8.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 123,729 shares of the textile maker's stock after selling 10,731 shares during the period. 1832 Asset Management L.P. owned 0.08% of Gildan Activewear worth $5,471,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Olde Wealth Management LLC acquired a new position in shares of Gildan Activewear during the 1st quarter worth about $29,000. Versant Capital Management Inc raised its position in shares of Gildan Activewear by 510.7% during the 1st quarter. Versant Capital Management Inc now owns 745 shares of the textile maker's stock worth $33,000 after purchasing an additional 623 shares during the last quarter. GAMMA Investing LLC grew its stake in Gildan Activewear by 4,323.5% during the 1st quarter. GAMMA Investing LLC now owns 752 shares of the textile maker's stock valued at $33,000 after acquiring an additional 735 shares in the last quarter. Blue Trust Inc. grew its stake in Gildan Activewear by 69.3% during the 1st quarter. Blue Trust Inc. now owns 1,336 shares of the textile maker's stock valued at $59,000 after acquiring an additional 547 shares in the last quarter. Finally, Aquatic Capital Management LLC purchased a new stake in Gildan Activewear during the 4th quarter valued at about $114,000. Institutional investors and hedge funds own 82.83% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GIL shares. Wall Street Zen raised shares of Gildan Activewear from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Royal Bank Of Canada upped their price objective on shares of Gildan Activewear from $61.00 to $68.00 and gave the company an "outperform" rating in a research note on Thursday, August 14th. Barclays upped their price objective on shares of Gildan Activewear from $51.00 to $56.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Cfra Research raised shares of Gildan Activewear to a "hold" rating in a research note on Monday, August 4th. Finally, UBS Group upped their price objective on shares of Gildan Activewear from $56.00 to $70.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $64.58.

Gildan Activewear Stock Up 2.7%

GIL stock opened at $55.68 on Monday. The firm has a market cap of $8.31 billion, a PE ratio of 17.68, a PEG ratio of 1.79 and a beta of 1.17. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.67 and a current ratio of 3.87. The firm's 50 day moving average price is $51.25 and its 200-day moving average price is $48.50. 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 released its quarterly earnings results 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 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%. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.74 EPS. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. On average, equities research analysts anticipate that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Thursday, August 21st will be given 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 payout ratio is presently 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.

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