Pacer Advisors Inc. Has $8.16 Million Position in G-III Apparel Group, LTD. $GIII

Pacer Advisors Inc. cut its stake in G-III Apparel Group, LTD. (NASDAQ:GIII) by 16.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 294,427 shares of the textile maker’s stock after selling 56,930 shares during the quarter. Pacer Advisors Inc. owned 0.70% of G-III Apparel Group worth $8,156,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Newbridge Financial Services Group Inc. bought a new position in G-III Apparel Group during the 4th quarter worth approximately $34,000. Raymond James Financial Inc. bought a new stake in G-III Apparel Group in the second quarter valued at approximately $41,000. Parallel Advisors LLC raised its holdings in G-III Apparel Group by 231.9% in the fourth quarter. Parallel Advisors LLC now owns 1,779 shares of the textile maker’s stock worth $52,000 after purchasing an additional 1,243 shares during the period. Strs Ohio acquired a new stake in G-III Apparel Group in the first quarter worth $77,000. Finally, Headlands Technologies LLC bought a new position in shares of G-III Apparel Group during the second quarter worth $109,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

G-III Apparel Group Stock Down 0.0%

G-III Apparel Group stock opened at $36.47 on Thursday. The company has a 50 day moving average of $34.51 and a 200-day moving average of $31.32. G-III Apparel Group, LTD. has a twelve month low of $23.95 and a twelve month high of $37.54. The stock has a market capitalization of $1.54 billion, a PE ratio of 12.89 and a beta of 1.28.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Friday, June 5th. The textile maker reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.09. The business had revenue of $535.96 million for the quarter, compared to analyst estimates of $529.07 million. G-III Apparel Group had a net margin of 4.34% and a return on equity of 5.59%. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period last year, the business posted $0.19 earnings per share. G-III Apparel Group has set its FY 2027 guidance at 2.150-2.250 EPS and its Q2 2027 guidance at 0.150-0.250 EPS. Equities analysts anticipate that G-III Apparel Group, LTD. will post 2.24 EPS for the current fiscal year.

G-III Apparel Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Monday, June 22nd were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. G-III Apparel Group’s dividend payout ratio (DPR) is currently 14.13%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Telsey Advisory Group reissued a “market perform” rating and issued a $38.00 price target (up from $29.00) on shares of G-III Apparel Group in a report on Monday, June 8th. Zacks Research downgraded G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Wall Street Zen upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. BTIG Research boosted their target price on G-III Apparel Group from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Finally, Weiss Ratings raised G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $33.00.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. is a global fashion company engaged in the design, sourcing, marketing and distribution of women’s and men’s apparel, outerwear, footwear, handbags and fashion accessories. Founded in 1956 and headquartered in New York City, the company has grown from an importer of ladies’ apparel into a diversified apparel business with a portfolio of owned and licensed brands.

The company’s product offerings span a broad spectrum of price points and styles, including formal and casual outerwear, sportswear, performance wear and contemporary fashion.