Cooke & Bieler LP Reduces Stake in Gildan Activewear, Inc. $GIL

Cooke & Bieler LP lessened its stake in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 0.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,280,276 shares of the textile maker’s stock after selling 51,301 shares during the quarter. Gildan Activewear comprises about 4.3% of Cooke & Bieler LP’s investment portfolio, making the stock its biggest position. Cooke & Bieler LP’s holdings in Gildan Activewear were worth $420,800,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Intact Investment Management Inc. raised its holdings in Gildan Activewear by 1.7% in the 3rd quarter. Intact Investment Management Inc. now owns 1,153,759 shares of the textile maker’s stock valued at $66,661,000 after acquiring an additional 19,196 shares during the period. CIBC Asset Management Inc grew its position in shares of Gildan Activewear by 1.4% in the third quarter. CIBC Asset Management Inc now owns 1,334,426 shares of the textile maker’s stock valued at $77,652,000 after purchasing an additional 18,080 shares during the last quarter. Oxbow Advisors LLC bought a new position in shares of Gildan Activewear during the third quarter worth approximately $5,092,000. Verdence Capital Advisors LLC increased its stake in shares of Gildan Activewear by 20.6% during the third quarter. Verdence Capital Advisors LLC now owns 24,707 shares of the textile maker’s stock worth $1,508,000 after purchasing an additional 4,216 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Gildan Activewear by 16.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 29,364 shares of the textile maker’s stock worth $1,791,000 after purchasing an additional 4,210 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Stock Performance

NYSE GIL opened at $66.92 on Monday. The firm’s 50 day simple moving average is $61.10 and its 200 day simple moving average is $57.68. The firm has a market capitalization of $12.39 billion, a price-to-earnings ratio of 21.38 and a beta of 1.11. The company has a current ratio of 2.01, a quick ratio of 0.88 and a debt-to-equity ratio of 0.94. Gildan Activewear, Inc. has a 1 year low of $37.16 and a 1 year high of $67.96.

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

Gildan Activewear Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Wednesday, November 19th were given a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Wednesday, November 19th. Gildan Activewear’s dividend payout ratio is currently 28.75%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GIL shares. UBS Group reiterated a “buy” rating and set a $110.00 price objective (up previously from $80.00) on shares of Gildan Activewear in a research report on Tuesday, December 16th. Zacks Research downgraded shares of Gildan Activewear from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 23rd. Scotiabank set a $66.00 price target on shares of Gildan Activewear and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Desjardins boosted their price objective on shares of Gildan Activewear from $80.00 to $95.00 and gave the company a “buy” rating in a report on Monday, October 27th. Finally, National Bankshares restated an “outperform” rating on shares of Gildan Activewear in a research report on Thursday, October 23rd. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Gildan Activewear presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.46.

Gildan Activewear Company Profile

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.