Pacer Advisors Inc. Sells 24,832 Shares of G-III Apparel Group, LTD. $GIII

Pacer Advisors Inc. reduced its position in G-III Apparel Group, LTD. (NASDAQ:GIII) by 6.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 351,357 shares of the textile maker’s stock after selling 24,832 shares during the quarter. Pacer Advisors Inc.’s holdings in G-III Apparel Group were worth $10,175,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of GIII. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in G-III Apparel Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,228 shares of the textile maker’s stock worth $635,000 after buying an additional 1,018 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of G-III Apparel Group by 8.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,197 shares of the textile maker’s stock worth $2,193,000 after acquiring an additional 6,062 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of G-III Apparel Group by 14.1% during the first quarter. Intech Investment Management LLC now owns 46,076 shares of the textile maker’s stock worth $1,260,000 after acquiring an additional 5,685 shares in the last quarter. Strs Ohio bought a new stake in shares of G-III Apparel Group in the 1st quarter worth approximately $77,000. Finally, First Trust Advisors LP lifted its holdings in shares of G-III Apparel Group by 15.7% in the 2nd quarter. First Trust Advisors LP now owns 154,445 shares of the textile maker’s stock worth $3,460,000 after acquiring an additional 20,984 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GIII has been the subject of a number of research reports. Weiss Ratings raised shares of G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. KeyCorp reiterated an “overweight” rating and issued a $40.00 target price (up from $35.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. 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 research note on Monday, June 8th. Zacks Research upgraded shares of G-III Apparel Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 15th. Finally, BTIG Research raised their price objective 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. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, G-III Apparel Group currently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

G-III Apparel Group Price Performance

NASDAQ GIII opened at $34.77 on Monday. G-III Apparel Group, LTD. has a 1 year low of $21.12 and a 1 year high of $36.53. The stock has a market capitalization of $1.47 billion, a PE ratio of 12.29 and a beta of 1.29. The business’s 50-day moving average is $31.65 and its 200 day moving average is $30.25.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results on Friday, June 5th. The textile maker reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.09. G-III Apparel Group had a return on equity of 5.59% and a net margin of 4.34%.The business had revenue of $535.96 million during the quarter, compared to analyst estimates of $529.07 million. During the same quarter in the prior year, the company posted $0.19 EPS. G-III Apparel Group’s quarterly revenue was down 8.2% compared to the same quarter last year. 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. As a group, equities research analysts anticipate that G-III Apparel Group, LTD. will post 2.23 earnings per share for the current year.

G-III Apparel Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Monday, June 22nd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, June 22nd. G-III Apparel Group’s dividend payout ratio is currently 14.13%.

G-III Apparel Group 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.