Louisbourg Investments Inc. Cuts Stock Holdings in Gildan Activewear, Inc. $GIL

Key Points

• Louisbourg Investments Inc. reduced its holdings in Gildan Activewear by 10.7%, now holding 145,316 shares, making it the company's 17th largest holding.
• Gildan Activewear recently posted a quarterly EPS of $0.97, surpassing estimates, and reported a revenue growth of 6.5% year-over-year.
• Thirteen analysts have given Gildan Activewear a Buy rating, with a consensus price target of $66.23, while Canaccord Genuity has set a higher target of $67.00.

Louisbourg Investments Inc. trimmed its stake in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 10.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 145,316 shares of the textile maker's stock after selling 17,376 shares during the period. Gildan Activewear accounts for 1.6% of Louisbourg Investments Inc.'s portfolio, making the stock its 17th largest holding. Louisbourg Investments Inc. owned approximately 0.10% of Gildan Activewear worth $7,147,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Gildan Activewear during the first quarter valued at $1,072,000. Sumitomo Mitsui Trust Group Inc. bought a new position in Gildan Activewear during the first quarter valued at $474,000. PNC Financial Services Group Inc. lifted its position in Gildan Activewear by 173.6% during the first quarter. PNC Financial Services Group Inc. now owns 12,259 shares of the textile maker's stock valued at $542,000 after purchasing an additional 7,778 shares during the last quarter. Aigen Investment Management LP lifted its position in Gildan Activewear by 243.7% during the first quarter. Aigen Investment Management LP now owns 26,356 shares of the textile maker's stock valued at $1,165,000 after purchasing an additional 18,688 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Gildan Activewear by 385.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,848 shares of the textile maker's stock valued at $1,143,000 after purchasing an additional 20,523 shares during the last quarter. Institutional investors own 82.83% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on GIL shares. Canaccord Genuity Group increased their price objective on shares of Gildan Activewear from $60.00 to $67.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Wall Street Zen lowered shares of Gildan Activewear from a "buy" rating to a "hold" rating in a research report on Saturday, September 6th. BMO Capital Markets restated an "outperform" rating on shares of Gildan Activewear in a report on Thursday, August 14th. National Bankshares restated an "outperform" rating on shares of Gildan Activewear in a report on Thursday, August 14th. Finally, Citigroup set a $60.00 target price on shares of Gildan Activewear and gave the stock a "buy" rating in a report on Thursday, August 14th. Thirteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Gildan Activewear presently has a consensus rating of "Moderate Buy" and an average price target of $66.23.

Gildan Activewear Trading Down 2.1%

GIL stock opened at $59.43 on Friday. The company has a market capitalization of $8.86 billion, a PE ratio of 18.87, a P/E/G ratio of 1.95 and a beta of 1.20. Gildan Activewear, Inc. has a 12 month low of $37.16 and a 12 month high of $62.23. The firm's 50-day moving average is $55.68 and its 200 day moving average is $50.05. 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 (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings results on Thursday, July 31st. The textile maker reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. The company had revenue of $918.50 million for the quarter, compared to the consensus estimate of $908.41 million. Gildan Activewear had a net margin of 14.55% and a return on equity of 34.31%. The firm's revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 EPS. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. On average, research analysts anticipate that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, August 21st were paid a $0.226 dividend. This represents a $0.90 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, August 21st. Gildan Activewear's dividend payout ratio (DPR) is currently 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.

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