Gildan Activewear, Inc. $GIL Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its holdings in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 33.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,772 shares of the textile maker’s stock after selling 16,330 shares during the quarter. Franklin Resources Inc.’s holdings in Gildan Activewear were worth $1,566,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GIL. Maseco LLP acquired a new stake in shares of Gildan Activewear during the 2nd quarter worth about $26,000. Twin Tree Management LP purchased a new position in Gildan Activewear during the first quarter worth about $29,000. Assetmark Inc. increased its position in shares of Gildan Activewear by 5,200.0% during the second quarter. Assetmark Inc. now owns 1,113 shares of the textile maker’s stock valued at $55,000 after acquiring an additional 1,092 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Gildan Activewear by 51.4% in the 2nd quarter. Blue Trust Inc. now owns 2,023 shares of the textile maker’s stock valued at $100,000 after acquiring an additional 687 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Gildan Activewear in the 1st quarter worth approximately $129,000. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GIL shares. TD Securities reiterated a “buy” rating and issued a $74.00 target price on shares of Gildan Activewear in a report on Thursday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Citigroup downgraded Gildan Activewear from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $60.00 to $63.00 in a report on Monday, October 20th. National Bankshares restated an “outperform” rating on shares of Gildan Activewear in a report on Thursday, October 23rd. Finally, Zacks Research upgraded shares of Gildan Activewear from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Gildan Activewear currently has a consensus rating of “Moderate Buy” and an average target price of $72.15.

Gildan Activewear Trading Up 1.7%

NYSE:GIL opened at $58.40 on Friday. Gildan Activewear, Inc. has a 12-month low of $37.16 and a 12-month high of $62.56. The firm has a market cap of $8.71 billion, a PE ratio of 18.66 and a beta of 1.12. The company has a current ratio of 2.01, a quick ratio of 0.88 and a debt-to-equity ratio of 0.94. The stock has a fifty day moving average price of $58.58 and a 200 day moving average price of $54.01.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Wednesday, October 29th. The textile maker reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. Gildan Activewear had a return on equity of 35.53% and a net margin of 14.13%.The company had revenue of $910.60 million for the quarter, compared to analyst estimates of $925.24 million. During the same quarter last year, the company earned $0.85 EPS. Gildan Activewear’s revenue for the quarter 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. Sell-side analysts anticipate that Gildan Activewear, Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be issued a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a yield of 1.5%. The ex-dividend date 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.