Public Employees Retirement System of Ohio Trims Holdings in Gildan Activewear, Inc. $GIL

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Gildan Activewear by 12.1%, owning 44,259 shares worth $2,177,000 after selling 6,096 shares in Q2.
• Gildan Activewear reported $0.97 earnings per share for the last quarter, surpassing analysts' estimates by $0.01, with revenue increasing by 6.5% year over year.
• The company recently announced a quarterly dividend of $0.226 per share, equating to an annual yield of 1.5% and a payout ratio of 28.57%.

Public Employees Retirement System of Ohio cut its stake in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 12.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,259 shares of the textile maker's stock after selling 6,096 shares during the period. Public Employees Retirement System of Ohio's holdings in Gildan Activewear were worth $2,177,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Maseco LLP purchased a new stake in shares of Gildan Activewear in the second quarter worth $26,000. Twin Tree Management LP bought a new position in Gildan Activewear in the 1st quarter worth about $29,000. Olde Wealth Management LLC bought a new stake in shares of Gildan Activewear during the 1st quarter valued at about $29,000. Versant Capital Management Inc grew its holdings in shares of Gildan Activewear by 510.7% during the first quarter. Versant Capital Management Inc now owns 745 shares of the textile maker's stock worth $33,000 after purchasing an additional 623 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Gildan Activewear by 4,323.5% in 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 last quarter. 82.83% of the stock is currently owned by institutional investors.

Gildan Activewear Stock Performance

NYSE:GIL opened at $59.86 on Friday. The business has a 50 day moving average of $54.58 and a 200 day moving average of $49.43. The company has a market capitalization of $8.92 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 1.90 and a beta of 1.20. Gildan Activewear, Inc. has a 1-year low of $37.16 and a 1-year high of $59.87. 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 released its earnings results on Thursday, July 31st. The textile maker reported $0.97 earnings per share for the quarter, topping 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 company had revenue of $918.50 million during the quarter, compared to the consensus estimate of $908.41 million. During the same quarter in the previous year, the company posted $0.74 EPS. Gildan Activewear's quarterly revenue was up 6.5% compared to the same quarter last year. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. On average, sell-side analysts predict that Gildan Activewear, Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, August 21st were given a $0.226 dividend. The ex-dividend date was Thursday, August 21st. This represents a $0.90 annualized dividend and a yield of 1.5%. Gildan Activewear's payout ratio is presently 28.57%.

Analyst Ratings Changes

A number of equities analysts have commented on GIL shares. National Bankshares reissued an "outperform" rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Scotiabank reissued an "outperform" rating on shares of Gildan Activewear in a report on Thursday, August 14th. Canaccord Genuity Group increased their price target on shares of Gildan Activewear from $60.00 to $67.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Cfra Research raised shares of Gildan Activewear to a "hold" rating in a report on Monday, August 4th. Finally, Wall Street Zen lowered shares of Gildan Activewear from a "buy" rating to a "hold" rating in a report on Saturday, September 6th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $64.58.

Gildan Activewear 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.

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