Nuveen LLC Takes $5.43 Million Position in Gildan Activewear, Inc. $GIL

Nuveen LLC bought a new stake in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 122,919 shares of the textile maker’s stock, valued at approximately $5,433,000. Nuveen LLC owned about 0.08% of Gildan Activewear at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in GIL. The Manufacturers Life Insurance Company grew its holdings in shares of Gildan Activewear by 276.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker’s stock valued at $83,394,000 after purchasing an additional 1,300,121 shares during the last quarter. Genus Capital Management Inc. boosted its position in shares of Gildan Activewear by 191.7% during the first quarter. Genus Capital Management Inc. now owns 251,308 shares of the textile maker’s stock worth $11,109,000 after buying an additional 525,386 shares during the period. Millennium Management LLC boosted its position in shares of Gildan Activewear by 5,996.0% during the fourth quarter. Millennium Management LLC now owns 466,342 shares of the textile maker’s stock worth $21,935,000 after buying an additional 458,692 shares during the period. Alberta Investment Management Corp boosted its position in shares of Gildan Activewear by 28.7% during the first quarter. Alberta Investment Management Corp now owns 1,589,001 shares of the textile maker’s stock worth $70,240,000 after buying an additional 354,201 shares during the period. Finally, Forge First Asset Management Inc. boosted its position in shares of Gildan Activewear by 713.7% during the first quarter. Forge First Asset Management Inc. now owns 379,200 shares of the textile maker’s stock worth $16,781,000 after buying an additional 332,600 shares during the period. 82.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GIL has been the subject of several analyst reports. Cfra Research upgraded Gildan Activewear to a “hold” rating in a research report on Monday, August 4th. Barclays boosted their price objective on Gildan Activewear from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Canaccord Genuity Group boosted their price objective on Gildan Activewear from $60.00 to $67.00 and gave the stock a “buy” rating in a research report on Thursday, August 14th. Scotiabank restated an “outperform” rating on shares of Gildan Activewear in a research report on Thursday, August 14th. Finally, Royal Bank Of Canada upped their target price on Gildan Activewear from $61.00 to $68.00 and gave the stock an “outperform” rating in a research 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. According to MarketBeat, Gildan Activewear currently has an average rating of “Moderate Buy” and a consensus price target of $64.58.

Gildan Activewear Stock Performance

GIL opened at $54.6730 on Tuesday. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 1.79 and a beta of 1.17. 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, Inc. has a 1-year low of $37.16 and a 1-year high of $57.76. The business has a 50 day moving average price of $51.39 and a two-hundred day moving average price of $48.53.

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

Gildan Activewear Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders 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 annualized dividend and a dividend yield of 1.7%. Gildan Activewear’s dividend payout ratio is currently 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.