Scotia Capital Inc. Cuts Stake in Gildan Activewear, Inc. $GIL

Scotia Capital Inc. reduced its position in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 17.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,206 shares of the textile maker’s stock after selling 13,527 shares during the quarter. Scotia Capital Inc.’s holdings in Gildan Activewear were worth $3,250,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GIL. Bank of Nova Scotia Trust Co. increased its position in Gildan Activewear by 2.5% during the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 8,499 shares of the textile maker’s stock valued at $418,000 after purchasing an additional 207 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Gildan Activewear by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 73,619 shares of the textile maker’s stock valued at $3,612,000 after purchasing an additional 231 shares in the last quarter. Cetera Investment Advisers increased its holdings in Gildan Activewear by 2.1% during the second quarter. Cetera Investment Advisers now owns 12,510 shares of the textile maker’s stock valued at $616,000 after buying an additional 259 shares during the period. Cooper Financial Group increased its holdings in Gildan Activewear by 1.7% during the first quarter. Cooper Financial Group now owns 16,537 shares of the textile maker’s stock valued at $731,000 after buying an additional 269 shares during the period. Finally, Haven Private LLC raised its stake in Gildan Activewear by 3.4% in the first quarter. Haven Private LLC now owns 8,653 shares of the textile maker’s stock worth $383,000 after buying an additional 284 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors.

Gildan Activewear Stock Performance

Shares of NYSE:GIL opened at $57.34 on Monday. The business’s 50-day moving average is $58.51 and its 200 day moving average is $53.84. Gildan Activewear, Inc. has a 1 year low of $37.16 and a 1 year high of $62.56. The firm has a market capitalization of $8.55 billion, a P/E ratio of 18.32, a P/E/G ratio of 1.93 and a beta of 1.22. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.87 and a quick ratio of 1.67.

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 for the quarter, topping the consensus estimate of $0.98 by $0.02. Gildan Activewear had a return on equity of 35.90% and a net margin of 14.13%.The business had revenue of $910.60 million during the quarter, compared to the consensus estimate of $925.24 million. During the same quarter last year, the company earned $0.85 earnings per share. The company’s quarterly 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. On average, research analysts predict that Gildan Activewear, Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The business also recently announced 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. This represents a $0.90 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, November 19th. Gildan Activewear’s payout ratio is currently 28.75%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GIL. Wall Street Zen cut Gildan Activewear from a “buy” rating to a “hold” rating in a research report on Saturday, September 6th. Stifel Nicolaus set a $75.00 price objective on Gildan Activewear and gave the stock a “buy” rating in a research note on Friday, September 19th. National Bankshares reiterated an “outperform” rating on shares of Gildan Activewear in a research note on Thursday, October 23rd. Barclays reiterated an “overweight” rating and issued a $70.00 target price (up from $64.00) on shares of Gildan Activewear in a report on Thursday, October 30th. Finally, Desjardins increased their price target on shares of Gildan Activewear from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.