Kovitz Investment Group Partners LLC Purchases Shares of 15,537 Gildan Activewear, Inc. $GIL

Key Points

• Kovitz Investment Group Partners LLC acquired 15,537 shares of Gildan Activewear for roughly $687,000 in the first quarter, highlighting increased institutional interest in the company.
• Several analysts have raised their price targets for Gildan Activewear, with Stifel Nicolaus and UBS Group setting new targets at $75.00 and $70.00, respectively, while maintaining "buy" ratings.
• Gildan Activewear announced a quarterly dividend of $0.226, reflecting a yield of 1.7% and a dividend payout ratio of 28.57%.

Kovitz Investment Group Partners LLC purchased a new stake in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 15,537 shares of the textile maker's stock, valued at approximately $687,000.

Other large investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Gildan Activewear in the 1st quarter valued at approximately $1,072,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Gildan Activewear in the 1st quarter valued at approximately $474,000. Aigen Investment Management LP grew its stake in shares of Gildan Activewear by 243.7% in the 1st quarter. Aigen Investment Management LP now owns 26,356 shares of the textile maker's stock valued at $1,165,000 after purchasing an additional 18,688 shares during the period. Polar Asset Management Partners Inc. grew its stake in shares of Gildan Activewear by 55.6% in the 4th quarter. Polar Asset Management Partners Inc. now owns 26,450 shares of the textile maker's stock valued at $1,244,000 after purchasing an additional 9,450 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of Gildan Activewear by 173.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,259 shares of the textile maker's stock valued at $542,000 after purchasing an additional 7,778 shares during the period. Institutional investors and hedge funds own 82.83% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GIL shares. Stifel Nicolaus upped their price objective on Gildan Activewear from $65.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. UBS Group upped their price objective on Gildan Activewear from $56.00 to $70.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Wall Street Zen upgraded Gildan Activewear from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Cfra Research upgraded Gildan Activewear to a "hold" rating in a research note on Monday, August 4th. Finally, TD Securities upped their price objective on Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $64.58.

Gildan Activewear Stock Down 3.4%

NYSE GIL opened at $54.6450 on Thursday. The firm has a market cap of $8.16 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 1.81 and a beta of 1.17. Gildan Activewear, Inc. has a one year low of $37.16 and a one year high of $57.76. The stock's 50 day simple moving average is $50.94 and its 200 day simple moving average is $48.50. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.87 and a quick ratio of 1.67.

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

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, August 21st will be given a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Thursday, August 21st. Gildan Activewear's dividend payout ratio (DPR) is presently 28.57%.

About Gildan Activewear

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.

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