FMR LLC Discloses 5.437% Passive Stake in Gildan Activewear
Ticker: GIL · Form: SC 13G · Filed: Feb 9, 2024 · CIK: 1061894
| Field | Detail |
|---|---|
| Company | Gildan Activewear INC. (GIL) |
| Form Type | SC 13G |
| Filed Date | Feb 9, 2024 |
| Risk Level | low |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, passive-investment, SC-13G, Gildan-Activewear
TL;DR
**FMR LLC just revealed a 5.437% stake in Gildan, a big vote of confidence!**
AI Summary
FMR LLC, a major investment management firm, and its principal owner, Abigail P. Johnson, have disclosed a significant passive stake in Gildan Activewear Inc. As of December 31, 2023, FMR LLC beneficially owns 9,363,129 shares of Gildan's common stock, representing 5.437% of the company. This filing indicates a substantial institutional vote of confidence in Gildan, suggesting that a major player sees value in the company's future, which could be a positive signal for current and prospective shareholders.
Why It Matters
This filing shows a major institutional investor, FMR LLC, believes Gildan Activewear is a good investment, potentially signaling stability and future growth to other investors.
Risk Assessment
Risk Level: low — This is a passive investment by a large institution, generally indicating confidence rather than immediate risk.
Analyst Insight
A smart investor would view this as a positive signal, suggesting that a major institutional investor sees long-term value in Gildan Activewear. This could warrant further research into Gildan's fundamentals and future prospects, as large passive stakes often precede periods of stability or growth.
Key Numbers
- 9,363,129 — Shares Beneficially Owned (Represents the total common stock of Gildan Activewear Inc. held by FMR LLC and Abigail P. Johnson.)
- 5.437% — Percent of Class (Indicates the significant ownership stake FMR LLC and Abigail P. Johnson have in Gildan Activewear Inc.)
Key Players & Entities
- FMR LLC (company) — reporting person and parent holding company
- Gildan Activewear Inc. (company) — issuer of the common stock
- Abigail P. Johnson (person) — reporting person, associated with FMR LLC
- 9,363,129 (dollar_amount) — shares beneficially owned by FMR LLC and Abigail P. Johnson
- 5.437% (dollar_amount) — percentage of class owned by FMR LLC and Abigail P. Johnson
Forward-Looking Statements
- Gildan Activewear Inc. may see increased investor confidence due to FMR LLC's significant stake. (Gildan Activewear Inc.) — medium confidence, target: Next 6-12 months
FAQ
Who is the primary entity reporting this ownership stake in Gildan Activewear Inc.?
The primary entity reporting this ownership stake is FMR LLC, a parent holding company based in Delaware, as stated in Item 1 and Item 2(a) of the filing.
What is the total number of common shares of Gildan Activewear Inc. beneficially owned by FMR LLC?
FMR LLC beneficially owns 9,363,129 shares of Gildan Activewear Inc. common stock, as detailed in Item 4(a) of the filing.
What percentage of Gildan Activewear Inc.'s common stock does FMR LLC's ownership represent?
FMR LLC's ownership represents 5.437% of the class of Gildan Activewear Inc.'s common stock, as indicated in Item 4(b) and Item 11 for both FMR LLC and Abigail P. Johnson.
Who else is listed as a reporting person in this SC 13G filing, besides FMR LLC?
Abigail P. Johnson is also listed as a reporting person in this SC 13G filing, alongside FMR LLC, as shown in the 'Reporting Person - Abigail P. Johnson' section.
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed pursuant to Rule 13d-1(b), as indicated by the checked box in the 'Check the appropriate box to designate the rule pursuant to which this Schedule is filed' section.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding Gildan Activewear Inc. (GIL).