Sanctuary Advisors LLC Purchases New Position in G-III Apparel Group, LTD. $GIII

Sanctuary Advisors LLC purchased a new position in G-III Apparel Group, LTD. (NASDAQ:GIII) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 23,806 shares of the textile maker’s stock, valued at approximately $659,000. Sanctuary Advisors LLC owned 0.06% of G-III Apparel Group at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GIII. GAMMA Investing LLC grew its holdings in G-III Apparel Group by 107.7% in the fourth quarter. GAMMA Investing LLC now owns 941 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 488 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in shares of G-III Apparel Group during the 4th quarter worth approximately $34,000. Raymond James Financial Inc. acquired a new position in shares of G-III Apparel Group during the 2nd quarter worth approximately $41,000. Parallel Advisors LLC lifted its position in shares of G-III Apparel Group by 231.9% during the 4th quarter. Parallel Advisors LLC now owns 1,779 shares of the textile maker’s stock valued at $52,000 after buying an additional 1,243 shares in the last quarter. Finally, Strs Ohio acquired a new stake in G-III Apparel Group in the 1st quarter valued at $77,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

GIII has been the subject of several recent analyst reports. Wall Street Zen raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. BTIG Research increased their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company a “buy” rating in a report on Friday, June 5th. Weiss Ratings upgraded shares of G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Telsey Advisory Group reissued a “market perform” rating and set a $38.00 target price (up from $29.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. Finally, KeyCorp restated an “overweight” rating and set a $40.00 price target (up from $35.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.00.

G-III Apparel Group Stock Up 2.8%

G-III Apparel Group stock opened at $35.93 on Tuesday. The company has a fifty day simple moving average of $33.68 and a 200-day simple moving average of $31.00. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 12.70 and a beta of 1.28. G-III Apparel Group, LTD. has a 52-week low of $23.01 and a 52-week high of $36.53.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Friday, June 5th. The textile maker reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.09. The company had revenue of $535.96 million during the quarter, compared to analysts’ expectations of $529.07 million. G-III Apparel Group had a net margin of 4.34% and a return on equity of 5.59%. G-III Apparel Group’s revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 EPS. 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. On average, research 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 business also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Monday, June 22nd were given a $0.10 dividend. The ex-dividend date was Monday, June 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.1%. G-III Apparel Group’s dividend payout ratio is 14.13%.

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.