PNC Financial Services Group Inc. Has $282,000 Position in Gildan Activewear, Inc. $GIL

PNC Financial Services Group Inc. lowered its position in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 53.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,735 shares of the textile maker’s stock after selling 6,524 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Gildan Activewear were worth $282,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Maseco LLP bought a new stake in Gildan Activewear in the second quarter valued at $26,000. Twin Tree Management LP acquired a new stake in shares of Gildan Activewear in the 1st quarter valued at $29,000. Assetmark Inc. lifted its position in Gildan Activewear by 5,200.0% during the 2nd quarter. Assetmark Inc. now owns 1,113 shares of the textile maker’s stock valued at $55,000 after purchasing an additional 1,092 shares during the period. Blue Trust Inc. boosted its stake in Gildan Activewear by 51.4% in the second quarter. Blue Trust Inc. now owns 2,023 shares of the textile maker’s stock valued at $100,000 after acquiring an additional 687 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Gildan Activewear during the first quarter worth $129,000. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Stock Performance

NYSE GIL opened at $57.46 on Thursday. The company has a current ratio of 3.87, a quick ratio of 1.67 and a debt-to-equity ratio of 1.37. 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 $8.57 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 1.93 and a beta of 1.22. The firm’s 50 day simple moving average is $58.42 and its 200 day simple moving average is $53.69.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data 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. The business had revenue of $910.60 million during the quarter, compared to the consensus estimate of $925.24 million. Gildan Activewear had a return on equity of 35.90% and a net margin of 14.13%.Gildan Activewear’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 EPS. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. As a group, research analysts expect that Gildan Activewear, Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

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 dividend of $0.226 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $0.90 annualized dividend and a dividend yield of 1.6%. Gildan Activewear’s dividend payout ratio (DPR) is 28.75%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GIL. Wall Street Zen downgraded shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Saturday, September 6th. TD Securities reissued a “buy” rating and issued a $74.00 price objective on shares of Gildan Activewear in a research report on Thursday, October 30th. Barclays restated an “overweight” rating and issued a $70.00 price target (up from $64.00) on shares of Gildan Activewear in a research note on Thursday, October 30th. CIBC upped their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an “outperformer” rating in a report on Friday, August 1st. Finally, Stifel Nicolaus set a $75.00 price target on Gildan Activewear and gave the company a “buy” rating in a report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average 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.