Louisbourg Investments Inc. Trims Position in Gildan Activewear, Inc. $GIL

Louisbourg Investments Inc. decreased its holdings in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 10.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 145,316 shares of the textile maker’s stock after selling 17,376 shares during the period. Gildan Activewear accounts for about 1.6% of Louisbourg Investments Inc.’s portfolio, making the stock its 17th largest position. Louisbourg Investments Inc.’s holdings in Gildan Activewear were worth $7,147,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Gildan Activewear during the 1st quarter valued at about $1,072,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in Gildan Activewear during the 1st quarter valued at about $474,000. PNC Financial Services Group Inc. increased its position in Gildan Activewear by 173.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,259 shares of the textile maker’s stock valued at $542,000 after purchasing an additional 7,778 shares during the period. Aigen Investment Management LP increased its position in Gildan Activewear by 243.7% during the 1st quarter. Aigen Investment Management LP now owns 26,356 shares of the textile maker’s stock valued at $1,165,000 after purchasing an additional 18,688 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in Gildan Activewear by 385.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,848 shares of the textile maker’s stock valued at $1,143,000 after purchasing an additional 20,523 shares during the period. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Analyst Upgrades and Downgrades

GIL has been the topic of a number of research reports. Cfra Research raised shares of Gildan Activewear to a “hold” rating in a research report on Monday, August 4th. National Bankshares reissued an “outperform” rating on shares of Gildan Activewear in a research report on Thursday, August 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gildan Activewear in a research report on Saturday, September 27th. Barclays lifted their price objective on shares of Gildan Activewear from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, CIBC lifted their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperformer” rating in a research report on Friday, August 1st. Thirteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.23.

Gildan Activewear Stock Down 2.1%

Shares of Gildan Activewear stock opened at $59.43 on Friday. The firm’s 50 day moving average price is $55.68 and its 200-day moving average price is $50.05. The company has a market cap of $8.86 billion, a P/E ratio of 18.87, a PEG ratio of 1.95 and a beta of 1.20. The company has a quick ratio of 1.67, a current ratio of 3.87 and a debt-to-equity ratio of 1.37. Gildan Activewear, Inc. has a 52-week low of $37.16 and a 52-week high of $62.23.

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

Gildan Activewear Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, August 21st were paid a $0.226 dividend. The ex-dividend date was Thursday, August 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.5%. Gildan Activewear’s dividend payout ratio (DPR) is 28.57%.

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.