Metis Global Partners LLC Cuts Stock Position in Gildan Activewear Inc. (NYSE:GIL)

Metis Global Partners LLC decreased its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,118 shares of the textile maker’s stock after selling 220 shares during the quarter. Metis Global Partners LLC’s holdings in Gildan Activewear were worth $382,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Janus Henderson Group PLC raised its position in shares of Gildan Activewear by 3.6% during the 3rd quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker’s stock valued at $322,298,000 after buying an additional 240,375 shares in the last quarter. Simcoe Capital Management LLC lifted its stake in shares of Gildan Activewear by 10.5% in the 3rd quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock valued at $112,492,000 after purchasing an additional 226,695 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Gildan Activewear by 2.8% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,618,420 shares of the textile maker’s stock valued at $76,244,000 after purchasing an additional 44,725 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Gildan Activewear by 545.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock valued at $57,403,000 after purchasing an additional 1,022,695 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Gildan Activewear by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 637,407 shares of the textile maker’s stock valued at $29,708,000 after buying an additional 41,735 shares during the period. Institutional investors own 82.83% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Canaccord Genuity Group lifted their price objective on shares of Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Citigroup lifted their price target on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. CIBC increased their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. TD Securities boosted their target price on Gildan Activewear from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Stifel Nicolaus raised their price target on Gildan Activewear from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Gildan Activewear currently has an average rating of “Buy” and an average target price of $60.00.

Gildan Activewear Stock Up 0.3 %

Shares of NYSE GIL opened at $51.05 on Thursday. The stock has a 50 day moving average price of $50.53 and a 200 day moving average price of $48.34. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.76 and a beta of 1.41. Gildan Activewear Inc. has a 52-week low of $32.23 and a 52-week high of $55.39. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The firm had revenue of $822.00 million for the quarter, compared to the consensus estimate of $805.75 million. During the same period in the previous year, the company posted $0.75 EPS. Gildan Activewear’s quarterly revenue was up 5.0% compared to the same quarter last year. Sell-side analysts expect that Gildan Activewear Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Wednesday, March 12th will be paid a $0.226 dividend. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, March 12th. This represents a $0.90 dividend on an annualized basis and a yield of 1.77%. Gildan Activewear’s payout ratio is 36.00%.

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.