Korea Investment CORP Sells 56,726 Shares of Gildan Activewear, Inc. $GIL

Key Points

• Korea Investment CORP reduced its stake in Gildan Activewear by 25.6%, selling 56,726 shares, and now holds approximately 0.11% of the company valued at $7.29 million.
• Gildan Activewear reported $0.97 EPS for the quarter, exceeding estimates, and had a revenue of $918.5 million, representing a 6.5% increase year-over-year.
• Analysts have revised their target prices for Gildan Activewear, with Canaccord Genuity raising it to $67.00 and UBS increasing theirs to $70.00, reflecting positive sentiment for the stock.

Korea Investment CORP trimmed its position in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 25.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,865 shares of the textile maker's stock after selling 56,726 shares during the period. Korea Investment CORP owned approximately 0.11% of Gildan Activewear worth $7,288,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its stake in Gildan Activewear by 276.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker's stock valued at $83,394,000 after purchasing an additional 1,300,121 shares in the last quarter. Genus Capital Management Inc. grew its holdings in shares of Gildan Activewear by 191.7% in the 1st 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 period. Millennium Management LLC grew its holdings in shares of Gildan Activewear by 5,996.0% in the 4th 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 period. Alberta Investment Management Corp increased its position in shares of Gildan Activewear by 28.7% in the 1st 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 in the last quarter. Finally, Forge First Asset Management Inc. raised its stake in Gildan Activewear by 713.7% during the 1st quarter. Forge First Asset Management Inc. now owns 379,200 shares of the textile maker's stock worth $16,781,000 after buying an additional 332,600 shares during the period. Institutional investors and hedge funds own 82.83% of the company's stock.

Gildan Activewear Stock Down 1.1%

Shares of Gildan Activewear stock traded down $0.61 during trading hours on Thursday, reaching $54.77. 160,479 shares of the company's stock were exchanged, compared to its average volume of 772,331. The company has a 50 day moving average of $51.70 and a two-hundred day moving average of $48.62. Gildan Activewear, Inc. has a fifty-two week low of $37.16 and a fifty-two week high of $57.76. The company has a current ratio of 3.87, a quick ratio of 1.67 and a debt-to-equity ratio of 1.37. The stock has a market cap of $8.17 billion, a P/E ratio of 17.40, a P/E/G ratio of 1.76 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. Gildan Activewear had a return on equity of 34.31% and a net margin of 14.55%.The business had revenue of $918.50 million for the quarter, compared to the consensus estimate of $908.41 million. During the same quarter in the previous year, the business earned $0.74 earnings per share. Gildan Activewear's quarterly revenue was up 6.5% on a year-over-year basis. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. On average, sell-side analysts forecast that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GIL shares. TD Securities boosted their target price on Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Canaccord Genuity Group boosted their price objective on Gildan Activewear from $60.00 to $67.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Citigroup set a $60.00 target price on Gildan Activewear and gave the stock a "buy" rating in a research note on Thursday, August 14th. National Bankshares reaffirmed an "outperform" rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Finally, Cfra Research upgraded shares of Gildan Activewear to a "hold" rating in a report on Monday, August 4th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Gildan Activewear has a consensus rating of "Moderate Buy" and an average target price of $64.58.

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.