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

Pacer Advisors Inc. reduced its holdings in shares of G-III Apparel Group, LTD. (NASDAQ:GIII) by 16.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 294,427 shares of the textile maker’s stock after selling 56,930 shares during the period. Pacer Advisors Inc.’s holdings in G-III Apparel Group were worth $8,156,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GIII. Empowered Funds LLC lifted its position in shares of G-III Apparel Group by 3.8% in the first quarter. Empowered Funds LLC now owns 286,375 shares of the textile maker’s stock worth $7,933,000 after purchasing an additional 10,411 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in G-III Apparel Group in the first quarter valued at $932,000. Edgestream Partners L.P. bought a new position in G-III Apparel Group in the first quarter valued at $5,756,000. Quantinno Capital Management LP grew its position in G-III Apparel Group by 16.8% in the first quarter. Quantinno Capital Management LP now owns 16,690 shares of the textile maker’s stock valued at $462,000 after purchasing an additional 2,399 shares in the last quarter. Finally, Hound Partners LLC increased its stake in G-III Apparel Group by 3.4% in the 1st quarter. Hound Partners LLC now owns 115,853 shares of the textile maker’s stock valued at $3,209,000 after buying an additional 3,849 shares during the last quarter. 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’s 50-day moving average price is $34.51 and its two-hundred day moving average price is $31.32. The stock has a market cap of $1.54 billion, a P/E ratio of 12.89 and a beta of 1.28. G-III Apparel Group, LTD. has a twelve month low of $23.95 and a twelve month high of $37.54.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Friday, June 5th. The textile maker reported ($0.21) earnings per share (EPS) for the quarter, topping 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 company had revenue of $535.96 million during the quarter, compared to analysts’ expectations of $529.07 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The business’s revenue was down 8.2% on a year-over-year basis. 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 earnings per share 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. Investors of record on Monday, June 22nd were paid a $0.10 dividend. The ex-dividend date was Monday, June 22nd. This represents a $0.40 annualized dividend and a yield of 1.1%. G-III Apparel Group’s payout ratio is 14.13%.

Analyst Ratings Changes

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