New South Capital Management Inc. Sells 270,414 Shares of Gildan Activewear, Inc. $GIL

New South Capital Management Inc. cut its stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 39.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 413,980 shares of the textile maker’s stock after selling 270,414 shares during the period. Gildan Activewear makes up about 1.2% of New South Capital Management Inc.’s portfolio, making the stock its 25th biggest holding. New South Capital Management Inc. owned approximately 0.22% of Gildan Activewear worth $17,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Caisse de depot et placement du Quebec acquired a new stake in shares of Gildan Activewear during the 2nd quarter worth $601,931,000. Jupiter Topco LLC bought a new position in shares of Gildan Activewear in the second quarter worth $573,363,000. The Manufacturers Life Insurance Company acquired a new position in Gildan Activewear in the second quarter valued at about $234,764,000. Bank of America Corp DE acquired a new position in Gildan Activewear in the second quarter valued at about $65,193,000. Finally, Royal Bank of Canada raised its stake in Gildan Activewear by 20.9% in the first quarter. Royal Bank of Canada now owns 6,911,589 shares of the textile maker’s stock valued at $384,629,000 after purchasing an additional 1,193,718 shares in the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GIL. Canaccord Genuity Group cut shares of Gildan Activewear from a “buy” rating to a “hold” rating and cut their price objective for the stock from $62.00 to $41.00 in a research report on Friday, November 6th. TD decreased their target price on shares of Gildan Activewear from $80.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, September 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Gildan Activewear in a report on Wednesday. BMO Capital Markets restated an “outperform” rating and issued a $40.00 target price on shares of Gildan Activewear in a research report on Monday. Finally, Scotiabank downgraded shares of Gildan Activewear from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $53.00 to $39.00 in a report on Friday, November 6th. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Gildan Activewear presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.42.

Gildan Activewear Trading Up 0.3%

Shares of GIL stock opened at $35.78 on Thursday. Gildan Activewear, Inc. has a fifty-two week low of $31.33 and a fifty-two week high of $73.69. The stock’s fifty day moving average price is $42.89 and its two-hundred day moving average price is $54.71. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.22 and a current ratio of 2.32. The company has a market cap of $6.63 billion, a PE ratio of 8.48 and a beta of 1.15.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Thursday, November 5th. The textile maker reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.03). Gildan Activewear had a return on equity of 21.76% and a net margin of 3.77%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.62 billion. Equities analysts predict that Gildan Activewear, Inc. will post 4.24 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be given a $0.2490 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, November 25th. Gildan Activewear’s payout ratio is currently 89.29%.

Gildan Activewear News Roundup

Here’s some of the latest news about GIL:

• Positive Sentiment: CEO Glenn Chamandy was reported to be buying Gildan shares, which may be viewed as a sign of insider confidence. Article: Glenn Chamandy buying at Gildan Activewear
• Neutral Sentiment: A shareholder-alert report says Gildan reported rising sales and reaffirmed its 2026 outlook, but those points have not displaced investor concerns about the allegations and recent results. Article: GIL Shareholder Alert
• Negative Sentiment: Zacks Research cut its rating on Gildan from “Hold” to “Strong Sell,” adding to the bearish tone. The supplied performance data also notes that the latest quarter missed consensus on both earnings and revenue. Article: Zacks Research rating

About Gildan Activewear

Gildan Activewear Inc. is a Canadian apparel manufacturer headquartered in Montreal. Founded in 1984, the company produces and sells basic apparel, including T-shirts, fleece, underwear, socks and hosiery. Its brands include Gildan, American Apparel and Comfort Colors. The company serves wholesale distributors, screen printers, retailers and other customers, supplying products for both imprinting and everyday wear. Its vertically integrated operations span the manufacturing process, from yarn production and fabric-making to garment assembly and distribution.