Driehaus Capital Management LLC Acquires Shares of 192,000 Gildan Activewear, Inc. $GIL

Key Points

• Driehaus Capital Management LLC has acquired an $8.49 million stake in Gildan Activewear, Inc. during the first quarter, owning about 0.13% of the company as of the latest filing with the SEC.
• Gildan Activewear reported $0.97 earnings per share for the recent quarter, exceeding estimates and showing a 6.5% increase in revenue compared to the previous year, with guidance for FY 2025 set at $3.400-3.560 EPS.
• The company recently announced a quarterly dividend of $0.226 per share, reflecting an annual yield of 1.7% and a dividend payout ratio of 28.57%.

Driehaus Capital Management LLC bought a new stake in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 192,000 shares of the textile maker's stock, valued at approximately $8,488,000. Driehaus Capital Management LLC owned 0.13% of Gildan Activewear at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Gildan Activewear in the first quarter valued at approximately $1,072,000. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Gildan Activewear in the 1st quarter worth $474,000. PNC Financial Services Group Inc. raised its position in shares of Gildan Activewear by 173.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,259 shares of the textile maker's stock valued at $542,000 after buying an additional 7,778 shares in the last quarter. Aigen Investment Management LP lifted its holdings in shares of Gildan Activewear by 243.7% during the 1st quarter. Aigen Investment Management LP now owns 26,356 shares of the textile maker's stock worth $1,165,000 after acquiring an additional 18,688 shares during the last quarter. Finally, Polar Asset Management Partners Inc. grew its position in Gildan Activewear by 55.6% in the fourth quarter. Polar Asset Management Partners Inc. now owns 26,450 shares of the textile maker's stock worth $1,244,000 after acquiring an additional 9,450 shares in the last quarter. 82.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GIL has been the subject of a number of recent research reports. UBS Group boosted their price objective on shares of Gildan Activewear from $56.00 to $70.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. CIBC raised their price objective on Gildan Activewear from $56.00 to $60.00 and gave the company an "outperformer" rating in a research note on Friday, August 1st. Scotiabank reiterated an "outperform" rating on shares of Gildan Activewear in a report on Thursday, August 14th. Royal Bank Of Canada increased their target price on Gildan Activewear from $61.00 to $68.00 and gave the company an "outperform" rating in a report on Thursday, August 14th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Gildan Activewear presently has an average rating of "Moderate Buy" and a consensus price target of $64.58.

Gildan Activewear Stock Up 3.6%

Shares of GIL traded up $1.93 on Thursday, reaching $54.96. The stock had a trading volume of 396,168 shares, compared to its average volume of 775,620. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.67 and a current ratio of 3.87. Gildan Activewear, Inc. has a 12-month low of $37.16 and a 12-month high of $57.76. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 1.75 and a beta of 1.17. The company has a 50-day simple moving average of $52.39 and a 200-day simple moving average of $48.73.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its earnings results on Thursday, July 31st. The textile maker reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. The business had revenue of $918.50 million during the quarter, compared to the consensus estimate of $908.41 million. Gildan Activewear had a net margin of 14.55% and a return on equity of 34.31%. The business's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 earnings per share. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. Sell-side analysts predict that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Thursday, August 21st will be given a dividend of $0.226 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.6%. Gildan Activewear's payout ratio is presently 28.57%.

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.