Makena Capital Management LLC Boosts Stake in Gildan Activewear, Inc. $GIL

Key Points

• Makena Capital Management LLC increased its stake in Gildan Activewear by 47.2% in the first quarter, owning 241,205 shares worth approximately $10.67 million.
• Barclays raised its price target for Gildan Activewear from $51.00 to $56.00, contributing to a consensus rating of "Moderate Buy" with an average target price of $64.58.
• Gildan Activewear announced a quarterly dividend of $0.226 per share, reflecting an annualized dividend yield of 1.6% with a payout ratio of 28.57%.

Makena Capital Management LLC boosted its holdings in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 47.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 241,205 shares of the textile maker's stock after buying an additional 77,364 shares during the period. Gildan Activewear accounts for approximately 1.1% of Makena Capital Management LLC's holdings, making the stock its 21st biggest position. Makena Capital Management LLC owned about 0.16% of Gildan Activewear worth $10,666,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of GIL. Olde Wealth Management LLC purchased a new stake in Gildan Activewear in the 1st quarter worth $29,000. Versant Capital Management Inc increased its stake in Gildan Activewear by 510.7% in the 1st quarter. Versant Capital Management Inc now owns 745 shares of the textile maker's stock worth $33,000 after buying an additional 623 shares in the last quarter. GAMMA Investing LLC increased its stake in Gildan Activewear by 4,323.5% in the 1st quarter. GAMMA Investing LLC now owns 752 shares of the textile maker's stock worth $33,000 after buying an additional 735 shares in the last quarter. Blue Trust Inc. increased its stake in Gildan Activewear by 69.3% in the 1st quarter. Blue Trust Inc. now owns 1,336 shares of the textile maker's stock worth $59,000 after buying an additional 547 shares in the last quarter. Finally, Natixis increased its stake in Gildan Activewear by 423.8% in the 4th quarter. Natixis now owns 1,540 shares of the textile maker's stock worth $72,000 after buying an additional 1,246 shares in the last quarter. Hedge funds and other institutional investors own 82.83% of the company's stock.

Gildan Activewear Trading Down 0.7%

Shares of NYSE:GIL traded down $0.3820 during trading on Thursday, reaching $54.2180. The company's stock had a trading volume of 1,465,315 shares, compared to its average volume of 772,938. The company has a current ratio of 3.87, a quick ratio of 1.67 and a debt-to-equity ratio of 1.37. Gildan Activewear, Inc. has a 12 month low of $37.16 and a 12 month high of $57.76. The firm's 50 day simple moving average is $50.94 and its two-hundred day simple moving average is $48.50. The stock has a market capitalization of $8.09 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 1.81 and a beta of 1.17.

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

Gildan Activewear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 21st will be issued a $0.226 dividend. 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 1.7%. Gildan Activewear's dividend payout ratio (DPR) is presently 28.57%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GIL. TD Securities increased their price target on Gildan Activewear from $56.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Barclays increased their price objective on shares of Gildan Activewear from $51.00 to $56.00 and gave the company an "overweight" rating in a report on Friday, August 1st. BMO Capital Markets reissued an "outperform" rating on shares of Gildan Activewear in a report on Thursday, August 14th. Wall Street Zen raised shares of Gildan Activewear from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Citigroup set a $60.00 price objective on shares of Gildan Activewear and gave the company a "buy" rating in a report on Thursday, August 14th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $64.58.

Gildan Activewear Company 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.