Metis Global Partners LLC Acquires 3,639 Shares of Gildan Activewear Inc. (NYSE:GIL)

Metis Global Partners LLC raised its holdings in Gildan Activewear Inc. (NYSE:GILFree Report) (TSE:GIL) by 45.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,658 shares of the textile maker’s stock after buying an additional 3,639 shares during the quarter. Metis Global Partners LLC’s holdings in Gildan Activewear were worth $386,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in GIL. CIBC Asset Management Inc increased its position in Gildan Activewear by 0.8% during the 3rd quarter. CIBC Asset Management Inc now owns 180,453 shares of the textile maker’s stock valued at $5,073,000 after purchasing an additional 1,512 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Gildan Activewear by 61.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 37,351 shares of the textile maker’s stock valued at $1,046,000 after buying an additional 14,251 shares during the period. Byrne Asset Management LLC bought a new position in Gildan Activewear in the third quarter worth about $34,000. Todd Asset Management LLC lifted its holdings in Gildan Activewear by 4.3% in the third quarter. Todd Asset Management LLC now owns 97,500 shares of the textile maker’s stock worth $2,731,000 after buying an additional 4,000 shares during the period. Finally, Signaturefd LLC boosted its position in Gildan Activewear by 39.3% during the 3rd quarter. Signaturefd LLC now owns 4,104 shares of the textile maker’s stock valued at $115,000 after acquiring an additional 1,158 shares in the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Price Performance

Shares of NYSE GIL opened at $33.59 on Friday. The firm has a market cap of $5.66 billion, a P/E ratio of 11.35, a PEG ratio of 1.23 and a beta of 1.38. Gildan Activewear Inc. has a twelve month low of $26.98 and a twelve month high of $38.87. The company has a quick ratio of 0.92, a current ratio of 2.38 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average of $35.33 and a 200 day moving average of $34.16.

Gildan Activewear (NYSE:GILGet Free Report) (TSE:GIL) last announced its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Gildan Activewear had a return on equity of 24.00% and a net margin of 16.14%. The firm had revenue of $695.80 million for the quarter, compared to the consensus estimate of $692.94 million. During the same period in the prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, research analysts expect that Gildan Activewear Inc. will post 2.94 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Thursday, May 23rd will be issued a dividend of $0.205 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $0.82 annualized dividend and a dividend yield of 2.44%. Gildan Activewear’s payout ratio is 27.36%.

Analyst Ratings Changes

Several research analysts have recently issued reports on GIL shares. TD Securities increased their target price on Gildan Activewear from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Scotiabank raised their price objective on Gildan Activewear from $39.50 to $40.50 and gave the company a “sector outperform” rating in a research report on Friday, February 9th. Stifel Nicolaus upped their target price on shares of Gildan Activewear from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, February 22nd. Canaccord Genuity Group lifted their price target on shares of Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, CIBC boosted their price objective on shares of Gildan Activewear from $38.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Gildan Activewear presently has a consensus rating of “Moderate Buy” and an average price target of $41.95.

Check Out Our Latest Stock Analysis on Gildan Activewear

Gildan Activewear Profile

(Free Report)

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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Institutional Ownership by Quarter for Gildan Activewear (NYSE:GIL)

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