Gildan Activewear, Inc. (NYSE:GIL) Short Interest Update

Key Points

• Gildan Activewear experienced a significant increase in short interest in August, rising 63.0% to 3,260,000 shares, which represents approximately 2.2% of the company's total shares.
• Institutional investors hold 82.83% of Gildan Activewear's stock, with notable increases in holdings from Northern Trust Corp and Jane Street Group LLC during the fourth quarter.
• The company reported quarterly earnings of $0.97 per share, exceeding analyst expectations, and has set guidance for FY 2025 EPS between $3.400 and $3.560.

Gildan Activewear, Inc. (NYSE:GIL - Get Free Report) TSE: GIL was the target of a large increase in short interest in the month of August. As of August 15th, there was short interest totaling 3,260,000 shares, anincreaseof63.0% from the July 31st total of 2,000,000 shares. Approximately2.2% of the shares of the company are sold short. Based on an average daily volume of 892,000 shares, the days-to-cover ratio is presently 3.7 days. Based on an average daily volume of 892,000 shares, the days-to-cover ratio is presently 3.7 days. Approximately2.2% of the shares of the company are sold short.

Hedge Funds Weigh In On Gildan Activewear

Hedge funds have recently modified their holdings of the stock. Northern Trust Corp increased its holdings in Gildan Activewear by 37.6% in the 4th quarter. Northern Trust Corp now owns 163,120 shares of the textile maker's stock valued at $7,675,000 after acquiring an additional 44,597 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Gildan Activewear by 50.0% in the fourth quarter. Jane Street Group LLC now owns 92,840 shares of the textile maker's stock worth $4,368,000 after purchasing an additional 30,928 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Gildan Activewear in the fourth quarter worth about $1,849,000. Bank of America Corp DE lifted its position in shares of Gildan Activewear by 8.1% in the fourth quarter. Bank of America Corp DE now owns 1,502,417 shares of the textile maker's stock worth $70,689,000 after buying an additional 112,894 shares in the last quarter. Finally, Baird Financial Group Inc. bought a new position in Gildan Activewear during the fourth quarter valued at approximately $234,000. Hedge funds and other institutional investors own 82.83% of the company's stock.

Gildan Activewear Price Performance

NYSE:GIL traded up $0.39 on Friday, reaching $55.46. 1,306,749 shares of the company's stock traded hands, compared to its average volume of 1,725,715. The stock has a 50-day simple moving average of $52.66 and a 200-day simple moving average of $48.78. Gildan Activewear has a 12 month low of $37.16 and a 12 month high of $57.76. The firm has a market cap of $8.28 billion, a PE ratio of 17.60, a P/E/G ratio of 1.77 and a beta of 1.17. The company has a quick ratio of 1.67, a current ratio of 3.87 and a debt-to-equity ratio of 1.37.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its quarterly earnings data 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. The firm had revenue of $918.50 million during the quarter, compared to analyst estimates of $908.41 million. Gildan Activewear had a return on equity of 34.31% and a net margin of 14.55%.The business'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. Equities research analysts forecast that Gildan Activewear will post 3.48 earnings per share 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 given a dividend of $0.226 per share. 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 presently 28.57%.

Analyst Ratings Changes

A number of research firms recently issued reports on GIL. Stifel Nicolaus raised their price objective on shares of Gildan Activewear from $65.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Citigroup set a $60.00 price target on shares of Gildan Activewear and gave the stock a "buy" rating in a research note on Thursday, August 14th. UBS Group boosted their price objective 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. Wall Street Zen cut Gildan Activewear from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Canaccord Genuity Group lifted their target price on Gildan Activewear from $60.00 to $67.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. 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, Gildan Activewear currently has a consensus rating of "Moderate Buy" and an average target price of $64.58.

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.

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