Gildan Activewear, Inc. $GIL Shares Sold by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC significantly reduced its stake in Gildan Activewear by 64.7%, selling 33,347 shares and retaining 18,171 shares valued at $804,000 as of the last quarter.
• Analysts remain positive on Gildan Activewear, with multiple upgrades, a consensus price target increase to around $64.58, and an overall rating of "Moderate Buy."
• The company announced a quarterly dividend of $0.226 per share, reflecting a 1.7% yield, set to be paid on September 15th.

Magnetar Financial LLC reduced its position in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 64.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,171 shares of the textile maker's stock after selling 33,347 shares during the period. Magnetar Financial LLC's holdings in Gildan Activewear were worth $804,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Olde Wealth Management LLC acquired a new position in Gildan Activewear during the first quarter worth about $29,000. Versant Capital Management Inc increased its stake in Gildan Activewear by 510.7% in 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 in the last quarter. GAMMA Investing LLC increased its stake in Gildan Activewear by 4,323.5% in the 1st quarter. GAMMA Investing LLC now owns 752 shares of the textile maker's stock worth $33,000 after purchasing an additional 735 shares in the last quarter. Blue Trust Inc. increased its stake in Gildan Activewear by 69.3% in the 1st quarter. Blue Trust Inc. now owns 1,336 shares of the textile maker's stock worth $59,000 after purchasing an additional 547 shares in the last quarter. Finally, Aquatic Capital Management LLC purchased a new position in Gildan Activewear in the 4th quarter worth about $114,000. 82.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GIL shares. Citigroup set a $60.00 price target on Gildan Activewear and gave the stock a "buy" rating in a research note on Thursday, August 14th. UBS Group lifted their price target on Gildan Activewear from $56.00 to $70.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Scotiabank reissued an "outperform" rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Stifel Nicolaus lifted their price target on Gildan Activewear from $65.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $64.58.

Gildan Activewear Trading Down 0.6%

NYSE:GIL opened at $54.60 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.87 and a quick ratio of 1.67. Gildan Activewear, Inc. has a fifty-two week low of $37.16 and a fifty-two week high of $57.76. The stock's 50-day moving average is $52.02 and its two-hundred day moving average is $48.66. The stock has a market cap of $8.15 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 1.75 and a beta of 1.17.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its earnings results on Thursday, July 31st. The textile maker reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. Gildan Activewear had a return on equity of 34.31% and a net margin of 14.55%.The company had revenue of $918.50 million for the quarter, compared to analysts' expectations of $908.41 million. During the same quarter in the previous year, the business posted $0.74 EPS. The business's revenue for the quarter was up 6.5% on a year-over-year basis. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. As a group, equities research analysts forecast that Gildan Activewear, Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.