Renaissance Group LLC Trims Holdings in Gildan Activewear, Inc. $GIL

Renaissance Group LLC decreased its position in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 7.1% in the fourth quarter, HoldingsChannel reports. The firm owned 121,081 shares of the textile maker’s stock after selling 9,276 shares during the quarter. Renaissance Group LLC’s holdings in Gildan Activewear were worth $7,563,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Webster Bank N. A. acquired a new stake in Gildan Activewear during the 4th quarter valued at approximately $25,000. Larson Financial Group LLC increased its stake in shares of Gildan Activewear by 3,516.7% in the fourth quarter. Larson Financial Group LLC now owns 434 shares of the textile maker’s stock worth $27,000 after acquiring an additional 422 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Gildan Activewear by 161.8% during the second quarter. Smartleaf Asset Management LLC now owns 555 shares of the textile maker’s stock worth $27,000 after purchasing an additional 343 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Gildan Activewear by 867.9% during the third quarter. Brown Brothers Harriman & Co. now owns 513 shares of the textile maker’s stock worth $30,000 after purchasing an additional 460 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in Gildan Activewear by 169.0% during the third quarter. CIBC Private Wealth Group LLC now owns 538 shares of the textile maker’s stock valued at $31,000 after purchasing an additional 338 shares during the period. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Stock Down 3.5%

GIL stock opened at $57.10 on Thursday. Gildan Activewear, Inc. has a 52 week low of $46.00 and a 52 week high of $73.69. The company has a quick ratio of 1.17, a current ratio of 2.35 and a debt-to-equity ratio of 1.32. The firm has a 50-day simple moving average of $58.03 and a 200-day simple moving average of $61.50. The stock has a market capitalization of $10.57 billion, a P/E ratio of 33.59 and a beta of 1.08.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Thursday, April 30th. The textile maker reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. Gildan Activewear had a net margin of 6.10% and a return on equity of 21.38%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company posted $0.59 EPS. Gildan Activewear’s quarterly revenue was up 63.8% compared to the same quarter last year. Gildan Activewear has set its FY 2026 guidance at 4.200-4.400 EPS. Equities analysts forecast that Gildan Activewear, Inc. will post 4.25 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, May 20th will be given a dividend of $0.249 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Wednesday, May 20th. Gildan Activewear’s payout ratio is presently 58.82%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GIL shares. Scotiabank cut their price target on Gildan Activewear from $74.00 to $72.00 and set a “sector outperform” rating on the stock in a research report on Monday, May 4th. Stifel Nicolaus boosted their price objective on Gildan Activewear from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Royal Bank Of Canada lowered their target price on Gildan Activewear from $79.00 to $78.00 and set an “outperform” rating on the stock in a research note on Monday, March 2nd. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $77.00 price target on shares of Gildan Activewear in a research report on Friday, May 1st. Finally, UBS Group reissued a “buy” rating on shares of Gildan Activewear in a report on Wednesday, June 3rd. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Gildan Activewear has an average rating of “Moderate Buy” and a consensus price target of $79.77.

About Gildan Activewear

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.