Hsbc Holdings PLC Has $663,000 Position in Gildan Activewear, Inc. $GIL

Key Points

• Hsbc Holdings PLC reduced its stake in Gildan Activewear by 36.0%, bringing its holdings to 14,998 shares valued at approximately $663,000.
• Gildan Activewear reported earnings per share of $0.97 for the last quarter, surpassing the estimate of $0.96, with revenues reaching $918.50 million.
• The company recently announced a quarterly dividend of $0.226 per share, with a 1.7% dividend yield and a payout ratio of 28.57%.

Hsbc Holdings PLC reduced its stake in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 36.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,998 shares of the textile maker's stock after selling 8,437 shares during the period. Hsbc Holdings PLC's holdings in Gildan Activewear were worth $663,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GIL. Olde Wealth Management LLC bought a new stake in shares of Gildan Activewear during the 1st quarter worth about $29,000. Versant Capital Management Inc lifted its holdings 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 during the last quarter. GAMMA Investing LLC boosted its position in Gildan Activewear by 4,323.5% during the first quarter. GAMMA Investing LLC now owns 752 shares of the textile maker's stock worth $33,000 after purchasing an additional 735 shares during the period. Blue Trust Inc. grew its holdings in Gildan Activewear by 69.3% during the first quarter. Blue Trust Inc. now owns 1,336 shares of the textile maker's stock valued at $59,000 after purchasing an additional 547 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new position in shares of Gildan Activewear in the fourth quarter valued at approximately $114,000. 82.83% of the stock is owned by institutional investors and hedge funds.

Gildan Activewear Stock Down 0.6%

NYSE GIL opened at $54.60 on Monday. Gildan Activewear, Inc. has a twelve month low of $37.16 and a twelve month high of $57.76. The stock has a market cap of $8.15 billion, a PE ratio of 17.33, a PEG ratio of 1.75 and a beta of 1.17. The firm has a 50-day simple moving average of $52.02 and a 200 day simple moving average of $48.64. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.67 and a current ratio of 3.87.

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 (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 return on equity of 34.31% and a net margin of 14.55%.The company's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 earnings per share. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. On average, research analysts forecast that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Announces Dividend

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 $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, August 21st. Gildan Activewear's dividend payout ratio is presently 28.57%.

Analyst Ratings Changes

GIL has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed an "outperform" rating on shares of Gildan Activewear in a report on Thursday, August 14th. UBS Group upped their price target on shares of Gildan Activewear from $56.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Canaccord Genuity Group raised their price target on Gildan Activewear from $60.00 to $67.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Scotiabank reissued an "outperform" rating on shares of Gildan Activewear in a research report on Thursday, August 14th. Finally, Barclays raised their target price on Gildan Activewear from $51.00 to $56.00 and gave the company an "overweight" rating in a report on Friday, August 1st. 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 company has a consensus rating of "Moderate Buy" and an average 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.

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