Simcoe Capital Management LLC Reduces Position in Gildan Activewear, Inc. $GIL

Simcoe Capital Management LLC reduced its position in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 12.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,891,464 shares of the textile maker’s stock after selling 273,636 shares during the quarter. Gildan Activewear comprises about 15.8% of Simcoe Capital Management LLC’s portfolio, making the stock its biggest position. Simcoe Capital Management LLC’s holdings in Gildan Activewear were worth $109,327,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GIL. Vanguard Group Inc. lifted its holdings in shares of Gildan Activewear by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 6,005,233 shares of the textile maker’s stock worth $346,928,000 after buying an additional 32,917 shares during the period. Mackenzie Financial Corp increased its stake in shares of Gildan Activewear by 9.6% during the third quarter. Mackenzie Financial Corp now owns 4,858,829 shares of the textile maker’s stock valued at $280,639,000 after buying an additional 424,809 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Gildan Activewear by 24.3% in the second quarter. The Manufacturers Life Insurance Company now owns 3,678,451 shares of the textile maker’s stock valued at $180,305,000 after acquiring an additional 718,896 shares in the last quarter. Norges Bank bought a new stake in shares of Gildan Activewear in the second quarter valued at about $101,409,000. Finally, Goldman Sachs Group Inc. lifted its stake in Gildan Activewear by 40.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,760,253 shares of the textile maker’s stock worth $77,838,000 after acquiring an additional 503,359 shares during the period. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Price Performance

Shares of GIL stock opened at $58.69 on Friday. Gildan Activewear, Inc. has a 1-year low of $37.16 and a 1-year high of $73.69. The stock’s 50-day moving average is $66.74 and its 200 day moving average is $61.31. The company has a market cap of $10.87 billion, a P/E ratio of 22.40 and a beta of 1.05. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.11 and a quick ratio of 1.05.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Thursday, February 26th. The textile maker reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.35). The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.01 billion. Gildan Activewear had a return on equity of 27.32% and a net margin of 11.02%.The business’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 earnings per share. Gildan Activewear has set its FY 2026 guidance at 4.200-4.400 EPS. Research analysts predict that Gildan Activewear, Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Thursday, March 19th will be given a $0.249 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, March 19th. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.23. Gildan Activewear’s payout ratio is presently 34.35%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GIL shares. Zacks Research cut shares of Gildan Activewear from a “hold” rating to a “strong sell” rating in a report on Monday, February 23rd. BMO Capital Markets boosted their price target on shares of Gildan Activewear from $70.00 to $78.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gildan Activewear in a research report on Monday, December 29th. Royal Bank Of Canada dropped their price objective on shares of Gildan Activewear from $79.00 to $78.00 and set an “outperform” rating on the stock in a research note on Monday, March 2nd. Finally, Scotiabank lifted their price objective on shares of Gildan Activewear from $72.00 to $74.00 and gave the company a “sector outperform” rating in a report on Monday, March 2nd. Thirteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.08.

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.