Marathon Asset Management Ltd Sells 46,401 Shares of Gildan Activewear, Inc. $GIL

Key Points

• Marathon Asset Management reduced its Gildan Activewear stake by 5.9% in the fourth quarter, selling 46,401 shares and leaving it with 744,881 shares worth about $46.6 million.
• Other institutional investors were also active in the stock, with Vanguard significantly boosting its position; overall, institutional ownership now stands at 82.83%.
• Gildan posted better-than-expected quarterly results with EPS of $0.43 on revenue of $1.17 billion, and it announced a quarterly dividend of $0.249 per share, implying an annual yield of about 1.8%.

Marathon Asset Management Ltd trimmed its holdings in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 744,881 shares of the textile maker's stock after selling 46,401 shares during the period. Gildan Activewear comprises about 1.8% of Marathon Asset Management Ltd's portfolio, making the stock its 22nd largest position. Marathon Asset Management Ltd owned approximately 0.40% of Gildan Activewear worth $46,620,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Gildan Activewear by 26.0% during the 4th quarter. Vanguard Group Inc. now owns 7,566,962 shares of the textile maker's stock worth $472,964,000 after acquiring an additional 1,561,729 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Gildan Activewear by 9.6% during the 3rd quarter. Mackenzie Financial Corp now owns 4,858,829 shares of the textile maker's stock worth $280,639,000 after acquiring an additional 424,809 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Gildan Activewear by 95.2% during the 3rd quarter. Lazard Asset Management LLC now owns 2,799,309 shares of the textile maker's stock worth $161,749,000 after acquiring an additional 1,364,953 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Gildan Activewear by 40.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,760,253 shares of the textile maker's stock worth $77,838,000 after acquiring an additional 503,359 shares in the last quarter. Finally, Bahl & Gaynor Inc. grew its holdings in Gildan Activewear by 30.4% during the 3rd quarter. Bahl & Gaynor Inc. now owns 1,457,591 shares of the textile maker's stock worth $84,249,000 after acquiring an additional 339,959 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GIL has been the topic of several recent research reports. National Bank Financial increased their target price on shares of Gildan Activewear from $92.00 to $97.00 and gave the stock an "outperform" rating in a report on Monday, February 2nd. Stifel Nicolaus boosted their price objective on shares of Gildan Activewear from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, February 23rd. Weiss Ratings cut shares of Gildan Activewear from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, May 4th. Scotiabank lowered their target price on shares of Gildan Activewear from $74.00 to $72.00 and set a "sector outperform" rating for the company in a research note on Monday, May 4th. Finally, BMO Capital Markets raised their target price on shares of Gildan Activewear from $70.00 to $78.00 and gave the company an "outperform" rating in a research note on Monday, January 26th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $79.77.

Gildan Activewear Price Performance

Shares of GIL opened at $54.64 on Wednesday. The company has a 50 day moving average of $57.81 and a two-hundred day moving average of $61.32. The company has a market cap of $10.12 billion, a price-to-earnings ratio of 32.14 and a beta of 1.10. The company has a quick ratio of 1.17, a current ratio of 2.35 and a debt-to-equity ratio of 1.32. Gildan Activewear, Inc. has a twelve month low of $46.00 and a twelve month high of $73.69.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its earnings results on Thursday, April 30th. The textile maker reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.07. The company had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.14 billion. Gildan Activewear had a net margin of 6.10% and a return on equity of 21.38%. Gildan Activewear's revenue for the quarter was up 63.8% on a year-over-year basis. During the same period last year, the business earned $0.59 EPS. Gildan Activewear has set its FY 2026 guidance at 4.200-4.400 EPS. As a group, analysts predict that Gildan Activewear, Inc. will post 4.25 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, May 20th will be paid a $0.249 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. Gildan Activewear's dividend payout ratio (DPR) is 58.82%.

Gildan Activewear Profile

Gildan Activewear Inc NYSE: GIL is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.

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