State of Wyoming Has $490,000 Position in Gildan Activewear, Inc. $GIL

Key Points

• The State of Wyoming reduced its stake in Gildan Activewear, Inc. by 39.2%, bringing its holdings to 11,081 shares valued at $490,000.
• Several other institutional investors have made significant adjustments to their positions, with some increasing their stakes by more than 4,000% in the first quarter.
• Gildan Activewear posted a quarterly earnings report showing $0.97 earnings per share and had revenue of $918.50 million, exceeding analysts' expectations.

State of Wyoming reduced its stake in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 39.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,081 shares of the textile maker's stock after selling 7,148 shares during the period. State of Wyoming's holdings in Gildan Activewear were worth $490,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Olde Wealth Management LLC acquired a new position in shares of Gildan Activewear in the first quarter valued at $29,000. Versant Capital Management Inc boosted its position in shares of Gildan Activewear by 510.7% in the first quarter. Versant Capital Management Inc now owns 745 shares of the textile maker's stock valued at $33,000 after acquiring an additional 623 shares during the period. GAMMA Investing LLC boosted 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 valued at $33,000 after acquiring an additional 735 shares during the period. Blue Trust Inc. boosted its position in shares of Gildan Activewear by 69.3% in the first quarter. Blue Trust Inc. now owns 1,336 shares of the textile maker's stock valued at $59,000 after acquiring an additional 547 shares during the period. Finally, Aquatic Capital Management LLC bought a new stake in shares of Gildan Activewear in the fourth quarter valued at about $114,000. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GIL has been the subject of a number of recent research reports. BMO Capital Markets reissued an "outperform" rating on shares of Gildan Activewear in a research report on Thursday, August 14th. Stifel Nicolaus boosted their target price on shares of Gildan Activewear from $65.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Barclays boosted their target price on shares of Gildan Activewear from $51.00 to $56.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Cfra Research raised shares of Gildan Activewear to a "hold" rating in a research report on Monday, August 4th. Finally, UBS Group boosted their target price on shares of Gildan Activewear from $56.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $64.58.

Gildan Activewear Trading Down 0.6%

GIL opened at $54.60 on Friday. Gildan Activewear, Inc. has a twelve month low of $37.16 and a twelve month high of $57.76. The company has a 50-day simple moving average of $52.02 and a 200 day simple moving average of $48.66. The company has a quick ratio of 1.67, a current ratio of 3.87 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 1.75 and a beta of 1.17.

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. Gildan Activewear had a net margin of 14.55% and a return on equity of 34.31%. The business had revenue of $918.50 million during the quarter, compared to analysts' expectations of $908.41 million. During the same quarter in the prior year, the business posted $0.74 earnings per share. Gildan Activewear's 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. Analysts predict that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 21st will be given a dividend of $0.226 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.90 annualized dividend and a yield of 1.7%. Gildan Activewear's dividend payout ratio 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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