Phocas Financial Corp. Increases Stock Position in G-III Apparel Group, LTD. $GIII

Phocas Financial Corp. increased its position in shares of G-III Apparel Group, LTD. (NASDAQ:GIII) by 77.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 244,406 shares of the textile maker’s stock after purchasing an additional 106,497 shares during the quarter. Phocas Financial Corp. owned approximately 0.58% of G-III Apparel Group worth $7,078,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GIII. Medina Value Partners LLC lifted its position in shares of G-III Apparel Group by 1,099.7% during the 3rd quarter. Medina Value Partners LLC now owns 682,090 shares of the textile maker’s stock worth $18,150,000 after buying an additional 625,237 shares in the last quarter. Norges Bank purchased a new stake in shares of G-III Apparel Group during the second quarter valued at approximately $10,366,000. Cerity Partners LLC purchased a new position in G-III Apparel Group in the second quarter worth $9,313,000. Hound Partners LLC grew its stake in G-III Apparel Group by 280.0% in the 3rd quarter. Hound Partners LLC now owns 478,909 shares of the textile maker’s stock valued at $12,744,000 after purchasing an additional 352,869 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of G-III Apparel Group during the 2nd quarter valued at $7,546,000. 92.13% of the stock is owned by institutional investors.

G-III Apparel Group Stock Performance

Shares of G-III Apparel Group stock opened at $28.00 on Monday. The stock has a market capitalization of $1.18 billion, a P/E ratio of 18.67 and a beta of 1.30. G-III Apparel Group, LTD. has a 52-week low of $20.33 and a 52-week high of $34.83. The stock’s 50-day simple moving average is $29.07 and its 200 day simple moving average is $28.77.

G-III Apparel Group (NASDAQ:GIII) last posted its earnings results on Thursday, March 12th. The textile maker reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.29). G-III Apparel Group had a return on equity of 6.70% and a net margin of 2.28%.The business had revenue of $771.49 million during the quarter, compared to analysts’ expectations of $791.98 million. During the same quarter in the previous year, the business earned $1.27 EPS. G-III Apparel Group’s revenue for the quarter was down 8.1% on a year-over-year basis. G-III Apparel Group has set its Q1 2027 guidance at -0.400–0.300 EPS and its FY 2027 guidance at 2.000-2.100 EPS. Equities research analysts forecast that G-III Apparel Group, LTD. will post 4.16 EPS for the current fiscal year.

G-III Apparel Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Monday, March 23rd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $0.40 dividend on an annualized basis and a yield of 1.4%. G-III Apparel Group’s payout ratio is presently 26.67%.

Analyst Ratings Changes

A number of brokerages recently weighed in on GIII. UBS Group cut their price target on shares of G-III Apparel Group from $30.00 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, March 17th. BTIG Research reiterated a “buy” rating and issued a $34.00 target price on shares of G-III Apparel Group in a research note on Wednesday, March 18th. Telsey Advisory Group reissued a “market perform” rating and set a $29.00 target price (down from $34.00) on shares of G-III Apparel Group in a research report on Monday, March 9th. Zacks Research cut shares of G-III Apparel Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of G-III Apparel Group in a research note on Friday, January 9th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $29.00.

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.