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Russell Investments Group Ltd. Trims Stock Position in Gildan Activewear, Inc. $GIL

Gildan Activewear logo with Consumer Discretionary background

Key Points

  • Russell Investments Group Ltd. has reduced its position in Gildan Activewear, Inc. by 25.8%, now holding approximately 0.12% of the company with $8.3 million in value.
  • Gildan Activewear posted earnings of $0.97 per share for the last quarter, slightly exceeding analysts' expectations, with a revenue of $918.5 million, reflecting a 6.5% year-over-year growth.
  • The company announced a quarterly dividend of $0.226, set to be paid on September 15th, with an annualized dividend yield of 1.6%.
  • Looking to export and analyze Gildan Activewear data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Russell Investments Group Ltd. lessened its stake in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 25.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 187,518 shares of the textile maker's stock after selling 65,289 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.12% of Gildan Activewear worth $8,298,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of GIL. Janus Henderson Group PLC lifted its holdings in shares of Gildan Activewear by 1.9% during the 4th quarter. Janus Henderson Group PLC now owns 6,970,246 shares of the textile maker's stock valued at $327,950,000 after purchasing an additional 128,674 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Gildan Activewear by 2.1% during the 1st quarter. Mackenzie Financial Corp now owns 2,738,691 shares of the textile maker's stock valued at $121,073,000 after purchasing an additional 56,400 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Gildan Activewear by 276.9% during the 4th 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 during the last quarter. Alberta Investment Management Corp lifted its holdings in shares of Gildan Activewear by 28.7% during 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 purchasing an additional 354,201 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in shares of Gildan Activewear by 15.7% during the 4th quarter. Lazard Asset Management LLC now owns 1,523,077 shares of the textile maker's stock valued at $71,660,000 after purchasing an additional 206,569 shares during the last quarter. Institutional investors own 82.83% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on GIL shares. Scotiabank reiterated an "outperform" rating on shares of Gildan Activewear in a report on Thursday, August 14th. National Bankshares reiterated an "outperform" rating on shares of Gildan Activewear in a report on Thursday, August 14th. Canaccord Genuity Group increased their price objective on Gildan Activewear from $60.00 to $67.00 and gave the company a "buy" rating in a report on Thursday, August 14th. UBS Group increased their price objective on Gildan Activewear from $56.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, Wall Street Zen raised Gildan Activewear from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.58.

Read Our Latest Report on Gildan Activewear

Gildan Activewear Stock Performance

GIL traded up $1.47 on Friday, reaching $55.68. 1,124,384 shares of the stock were exchanged, compared to its average volume of 1,654,535. The company's 50-day moving average price is $51.25 and its 200 day moving average price is $48.53. 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 debt-to-equity ratio of 1.37, a current ratio of 3.87 and a quick ratio of 1.67. The firm has a market capitalization of $8.31 billion, a PE ratio of 17.68, a PEG ratio of 1.79 and a beta of 1.17.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings results on Thursday, July 31st. The textile maker reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. The company had revenue of $918.50 million during the quarter, compared to analysts' expectations of $908.41 million. Gildan Activewear had a return on equity of 34.31% and a net margin of 14.55%.The firm's revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 EPS. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. As a group, sell-side analysts forecast that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders 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 1.6%. Gildan Activewear's dividend payout ratio (DPR) is presently 28.57%.

Gildan Activewear Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Gildan Activewear (NYSE:GIL)

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