Andra AP fonden Cuts Stock Holdings in Gildan Activewear, Inc. $GIL

Andra AP fonden lowered its stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 15.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,600 shares of the textile maker’s stock after selling 1,200 shares during the quarter. Andra AP fonden’s holdings in Gildan Activewear were worth $325,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Maseco LLP bought a new stake in shares of Gildan Activewear in the second quarter worth about $26,000. Twin Tree Management LP bought a new position in Gildan Activewear during the first quarter valued at approximately $29,000. Assetmark Inc. grew its holdings in Gildan Activewear by 5,200.0% during the 2nd quarter. Assetmark Inc. now owns 1,113 shares of the textile maker’s stock valued at $55,000 after buying an additional 1,092 shares in the last quarter. Blue Trust Inc. increased its stake in Gildan Activewear by 51.4% in the 2nd quarter. Blue Trust Inc. now owns 2,023 shares of the textile maker’s stock worth $100,000 after acquiring an additional 687 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Gildan Activewear during the 1st quarter worth approximately $129,000. Institutional investors own 82.83% of the company’s stock.

Analysts Set New Price Targets

GIL has been the subject of a number of recent research reports. TD Cowen raised their target price on shares of Gildan Activewear from $67.00 to $73.00 and gave the company a “buy” rating in a report on Monday, October 6th. Canaccord Genuity Group increased their price objective on shares of Gildan Activewear from $60.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, August 14th. Wall Street Zen cut shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Saturday, September 6th. Cfra Research upgraded shares of Gildan Activewear to a “hold” rating in a report on Monday, August 4th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Gildan Activewear in a report on Thursday, October 23rd. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Gildan Activewear currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.15.

Gildan Activewear Price Performance

Shares of GIL stock opened at $55.40 on Friday. The stock has a 50 day moving average price of $57.79 and a 200 day moving average price of $52.63. Gildan Activewear, Inc. has a 52-week low of $37.16 and a 52-week high of $62.56. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.67 and a current ratio of 3.87. The firm has a market capitalization of $8.26 billion, a P/E ratio of 17.70, a P/E/G ratio of 1.93 and a beta of 1.22.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Wednesday, October 29th. The textile maker reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. Gildan Activewear had a return on equity of 35.90% and a net margin of 14.13%.The business had revenue of $910.60 million for the quarter, compared to analyst estimates of $925.24 million. During the same quarter last year, the firm posted $0.85 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. As a group, sell-side analysts predict that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be given a $0.226 dividend. This represents a $0.90 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, November 19th. Gildan Activewear’s payout ratio is 28.75%.

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.