Browning West LP Sells 895,135 Shares of Gildan Activewear, Inc. $GIL

Browning West LP lessened its holdings in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 16.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,564,149 shares of the textile maker’s stock after selling 895,135 shares during the quarter. Gildan Activewear accounts for approximately 15.6% of Browning West LP’s investment portfolio, making the stock its 3rd biggest holding. Browning West LP’s holdings in Gildan Activewear were worth $224,739,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Maseco LLP acquired a new stake in Gildan Activewear in the 2nd quarter valued at $26,000. Twin Tree Management LP acquired a new position in shares of Gildan Activewear during the 1st quarter worth about $29,000. Assetmark Inc. grew its holdings in shares of Gildan Activewear by 5,200.0% in the 2nd 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 in the last quarter. Blue Trust Inc. increased its position in shares of Gildan Activewear by 51.4% in the second 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 last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Gildan Activewear during the first quarter worth about $129,000. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Trading Down 0.8%

GIL stock opened at $60.52 on Friday. Gildan Activewear, Inc. has a one year low of $37.16 and a one year high of $62.56. The stock has a market cap of $11.21 billion, a price-to-earnings ratio of 19.34 and a beta of 1.12. The company has a fifty day moving average price of $58.57 and a two-hundred day moving average price of $54.40. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.01 and a quick ratio of 0.88.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Wednesday, October 29th. The textile maker reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.02. The company had revenue of $910.60 million for the quarter, compared to analyst estimates of $925.24 million. Gildan Activewear had a net margin of 14.13% and a return on equity of 35.53%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 earnings per share. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. Equities analysts anticipate that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Dividend Announcement

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 dividend of $0.226 per share. The ex-dividend date is Wednesday, November 19th. This represents a $0.90 annualized dividend and a yield of 1.5%. Gildan Activewear’s dividend payout ratio (DPR) is 28.75%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GIL. Weiss Ratings reissued a “buy (b)” rating on shares of Gildan Activewear in a research report on Monday. Royal Bank Of Canada increased their price objective on Gildan Activewear from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Monday, October 27th. UBS Group set a $80.00 target price on shares of Gildan Activewear and gave the company a “buy” rating in a research note on Friday, October 31st. Zacks Research raised shares of Gildan Activewear from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 24th. Finally, National Bankshares reissued an “outperform” rating on shares of Gildan Activewear in a research report on Thursday, October 23rd. One 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.15.

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.