Edgestream Partners L.P. Buys New Stake in G-III Apparel Group, LTD. $GIII

Edgestream Partners L.P. purchased a new position in shares of G-III Apparel Group, LTD. (NASDAQ:GIII) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 207,810 shares of the textile maker’s stock, valued at approximately $5,756,000. Edgestream Partners L.P. owned about 0.49% of G-III Apparel Group at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted 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 in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in G-III Apparel Group during the fourth quarter worth approximately $34,000. Parallel Advisors LLC raised its holdings in G-III Apparel Group by 231.9% during 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of G-III Apparel Group during the 2nd quarter worth approximately $41,000. Finally, Strs Ohio acquired a new position in shares of 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.

G-III Apparel Group Price Performance

GIII stock opened at $36.69 on Friday. G-III Apparel Group, LTD. has a 12 month low of $23.01 and a 12 month high of $37.00. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 12.96 and a beta of 1.28. The company has a fifty day moving average price of $34.11 and a 200 day moving average price of $31.14.

G-III Apparel Group (NASDAQ:GIII) last announced its 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 net margin of 4.34% and a return on equity of 5.59%. The business had revenue of $535.96 million during the quarter, compared to analysts’ expectations of $529.07 million. During the same period in the prior year, the company earned $0.19 earnings per share. The business’s 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, analysts anticipate that G-III Apparel Group, LTD. will post 2.24 earnings per share for the current year.

G-III Apparel Group Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GIII shares. BTIG Research lifted their price target on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock a “buy” rating in a research note 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 note on Tuesday, June 9th. Zacks Research cut G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Telsey Advisory Group reissued a “market perform” rating and issued a $38.00 target price (up from $29.00) on shares of G-III Apparel Group in a report on Monday, June 8th. Finally, Wall Street Zen raised G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $33.00.

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.