Gildan Activewear, Inc. $GIL Shares Sold by Browning West LP

Key Points

• Browning West LP reduced its stake in Gildan Activewear by 3.1%, now holding approximately 5.46 million shares, which accounts for about 18.8% of its portfolio.
• Several institutions increased their holdings in Gildan, with Versant Capital Management and GAMMA Investing reporting substantial increases of 510.7% and 4,323.5% respectively during the first quarter.
• Gildan Activewear's stock received several positive analyst ratings, with a consensus of "Moderate Buy" and an average price target of $64.58.

Browning West LP lessened its stake in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,459,284 shares of the textile maker's stock after selling 173,597 shares during the quarter. Gildan Activewear makes up about 18.8% of Browning West LP's portfolio, making the stock its 3rd biggest position. Browning West LP owned approximately 3.60% of Gildan Activewear worth $241,410,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its position in shares of Gildan Activewear by 67.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,959,555 shares of the textile maker's stock worth $131,556,000 after purchasing an additional 1,189,921 shares in the last quarter. Genus Capital Management Inc. raised its stake in Gildan Activewear by 191.7% in the first quarter. Genus Capital Management Inc. now owns 251,308 shares of the textile maker's stock valued at $11,109,000 after buying an additional 525,386 shares during the last quarter. Millennium Management LLC raised its stake in Gildan Activewear by 5,996.0% in the fourth quarter. Millennium Management LLC now owns 466,342 shares of the textile maker's stock valued at $21,935,000 after buying an additional 458,692 shares during the last quarter. Alberta Investment Management Corp raised its stake in Gildan Activewear by 28.7% in the first quarter. Alberta Investment Management Corp now owns 1,589,001 shares of the textile maker's stock valued at $70,240,000 after buying an additional 354,201 shares during the last quarter. Finally, Forge First Asset Management Inc. raised its stake in Gildan Activewear by 713.7% in the first quarter. Forge First Asset Management Inc. now owns 379,200 shares of the textile maker's stock valued at $16,781,000 after buying an additional 332,600 shares during the last quarter. Institutional investors own 82.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on GIL. National Bankshares reiterated an "outperform" rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Stifel Nicolaus increased their price target on Gildan Activewear from $65.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. BMO Capital Markets reiterated an "outperform" rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Citigroup set a $60.00 price target on Gildan Activewear and gave the stock a "buy" rating in a research report on Thursday, August 14th. Finally, Royal Bank Of Canada lifted their price target on Gildan Activewear from $61.00 to $68.00 and gave the stock an "outperform" rating in a research report 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. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.58.

Gildan Activewear Stock Performance

Shares of GIL traded up $0.39 during mid-day trading on Friday, reaching $55.46. The company had a trading volume of 1,306,749 shares, compared to its average volume of 1,771,977. Gildan Activewear, Inc. has a 52-week low of $37.16 and a 52-week high of $57.76. The company has a quick ratio of 1.67, a current ratio of 3.87 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $8.28 billion, a P/E ratio of 17.60, a PEG ratio of 1.78 and a beta of 1.17. The stock has a 50 day moving average of $52.66 and a two-hundred day moving average of $48.70.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its earnings results on Thursday, July 31st. The textile maker reported $0.97 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 34.31% and a net margin of 14.55%.The company's revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. On average, analysts expect that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 21st will be issued a $0.226 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.6%. Gildan Activewear's dividend 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.