Lakewood Capital Management LP Sells 224,000 Shares of Gildan Activewear, Inc. $GIL

Lakewood Capital Management LP lowered its position in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 67.7% in the 3rd quarter, Holdings Channel reports. The firm owned 107,041 shares of the textile maker’s stock after selling 224,000 shares during the quarter. Lakewood Capital Management LP’s holdings in Gildan Activewear were worth $6,187,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Gildan Activewear by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 6,005,233 shares of the textile maker’s stock worth $346,928,000 after acquiring an additional 32,917 shares during the last quarter. Mackenzie Financial Corp grew its position in Gildan Activewear by 9.6% in the 3rd quarter. Mackenzie Financial Corp now owns 4,858,829 shares of the textile maker’s stock valued at $280,639,000 after acquiring an additional 424,809 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Gildan Activewear by 24.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,678,451 shares of the textile maker’s stock valued at $180,305,000 after acquiring an additional 718,896 shares during the last quarter. Norges Bank purchased a new stake in Gildan Activewear in the second quarter worth $101,409,000. Finally, Goldman Sachs Group Inc. increased its stake in Gildan Activewear by 40.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,760,253 shares of the textile maker’s stock worth $77,838,000 after purchasing an additional 503,359 shares during the period. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on GIL. Stifel Nicolaus boosted their price objective on shares of Gildan Activewear from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Zacks Research lowered shares of Gildan Activewear from a “hold” rating to a “strong sell” rating in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gildan Activewear in a research note on Monday, December 29th. BMO Capital Markets increased their price objective on Gildan Activewear from $70.00 to $78.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Finally, Scotiabank raised their price objective on Gildan Activewear from $72.00 to $74.00 and gave the stock a “sector outperform” rating in a report on Monday, March 2nd. Thirteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.08.

Gildan Activewear Stock Down 1.0%

Gildan Activewear stock opened at $58.69 on Friday. Gildan Activewear, Inc. has a 1-year low of $37.16 and a 1-year high of $73.69. The business has a fifty day moving average price of $66.74 and a 200-day moving average price of $61.31. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.11 and a quick ratio of 1.05. The stock has a market capitalization of $10.87 billion, a price-to-earnings ratio of 22.40 and a beta of 1.05.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Thursday, February 26th. The textile maker reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.35). The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.01 billion. Gildan Activewear had a return on equity of 27.32% and a net margin of 11.02%.The firm’s revenue for the quarter was up 31.1% on a year-over-year basis. During the same quarter last year, the business earned $0.83 earnings per share. Gildan Activewear has set its FY 2026 guidance at 4.200-4.400 EPS. Equities research analysts forecast that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Thursday, March 19th will be given a dividend of $0.249 per share. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, March 19th. Gildan Activewear’s dividend payout ratio (DPR) is 34.35%.

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.