122,919 Shares in Gildan Activewear, Inc. $GIL Purchased by Nuveen LLC

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 during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. 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 reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GIL. The Manufacturers Life Insurance Company raised its stake in Gildan Activewear by 276.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker's stock worth $83,394,000 after acquiring an additional 1,300,121 shares in the last quarter. Genus Capital Management Inc. increased its stake in Gildan Activewear by 191.7% in the first quarter. Genus Capital Management Inc. now owns 251,308 shares of the textile maker's stock valued at $11,109,000 after purchasing an additional 525,386 shares during the period. Millennium Management LLC increased its stake in Gildan Activewear by 5,996.0% in the fourth quarter. Millennium Management LLC now owns 466,342 shares of the textile maker's stock valued at $21,935,000 after purchasing an additional 458,692 shares during the period. Alberta Investment Management Corp increased its stake in Gildan Activewear by 28.7% in the first quarter. Alberta Investment Management Corp now owns 1,589,001 shares of the textile maker's stock valued at $70,240,000 after purchasing an additional 354,201 shares during the period. Finally, Forge First Asset Management Inc. increased its stake in Gildan Activewear by 713.7% in the first quarter. Forge First Asset Management Inc. now owns 379,200 shares of the textile maker's stock valued at $16,781,000 after purchasing an additional 332,600 shares during the period. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Citigroup set a $60.00 price objective on shares of Gildan Activewear and gave the company a "buy" rating in a research note on Thursday, August 14th. CIBC lifted their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an "outperformer" rating in a research note on Friday, August 1st. Wall Street Zen upgraded shares of Gildan Activewear from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Stifel Nicolaus lifted their price objective on shares of Gildan Activewear from $65.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. Finally, Barclays lifted their price objective on shares of Gildan Activewear from $51.00 to $56.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $64.58.

Gildan Activewear Stock Performance

Shares of NYSE:GIL traded down $0.33 during midday trading on Friday, hitting $54.60. The stock had a trading volume of 622,143 shares, compared to its average volume of 1,696,527. The company has a market capitalization of $8.15 billion, a PE ratio of 17.33, a P/E/G ratio of 1.75 and a beta of 1.17. The stock has a 50 day moving average price of $52.02 and a two-hundred day moving average price of $48.64. 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 1 year low of $37.16 and a 1 year high of $57.76.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its earnings results on Thursday, July 31st. The textile maker reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The business had revenue of $918.50 million for 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 quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 earnings per share. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. As a group, equities analysts predict that Gildan Activewear, Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 21st will be issued 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 yield of 1.7%. Gildan Activewear's payout ratio is currently 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.