Gildan Activewear, Inc. $GIL Shares Sold by Lazard Asset Management LLC

Key Points

• Lazard Asset Management cut its Gildan Activewear stake by 72.2% in the first quarter, selling 1.38 million shares and retaining 531,200 shares. Hedge funds and institutional investors collectively own 82.83% of the company.
• Gildan reported quarterly EPS of $0.43, beating estimates of $0.36, while revenue rose 63.8% year over year to $1.17 billion. The company also maintains a quarterly dividend of $0.249 per share, yielding approximately 1.9% annually.
• Analysts remain broadly positive, with 13 Buy ratings and four Holds, an overall “Moderate Buy” consensus, and an average price target of $78.21 versus the reported share price of $51.80.

Lazard Asset Management LLC decreased its holdings in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 72.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 531,200 shares of the textile maker's stock after selling 1,380,968 shares during the quarter. Lazard Asset Management LLC owned about 0.29% of Gildan Activewear worth $29,561,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Cumberland Partners Ltd boosted its stake in Gildan Activewear by 1,307.7% during the first quarter. Cumberland Partners Ltd now owns 325,168 shares of the textile maker's stock worth $18,074,000 after buying an additional 302,068 shares during the period. Cannell & Spears LLC increased its position in shares of Gildan Activewear by 4.7% during the first quarter. Cannell & Spears LLC now owns 1,241,531 shares of the textile maker's stock valued at $69,027,000 after acquiring an additional 55,602 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Gildan Activewear by 0.5% in the first quarter. Public Employees Retirement System of Ohio now owns 91,967 shares of the textile maker's stock valued at $5,113,000 after purchasing an additional 444 shares during the period. M.D. Sass LLC purchased a new stake in shares of Gildan Activewear in the 1st quarter valued at $22,065,000. Finally, Bank of Nova Scotia lifted its stake in Gildan Activewear by 38.1% during the 1st quarter. Bank of Nova Scotia now owns 543,580 shares of the textile maker's stock worth $30,264,000 after acquiring an additional 149,918 shares in the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Gildan Activewear Trading Up 2.2%

GIL opened at $51.80 on Wednesday. The business has a fifty day moving average price of $54.74 and a 200 day moving average price of $59.65. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.35 and a quick ratio of 1.17. Gildan Activewear, Inc. has a 12 month low of $46.00 and a 12 month high of $73.69. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 30.47 and a beta of 1.11.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings results on Thursday, April 30th. The textile maker reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.07. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.14 billion. Gildan Activewear had a return on equity of 21.38% and a net margin of 6.10%.Gildan Activewear's revenue for the quarter was up 63.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 EPS. Gildan Activewear has set its FY 2026 guidance at 4.200-4.400 EPS. Sell-side analysts expect that Gildan Activewear, Inc. will post 4.25 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Wednesday, May 20th were paid a dividend of $0.249 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, May 20th. Gildan Activewear's dividend payout ratio is presently 58.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GIL shares. Stifel Nicolaus set a $80.00 target price on Gildan Activewear and gave the company a "buy" rating in a research report on Monday, July 20th. Weiss Ratings cut shares of Gildan Activewear from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, May 18th. UBS Group reissued a "buy" rating on shares of Gildan Activewear in a research note on Friday, July 17th. Royal Bank Of Canada restated an "outperform" rating on shares of Gildan Activewear in a report on Wednesday, June 17th. Finally, TD Securities reaffirmed a "buy" rating on shares of Gildan Activewear in a research note on Tuesday, June 16th. Thirteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Gildan Activewear currently has an average rating of "Moderate Buy" and an average target price of $78.21.

Gildan Activewear Company Profile

Gildan Activewear Inc NYSE: GIL is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.

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