Truist Financial Corp Sells 467 Shares of Gildan Activewear, Inc. $GIL

Truist Financial Corp reduced its holdings in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,364 shares of the textile maker’s stock after selling 467 shares during the quarter. Truist Financial Corp’s holdings in Gildan Activewear were worth $1,003,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Maseco LLP purchased a new stake in Gildan Activewear in the 2nd quarter worth approximately $26,000. Twin Tree Management LP bought a new stake in Gildan Activewear in the 1st quarter worth $29,000. Olde Wealth Management LLC purchased a new stake in shares of Gildan Activewear in the 1st quarter worth about $29,000. GAMMA Investing LLC lifted its position in shares of Gildan Activewear by 4,323.5% in the 1st quarter. GAMMA Investing LLC now owns 752 shares of the textile maker’s stock worth $33,000 after purchasing an additional 735 shares during the period. Finally, Blue Trust Inc. lifted its position in Gildan Activewear by 69.3% during the 1st 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. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on GIL shares. UBS Group raised their price objective on shares of Gildan Activewear from $56.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Stifel Nicolaus set a $75.00 price target on shares of Gildan Activewear and gave the company a “buy” rating in a research note on Friday, September 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gildan Activewear in a research note on Saturday, September 27th. Barclays upped their price target on shares of Gildan Activewear from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.23.

Gildan Activewear Stock Up 1.7%

Shares of Gildan Activewear stock opened at $60.37 on Tuesday. The stock has a market cap of $9.00 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 1.91 and a beta of 1.20. The firm’s 50-day moving average is $55.85 and its two-hundred day moving average is $50.23. Gildan Activewear, Inc. has a 1 year low of $37.16 and a 1 year high of $62.23. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.87 and a quick ratio of 1.67.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Thursday, July 31st. The textile maker reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The business had revenue of $918.50 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.74 earnings per share. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. As a group, research analysts expect that Gildan Activewear, Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, August 21st were given a $0.226 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, August 21st. Gildan Activewear’s dividend payout ratio (DPR) 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.