JPMorgan Chase & Co. Cuts Position in Gildan Activewear, Inc. $GIL

JPMorgan Chase & Co. trimmed its position in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 34.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 594,714 shares of the textile maker’s stock after selling 311,473 shares during the period. JPMorgan Chase & Co.’s holdings in Gildan Activewear were worth $29,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of GIL. Magnetar Financial LLC increased its position in Gildan Activewear by 583.4% in the second quarter. Magnetar Financial LLC now owns 124,179 shares of the textile maker’s stock worth $6,115,000 after purchasing an additional 106,008 shares during the last quarter. Swiss National Bank increased its holdings in shares of Gildan Activewear by 12.3% in the 2nd quarter. Swiss National Bank now owns 438,200 shares of the textile maker’s stock worth $21,509,000 after buying an additional 48,100 shares during the last quarter. Willis Investment Counsel raised its position in shares of Gildan Activewear by 87.8% during the 2nd quarter. Willis Investment Counsel now owns 53,156 shares of the textile maker’s stock valued at $2,617,000 after buying an additional 24,853 shares in the last quarter. Cumberland Partners Ltd raised its position in shares of Gildan Activewear by 54.2% during the 2nd quarter. Cumberland Partners Ltd now owns 9,100 shares of the textile maker’s stock valued at $447,000 after buying an additional 3,200 shares in the last quarter. Finally, Forge First Asset Management Inc. lifted its holdings in shares of Gildan Activewear by 20.9% in the 2nd quarter. Forge First Asset Management Inc. now owns 458,300 shares of the textile maker’s stock valued at $22,537,000 after acquiring an additional 79,100 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors.

Gildan Activewear Stock Performance

Gildan Activewear stock opened at $57.25 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.88 and a current ratio of 2.01. The company has a market capitalization of $8.53 billion, a PE ratio of 18.29 and a beta of 1.12. The company has a 50 day moving average price of $58.53 and a 200-day moving average price of $53.95. Gildan Activewear, Inc. has a fifty-two week low of $37.16 and a fifty-two week high of $62.56.

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

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be issued a $0.226 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Wednesday, November 19th. Gildan Activewear’s payout ratio is presently 28.75%.

Analyst Ratings Changes

Several brokerages have weighed in on GIL. Weiss Ratings reissued a “buy (b)” rating on shares of Gildan Activewear in a research note on Monday. Citigroup downgraded Gildan Activewear from a “buy” rating to a “neutral” rating and boosted their target price for the company from $60.00 to $63.00 in a research report on Monday, October 20th. Wall Street Zen lowered Gildan Activewear from a “buy” rating to a “hold” rating in a report on Saturday, September 6th. Barclays restated an “overweight” rating and issued a $70.00 price target (up from $64.00) on shares of Gildan Activewear in a research report on Thursday, October 30th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Gildan Activewear in a research report on Thursday, August 14th. 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 stock. According to data from MarketBeat.com, the company 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.