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

Franklin Resources Inc. reduced its holdings in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 33.9% in the 2nd quarter, HoldingsChannel reports. The fund 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 made changes to their positions in the business. LPL Financial LLC raised its position in shares of Gildan Activewear by 5.8% during the 1st quarter. LPL Financial LLC now owns 59,670 shares of the textile maker’s stock worth $2,639,000 after acquiring an additional 3,251 shares in the last quarter. US Bancorp DE raised its holdings in Gildan Activewear by 44.7% during the first quarter. US Bancorp DE now owns 13,729 shares of the textile maker’s stock worth $607,000 after purchasing an additional 4,239 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in Gildan Activewear during the first quarter worth approximately $246,000. PNC Financial Services Group Inc. lifted its position in shares of 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 worth $542,000 after buying an additional 7,778 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new position in shares of Gildan Activewear in the 1st quarter valued at $351,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Gildan Activewear Price Performance

Shares of NYSE:GIL opened at $58.40 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 capitalization of $8.71 billion, a price-to-earnings ratio of 18.66 and a beta of 1.12. The company has a 50-day simple moving average of $58.58 and a 200-day simple moving average of $54.01. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.88 and a current ratio of 2.01.

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

Gildan Activewear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be paid a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Wednesday, November 19th. Gildan Activewear’s dividend payout ratio is 28.75%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Royal Bank Of Canada lifted their price target on shares of Gildan Activewear from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Scotiabank set a $66.00 price objective on Gildan Activewear and gave the stock an “outperform” rating in a report on Thursday, October 30th. Stifel Nicolaus set a $75.00 target price on Gildan Activewear and gave the company a “buy” rating in a report on Friday, September 19th. Zacks Research raised Gildan Activewear from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Gildan Activewear in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company’s 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 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.