Gildan Activewear, Inc. $GIL Shares Sold by Summit Financial LLC

Key Points

• Summit Financial LLC reduced its stake in Gildan Activewear by 31.2% during the first quarter, now owning 10,855 shares valued at approximately $480,000.
• Gildan Activewear reported a better-than-expected quarterly earnings result, with an EPS of $0.97, exceeding the consensus estimate of $0.96 and a revenue of $918.5 million.
• The company has announced a quarterly dividend of $0.226 per share, with a payout ratio of 28.57% and an annualized yield of 1.6%.

Summit Financial LLC decreased its holdings in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 31.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,855 shares of the textile maker's stock after selling 4,927 shares during the quarter. Summit Financial LLC's holdings in Gildan Activewear were worth $480,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Cooper Financial Group lifted its position in Gildan Activewear by 1.7% during the 1st quarter. Cooper Financial Group now owns 16,537 shares of the textile maker's stock worth $731,000 after acquiring an additional 269 shares in the last quarter. Haven Private LLC raised its stake in shares of Gildan Activewear by 3.4% during the first quarter. Haven Private LLC now owns 8,653 shares of the textile maker's stock valued at $383,000 after purchasing an additional 284 shares during the period. TD Private Client Wealth LLC lifted its position in shares of Gildan Activewear by 15.5% during the first quarter. TD Private Client Wealth LLC now owns 3,545 shares of the textile maker's stock worth $157,000 after purchasing an additional 476 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Gildan Activewear by 69.3% during the first quarter. Blue Trust Inc. now owns 1,336 shares of the textile maker's stock worth $59,000 after purchasing an additional 547 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in shares of Gildan Activewear by 0.7% in the first quarter. Raymond James Financial Inc. now owns 80,133 shares of the textile maker's stock valued at $3,543,000 after purchasing an additional 552 shares during the period. 82.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. BMO Capital Markets reissued an "outperform" rating on shares of Gildan Activewear in a report on Thursday, August 14th. Wall Street Zen raised Gildan Activewear from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Stifel Nicolaus upped their price objective on Gildan Activewear from $65.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. Royal Bank Of Canada lifted their target price on Gildan Activewear from $61.00 to $68.00 and gave the stock an "outperform" rating in a research report on Thursday, August 14th. Finally, Cfra Research upgraded Gildan Activewear to a "hold" rating in a report on Monday, August 4th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $64.58.

Gildan Activewear Stock Performance

Shares of Gildan Activewear stock traded down $0.33 during trading on Friday, hitting $54.60. 622,143 shares of the stock were exchanged, compared to its average volume of 1,704,495. 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 fifty day moving average is $52.02 and its 200 day moving average is $48.66. The stock has a market cap of $8.15 billion, a PE 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 released its quarterly earnings results on Thursday, July 31st. The textile maker reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. The company had revenue of $918.50 million for 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 business's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. As a group, sell-side analysts anticipate that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 21st will be issued a $0.226 dividend. 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 presently 28.57%.

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.