Metis Global Partners LLC Sells 220 Shares of Gildan Activewear Inc. (NYSE:GIL)

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

Several other institutional investors also recently bought and sold shares of the company. Fifth Third Bancorp increased its position in shares of Gildan Activewear by 61.8% during the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock valued at $41,000 after acquiring an additional 333 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Gildan Activewear by 899.0% in the 4th quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock worth $47,000 after purchasing an additional 908 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Gildan Activewear by 561.9% in the fourth quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker’s stock worth $67,000 after purchasing an additional 1,208 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Gildan Activewear by 80.1% during the fourth quarter. Blue Trust Inc. now owns 1,459 shares of the textile maker’s stock valued at $69,000 after purchasing an additional 649 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Gildan Activewear during the fourth quarter valued at $165,000. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Stock Up 0.3 %

GIL opened at $51.05 on Thursday. Gildan Activewear Inc. has a fifty-two week low of $32.23 and a fifty-two 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. The stock has a market cap of $7.76 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 1.76 and a beta of 1.41. The firm’s fifty day moving average is $50.53 and its 200 day moving average is $48.34.

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

Gildan Activewear Increases Dividend

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

Analysts Set New Price Targets

Several research firms have issued reports on GIL. BMO Capital Markets upped their target price on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Citigroup boosted their target price on shares of Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Canaccord Genuity Group raised their price target on Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. UBS Group upped their price objective on Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, TD Securities raised their target price on Gildan Activewear from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Gildan Activewear has an average rating of “Buy” and a consensus target price of $60.00.

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.