Phocas Financial Corp. Buys 106,497 Shares of G-III Apparel Group, LTD. $GIII

Phocas Financial Corp. increased its stake in shares of G-III Apparel Group, LTD. (NASDAQ:GIII) by 77.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 244,406 shares of the textile maker’s stock after buying an additional 106,497 shares during the period. Phocas Financial Corp.’s holdings in G-III Apparel Group were worth $7,078,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in shares of G-III Apparel Group by 107.7% during the fourth quarter. GAMMA Investing LLC now owns 941 shares of the textile maker’s stock valued at $27,000 after buying an additional 488 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of G-III Apparel Group by 105.2% in the third quarter. EverSource Wealth Advisors LLC now owns 1,153 shares of the textile maker’s stock worth $31,000 after buying an additional 591 shares in the last quarter. Federated Hermes Inc. bought a new position in shares of G-III Apparel Group in the third quarter valued at approximately $40,000. Raymond James Financial Inc. bought a new position in shares of G-III Apparel Group in the second quarter valued at approximately $41,000. Finally, Strs Ohio purchased a new position in G-III Apparel Group during the first quarter valued at approximately $77,000. Institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. BTIG Research reaffirmed a “buy” rating and set a $34.00 target price on shares of G-III Apparel Group in a report on Wednesday, March 18th. Zacks Research lowered shares of G-III Apparel Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 17th. KeyCorp reaffirmed an “overweight” rating and issued a $35.00 price target (up from $33.00) on shares of G-III Apparel Group in a report on Wednesday, December 10th. UBS Group lowered their price objective on G-III Apparel Group from $30.00 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 17th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of G-III Apparel Group in a research note on Friday, January 9th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $29.00.

G-III Apparel Group Stock Performance

Shares of NASDAQ GIII opened at $28.00 on Monday. The business has a 50-day moving average of $29.07 and a 200-day moving average of $28.77. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 18.67 and a beta of 1.30. G-III Apparel Group, LTD. has a 12 month low of $20.33 and a 12 month high of $34.83.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Thursday, March 12th. The textile maker reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.29). G-III Apparel Group had a net margin of 2.28% and a return on equity of 6.70%. The company had revenue of $771.49 million for the quarter, compared to the consensus estimate of $791.98 million. During the same quarter in the previous year, the firm earned $1.27 earnings per share. The company’s revenue for the quarter was down 8.1% compared to the same quarter last year. 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. On average, analysts predict that G-III Apparel Group, LTD. will post 4.16 earnings per share for the current year.

G-III Apparel Group Dividend Announcement

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

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.