Shares of G-III Apparel Group, LTD. (NASDAQ:GIII – Get Free Report) saw strong trading volume on Thursday . Approximately 318,747 shares changed hands during mid-day trading, a decline of 40% from the previous session’s volume of 534,828 shares.The stock last traded at $35.7910 and had previously closed at $35.21.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on GIII shares. Wall Street Zen upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. KeyCorp reissued an “overweight” rating and set a $40.00 price objective (up from $35.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. Zacks Research cut G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. BTIG Research upped their target price 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. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $38.00 target price (up from $29.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.00.
Check Out Our Latest Stock Report on GIII
G-III Apparel Group Trading Up 1.9%
G-III Apparel Group (NASDAQ:GIII – Get Free Report) last posted 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. The company had revenue of $535.96 million during the quarter, compared to the consensus estimate of $529.07 million. G-III Apparel Group had a net margin of 4.34% and a return on equity of 5.59%. The firm’s revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 EPS. 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. On average, analysts anticipate that G-III Apparel Group, LTD. will post 2.24 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 Wednesday, July 8th. Stockholders of record on Monday, June 22nd were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, June 22nd. G-III Apparel Group’s dividend payout ratio (DPR) is 14.13%.
Institutional Investors Weigh In On G-III Apparel Group
Several institutional investors and hedge funds have recently bought and sold shares of the business. Illinois Municipal Retirement Fund lifted its stake in shares of G-III Apparel Group by 2.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 19,758 shares of the textile maker’s stock valued at $547,000 after purchasing an additional 482 shares during the period. GAMMA Investing LLC grew its stake 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 worth $27,000 after purchasing an additional 488 shares during the period. SG Americas Securities LLC grew its stake in G-III Apparel Group by 2.8% in the fourth quarter. SG Americas Securities LLC now owns 20,970 shares of the textile maker’s stock worth $607,000 after purchasing an additional 570 shares during the period. The Manufacturers Life Insurance Company raised its holdings in G-III Apparel Group by 3.1% in the second quarter. The Manufacturers Life Insurance Company now owns 19,407 shares of the textile maker’s stock worth $435,000 after purchasing an additional 592 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in G-III Apparel Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,228 shares of the textile maker’s stock worth $635,000 after purchasing an additional 1,018 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.
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.
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