Gildan Activewear, Inc. $GIL Shares Sold by Royal Bank of Canada

Key Points

• The Royal Bank of Canada reduced its stake in Gildan Activewear by 11.6%, selling 136,224 shares, which now accounts for approximately 0.68% of the company.
• Gildan Activewear's quarterly earnings beat estimates with an EPS of $0.97, attributing a 6.5% revenue increase year-over-year, totaling $918.50 million.
• The company recently announced a quarterly dividend of $0.226, translating to an annualized dividend yield of 1.6%.

Royal Bank of Canada trimmed its position in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 11.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,036,989 shares of the textile maker's stock after selling 136,224 shares during the quarter. Royal Bank of Canada owned 0.68% of Gildan Activewear worth $45,855,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Gildan Activewear during the first quarter worth about $1,072,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Gildan Activewear in the 1st quarter valued at about $474,000. PNC Financial Services Group Inc. raised its stake 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 buying an additional 7,778 shares in the last quarter. Aigen Investment Management LP boosted its holdings in Gildan Activewear by 243.7% in the first quarter. Aigen Investment Management LP now owns 26,356 shares of the textile maker's stock worth $1,165,000 after purchasing an additional 18,688 shares during the period. Finally, Polar Asset Management Partners Inc. boosted its holdings in shares of Gildan Activewear by 55.6% in the 4th quarter. Polar Asset Management Partners Inc. now owns 26,450 shares of the textile maker's stock valued at $1,244,000 after buying an additional 9,450 shares during the period. Institutional investors and hedge funds own 82.83% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on GIL. Wall Street Zen downgraded Gildan Activewear from a "buy" rating to a "hold" rating in a report on Saturday, September 6th. Stifel Nicolaus raised their target price on Gildan Activewear from $65.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. Canaccord Genuity Group boosted their price target on shares of Gildan Activewear from $60.00 to $67.00 and gave the company a "buy" rating in a report on Thursday, August 14th. BMO Capital Markets restated an "outperform" rating on shares of Gildan Activewear in a research report on Thursday, August 14th. Finally, Royal Bank Of Canada lifted their price objective on shares of Gildan Activewear from $61.00 to $68.00 and gave the company an "outperform" rating in a research report on Thursday, August 14th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $64.58.

Gildan Activewear Stock Performance

Shares of NYSE:GIL traded up $0.94 on Thursday, hitting $55.17. The company's stock had a trading volume of 986,750 shares, compared to its average volume of 1,501,110. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 1.74 and a beta of 1.17. 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, Inc. has a 12 month low of $37.16 and a 12 month high of $57.76. The stock's 50-day moving average is $53.06 and its two-hundred day moving average is $48.80.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings data on Thursday, July 31st. The textile maker reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. The business had revenue of $918.50 million during 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 company's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior 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, equities research analysts forecast that Gildan Activewear, Inc. will post 3.48 EPS for the current 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 issued a $0.226 dividend. The ex-dividend date is Thursday, August 21st. This represents a $0.90 annualized dividend and a dividend yield of 1.6%. Gildan Activewear's dividend payout ratio (DPR) is 28.57%.

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.