Lazard Asset Management LLC Decreases Stock Holdings in Gildan Activewear, Inc. $GIL

Lazard Asset Management LLC lowered its position in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 72.2% in the first quarter, HoldingsChannel.com reports. The firm owned 531,200 shares of the textile maker’s stock after selling 1,380,968 shares during the quarter. Lazard Asset Management LLC’s holdings in Gildan Activewear were worth $29,561,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Cumberland Partners Ltd raised its stake in Gildan Activewear by 1,307.7% in the first quarter. Cumberland Partners Ltd now owns 325,168 shares of the textile maker’s stock valued at $18,074,000 after buying an additional 302,068 shares in the last quarter. Cannell & Spears LLC lifted its holdings in Gildan Activewear by 4.7% during the 1st quarter. Cannell & Spears LLC now owns 1,241,531 shares of the textile maker’s stock worth $69,027,000 after buying an additional 55,602 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Gildan Activewear by 0.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 91,967 shares of the textile maker’s stock worth $5,113,000 after acquiring an additional 444 shares in the last quarter. M.D. Sass LLC acquired a new position in shares of Gildan Activewear during the 1st quarter worth about $22,065,000. Finally, Bank of Nova Scotia increased its holdings in shares of Gildan Activewear by 38.1% in the 1st quarter. Bank of Nova Scotia now owns 543,580 shares of the textile maker’s stock valued at $30,264,000 after acquiring an additional 149,918 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. UBS Group reissued a “buy” rating on shares of Gildan Activewear in a research report on Friday, July 17th. Zacks Research raised Gildan Activewear from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. TD Securities reiterated a “buy” rating on shares of Gildan Activewear in a research note on Tuesday, June 16th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $77.00 price objective on shares of Gildan Activewear in a report on Friday, May 1st. Finally, Scotiabank restated a “sector outperform” rating and set a $65.00 price objective (down from $72.00) on shares of Gildan Activewear in a research report on Wednesday, June 17th. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.21.

Gildan Activewear Trading Up 2.2%

NYSE:GIL opened at $51.80 on Wednesday. The stock’s 50 day moving average price is $54.74 and its 200 day moving average price is $59.65. The company has a market capitalization of $9.59 billion, a PE ratio of 30.47 and a beta of 1.11. The company has a quick ratio of 1.17, a current ratio of 2.35 and a debt-to-equity ratio of 1.32. Gildan Activewear, Inc. has a 52-week low of $46.00 and a 52-week high of $73.69.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data 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 return on equity of 21.38% and a net margin of 6.10%.The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the business earned $0.59 earnings per share. The firm’s revenue for the quarter was up 63.8% on a year-over-year basis. Gildan Activewear has set its FY 2026 guidance at 4.200-4.400 EPS. On average, research analysts anticipate that Gildan Activewear, Inc. will post 4.25 EPS for the current year.

Gildan Activewear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 20th were issued a $0.249 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, May 20th. Gildan Activewear’s payout ratio is presently 58.24%.

Gildan Activewear 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.