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

Sanctuary Advisors LLC bought a new position in G-III Apparel Group, LTD. (NASDAQ:GIII) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 23,813 shares of the textile maker’s stock, valued at approximately $803,000.

Several other institutional investors also recently bought and sold shares of GIII. BlackRock Inc. acquired a new stake in shares of G-III Apparel Group during the second quarter worth $232,832,000. Dimensional Fund Advisors LP grew its position in shares of G-III Apparel Group by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,936,957 shares of the textile maker’s stock valued at $78,153,000 after purchasing an additional 15,500 shares during the period. Norges Bank acquired a new position in G-III Apparel Group in the fourth quarter valued at $36,200,000. LSV Asset Management increased its stake in G-III Apparel Group by 8.1% in the fourth quarter. LSV Asset Management now owns 1,237,469 shares of the textile maker’s stock valued at $35,837,000 after purchasing an additional 93,236 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in G-III Apparel Group by 30.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,054,266 shares of the textile maker’s stock worth $28,054,000 after buying an additional 247,245 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GIII shares. BTIG Research raised their price target on 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 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. Telsey Advisory Group reiterated a “market perform” rating and set a $38.00 price objective (up from $29.00) on shares of G-III Apparel Group in a report on Monday, June 8th. KeyCorp reiterated an “overweight” rating and set a $40.00 price objective (up from $35.00) on shares of G-III Apparel Group in a report on Monday, June 8th. Finally, Wall Street Zen downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Three equities research 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. According to MarketBeat, G-III Apparel Group currently has an average rating of “Hold” and a consensus target price of $33.00.

G-III Apparel Group Stock Up 0.3%

GIII stock opened at $33.46 on Friday. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 11.82 and a beta of 1.28. The business has a fifty day simple moving average of $34.56 and a 200-day simple moving average of $31.85. G-III Apparel Group, LTD. has a 52 week low of $24.61 and a 52 week high of $37.54.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Friday, June 5th. The textile maker reported ($0.21) earnings per share 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 firm had revenue of $535.96 million for the quarter, compared to analysts’ expectations of $529.07 million. During the same quarter last year, the firm earned $0.19 earnings per share. The firm’s revenue for the quarter 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 expect 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 15th. G-III Apparel Group’s payout ratio is currently 14.13%.

About G-III Apparel Group

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.