Janney Montgomery Scott LLC Sells 1,647 Shares of Gildan Activewear, Inc. $GIL

Janney Montgomery Scott LLC cut its holdings in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 14.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,549 shares of the textile maker’s stock after selling 1,647 shares during the period. Janney Montgomery Scott LLC’s holdings in Gildan Activewear were worth $470,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Moody Lynn & Lieberson LLC bought a new position in shares of Gildan Activewear in the second quarter worth about $202,000. Avior Wealth Management LLC increased its stake in shares of Gildan Activewear by 12,277.2% in the second quarter. Avior Wealth Management LLC now owns 27,725 shares of the textile maker’s stock worth $1,365,000 after purchasing an additional 27,501 shares during the period. Maseco LLP bought a new position in shares of Gildan Activewear in the second quarter worth about $26,000. Counterpoint Mutual Funds LLC bought a new position in shares of Gildan Activewear in the second quarter worth about $317,000. Finally, Cardinal Capital Management Inc. increased its stake in shares of Gildan Activewear by 0.5% in the second quarter. Cardinal Capital Management Inc. now owns 2,728,046 shares of the textile maker’s stock worth $134,378,000 after purchasing an additional 14,065 shares during the period. 82.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GIL. Cfra Research upgraded Gildan Activewear to a “hold” rating in a research note on Monday, August 4th. CIBC lifted their target price on Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperformer” rating in a research report on Friday, August 1st. TD Cowen lifted their target price on Gildan Activewear from $67.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Barclays lifted their target price on Gildan Activewear from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, TD Securities set a $73.00 target price on Gildan Activewear and gave the stock a “buy” rating in a research report on Monday, October 6th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $66.23.

Gildan Activewear Stock Up 0.3%

NYSE GIL opened at $60.70 on Friday. The company has a current ratio of 3.87, a quick ratio of 1.67 and a debt-to-equity ratio of 1.37. The stock’s 50 day moving average is $56.51 and its two-hundred day moving average is $50.59. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 1.94 and a beta of 1.20. Gildan Activewear, Inc. has a 1-year low of $37.16 and a 1-year high of $62.23.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Thursday, July 31st. The textile maker reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. The business had revenue of $918.50 million for the quarter, compared to the consensus estimate of $908.41 million. Gildan Activewear had a return on equity of 34.31% and a net margin of 14.55%.Gildan Activewear’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 EPS. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. Equities analysts forecast that Gildan Activewear, Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Thursday, August 21st were issued 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 payout ratio is presently 28.57%.

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.