1832 Asset Management L.P. Has $5.47 Million Stock Position in Gildan Activewear, Inc. $GIL

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 first quarter, according to its most recent filing with the SEC. 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 about 0.08% of Gildan Activewear worth $5,471,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Cooper Financial Group lifted its stake in Gildan Activewear by 1.7% during the first quarter. Cooper Financial Group now owns 16,537 shares of the textile maker's stock worth $731,000 after purchasing an additional 269 shares during the period. Haven Private LLC raised its stake in shares of Gildan Activewear by 3.4% in the first quarter. Haven Private LLC now owns 8,653 shares of the textile maker's stock valued at $383,000 after acquiring an additional 284 shares during the last quarter. TD Private Client Wealth LLC raised its stake in shares of Gildan Activewear by 15.5% in the first quarter. TD Private Client Wealth LLC now owns 3,545 shares of the textile maker's stock valued at $157,000 after acquiring an additional 476 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Gildan Activewear by 69.3% in the first 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 during the last quarter. Finally, Raymond James Financial Inc. increased its holdings in shares of Gildan Activewear by 0.7% in the first quarter. Raymond James Financial Inc. now owns 80,133 shares of the textile maker's stock valued at $3,543,000 after purchasing an additional 552 shares in the last quarter. Hedge funds and other institutional investors own 82.83% of the company's stock.

Gildan Activewear Stock Performance

Shares of NYSE:GIL traded down $0.33 on Friday, reaching $54.60. 622,143 shares of the company's stock were exchanged, compared to its average volume of 1,704,495. The company has a fifty day moving average of $52.02 and a 200-day moving average of $48.66. Gildan Activewear, Inc. has a twelve month low of $37.16 and a twelve month high of $57.76. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 1.75 and a beta of 1.17. The company has a current ratio of 3.87, a quick ratio of 1.67 and a debt-to-equity ratio of 1.37.

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, topping analysts' consensus estimates 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 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 prior year, the firm posted $0.74 EPS. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. On average, research analysts predict that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have commented on GIL shares. Royal Bank Of Canada lifted their target price 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 target price 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. Canaccord Genuity Group lifted their target price on shares of Gildan Activewear from $60.00 to $67.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Barclays lifted their price target on shares of Gildan Activewear from $51.00 to $56.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, National Bankshares reissued an "outperform" rating on shares of Gildan Activewear in a research report on Thursday, August 14th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.