Metis Global Partners LLC Grows Position in Gildan Activewear, Inc. $GIL

Metis Global Partners LLC increased its position in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 12.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,481 shares of the textile maker’s stock after purchasing an additional 964 shares during the period. Metis Global Partners LLC’s holdings in Gildan Activewear were worth $418,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Savant Capital LLC boosted its holdings in shares of Gildan Activewear by 6.8% during the 2nd quarter. Savant Capital LLC now owns 8,077 shares of the textile maker’s stock valued at $398,000 after buying an additional 512 shares in the last quarter. Washburn Capital Management Inc. purchased a new position in Gildan Activewear during the 2nd quarter valued at about $202,000. Bank of New York Mellon Corp lifted its position in Gildan Activewear by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 254,002 shares of the textile maker’s stock valued at $12,507,000 after acquiring an additional 6,591 shares during the period. Assetmark Inc. boosted its stake in Gildan Activewear by 5,200.0% during the second quarter. Assetmark Inc. now owns 1,113 shares of the textile maker’s stock worth $55,000 after acquiring an additional 1,092 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its holdings in Gildan Activewear by 33.3% in the second quarter. Arkadios Wealth Advisors now owns 8,442 shares of the textile maker’s stock worth $416,000 after purchasing an additional 2,107 shares during the period. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Price Performance

GIL opened at $58.55 on Thursday. The company’s 50-day simple moving average is $58.00 and its two-hundred day simple moving average is $52.93. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.67 and a current ratio of 3.87. The stock has a market capitalization of $8.73 billion, a P/E ratio of 18.70, a P/E/G ratio of 1.93 and a beta of 1.22. Gildan Activewear, Inc. has a 52-week low of $37.16 and a 52-week high of $62.56.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Wednesday, October 29th. The textile maker reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.02. The firm had revenue of $910.60 million during the quarter, compared to analysts’ expectations of $925.24 million. Gildan Activewear had a net margin of 14.13% and a return on equity of 35.90%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 earnings per share. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. As a group, analysts predict that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be issued a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, November 19th. Gildan Activewear’s dividend payout ratio is presently 28.75%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada raised their target price on shares of Gildan Activewear from $68.00 to $71.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Barclays restated an “overweight” rating and issued a $70.00 price target (up previously from $64.00) on shares of Gildan Activewear in a research note on Thursday, October 30th. TD Securities reiterated a “buy” rating and set a $74.00 price objective on shares of Gildan Activewear in a research note on Thursday, October 30th. BMO Capital Markets reissued an “outperform” rating on shares of Gildan Activewear in a report on Thursday, August 14th. Finally, TD Cowen increased their target price on Gildan Activewear from $67.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Twelve investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $72.15.

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.