Nuveen LLC Makes New Investment in Gildan Activewear, Inc. $GIL

Key Points

• Nuveen LLC has acquired a new stake in Gildan Activewear, investing approximately $5.43 million for 122,919 shares, which accounts for about 0.08% of the company's total shares.
• Gildan Activewear received multiple analyst upgrades, including a price target increase to $68.00 by the Royal Bank of Canada, with an average recommendation of "Moderate Buy."
• The company reported $0.97 earnings per share for the last quarter, exceeding expectations, along with a year-over-year revenue increase of 6.5%.

Nuveen LLC purchased a new position in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 122,919 shares of the textile maker's stock, valued at approximately $5,433,000. Nuveen LLC owned approximately 0.08% of Gildan Activewear at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GIL. Olde Wealth Management LLC acquired a new stake in shares of Gildan Activewear during the first quarter worth approximately $29,000. Versant Capital Management Inc grew its position in shares of Gildan Activewear by 510.7% during the first 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 grew its position in shares of Gildan Activewear by 4,323.5% during the first 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. grew its position in shares of Gildan Activewear by 69.3% during the first 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, Aquatic Capital Management LLC acquired a new stake in shares of Gildan Activewear during the fourth quarter worth approximately $114,000. Institutional investors and hedge funds own 82.83% of the company's stock.

Gildan Activewear Stock Performance

Shares of NYSE GIL traded down $0.33 during midday trading on Friday, reaching $54.60. 622,143 shares of the company traded hands, compared to its average volume of 1,704,495. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.87 and a quick ratio of 1.67. The stock has a 50-day moving average price of $52.02 and a 200 day moving average price of $48.67. Gildan Activewear, Inc. has a 52 week low of $37.16 and a 52 week high of $57.76. The company has a market cap of $8.15 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 1.76 and a beta of 1.17.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings results on Thursday, July 31st. The textile maker reported $0.97 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $908.41 million. During the same period in the previous year, the business earned $0.74 earnings per share. Gildan Activewear'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. Sell-side analysts anticipate that Gildan Activewear, Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Thursday, August 21st. This represents a $0.90 annualized dividend and a yield of 1.7%. Gildan Activewear's payout ratio is 28.57%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GIL shares. Royal Bank Of Canada lifted their price objective on shares of Gildan Activewear from $61.00 to $68.00 and gave the stock an "outperform" rating in a report on Thursday, August 14th. UBS Group lifted 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. Wall Street Zen raised shares of Gildan Activewear from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. National Bankshares reaffirmed an "outperform" rating on shares of Gildan Activewear in a report on Thursday, August 14th. Finally, Cfra Research raised shares of Gildan Activewear to a "hold" rating in a report on Monday, August 4th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.