Axa S.A. Decreases Stake in Gildan Activewear Inc. (NYSE:GIL)

Posted by on Mar 1st, 2023

Axa S.A. cut its holdings in Gildan Activewear Inc. (NYSE:GIL – Get Rating) (TSE:GIL) by 23.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,935 shares of the textile maker’s stock after selling 6,959 shares during the quarter. Axa S.A.’s holdings in Gildan Activewear were worth $649,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of GIL. Northwestern Mutual Wealth Management Co. raised its holdings in Gildan Activewear by 180.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 927 shares of the textile maker’s stock worth $27,000 after purchasing an additional 597 shares during the last quarter. Addison Advisors LLC raised its holdings in shares of Gildan Activewear by 311.9% in the third quarter. Addison Advisors LLC now owns 1,071 shares of the textile maker’s stock worth $30,000 after acquiring an additional 811 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Gildan Activewear by 1,432.5% in the third quarter. Jones Financial Companies Lllp now owns 3,065 shares of the textile maker’s stock worth $87,000 after acquiring an additional 2,865 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Gildan Activewear in the third quarter worth $106,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Gildan Activewear by 36.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,381 shares of the textile maker’s stock worth $127,000 after acquiring an additional 896 shares during the last quarter. 75.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. TheStreet lowered Gildan Activewear from a “b” rating to a “c+” rating in a research note on Wednesday, February 22nd. National Bank Financial boosted their price target on Gildan Activewear from C$45.00 to C$46.00 in a research report on Thursday, February 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $39.00 target price on shares of Gildan Activewear in a research report on Thursday, February 23rd. Finally, TD Securities cut Gildan Activewear from a “buy” rating to a “hold” rating and cut their price target for the stock from $43.00 to $36.00 in a research note on Monday, January 23rd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.50.

Gildan Activewear Price Performance

Shares of NYSE:GIL opened at $31.75 on Wednesday. The company has a current ratio of 2.69, a quick ratio of 0.78 and a debt-to-equity ratio of 0.46. Gildan Activewear Inc. has a 1 year low of $25.67 and a 1 year high of $39.91. The business has a fifty day simple moving average of $29.61 and a 200 day simple moving average of $29.76. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 1.13 and a beta of 1.27.

Gildan Activewear (NYSE:GIL – Get Rating) (TSE:GIL) last posted its earnings results on Wednesday, February 22nd. The textile maker reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $720.00 million for the quarter, compared to analyst estimates of $761.15 million. Gildan Activewear had a return on equity of 30.81% and a net margin of 16.71%. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 earnings per share. As a group, sell-side analysts predict that Gildan Activewear Inc. will post 3.09 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 10th. Stockholders of record on Tuesday, March 14th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Monday, March 13th. Gildan Activewear’s dividend payout ratio is currently 23.21%.

Gildan Activewear Company Profile

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Gildan Activewear, Inc is engaged in the manufacturing and sale of printwear and branded apparel. Its products include activewear, underwear, socks, hosiery, and legwear. The firm operates under the brand name Gildan, Alstyle, American Apparel, Comfort Colors, GOLD TOE, Anvil, Secret, Silks, and Peds.

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Institutional Ownership by Quarter for Gildan Activewear (NYSE:GIL)

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