Hsbc Holdings PLC Raises Stake in G-III Apparel Group, LTD. $GIII

Hsbc Holdings PLC boosted its position in G-III Apparel Group, LTD. (NASDAQ:GIII) by 46.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 128,096 shares of the textile maker’s stock after purchasing an additional 40,485 shares during the period. Hsbc Holdings PLC’s holdings in G-III Apparel Group were worth $3,756,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GIII. Dimensional Fund Advisors LP raised its stake in shares of G-III Apparel Group by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,936,957 shares of the textile maker’s stock worth $78,153,000 after acquiring an additional 15,500 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of G-III Apparel Group by 3.4% in the 3rd quarter. American Century Companies Inc. now owns 1,730,216 shares of the textile maker’s stock valued at $46,041,000 after purchasing an additional 57,440 shares in the last quarter. Norges Bank bought a new position in shares of G-III Apparel Group during the 4th quarter valued at $36,200,000. LSV Asset Management raised its position in G-III Apparel Group by 8.1% in the 4th quarter. LSV Asset Management now owns 1,237,469 shares of the textile maker’s stock worth $35,837,000 after purchasing an additional 93,236 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in G-III Apparel Group by 30.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,054,266 shares of the textile maker’s stock worth $28,054,000 after purchasing an additional 247,245 shares during the period. 92.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GIII has been the subject of several analyst reports. Telsey Advisory Group restated a “market perform” rating and set a $38.00 price target (up from $29.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. BTIG Research lifted their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Weiss Ratings raised G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. UBS Group dropped their target price on G-III Apparel Group from $30.00 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, March 17th. Finally, Zacks Research upgraded G-III Apparel Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $33.00.

G-III Apparel Group Stock Up 0.1%

NASDAQ:GIII opened at $34.10 on Monday. The firm’s fifty day simple moving average is $32.09 and its 200 day simple moving average is $30.40. The stock has a market cap of $1.44 billion, a P/E ratio of 12.05 and a beta of 1.29. G-III Apparel Group, LTD. has a twelve month low of $22.26 and a twelve month high of $36.53.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Friday, June 5th. The textile maker reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.09. G-III Apparel Group had a net margin of 4.34% and a return on equity of 5.59%. The business had revenue of $535.96 million during the quarter, compared to analyst estimates of $529.07 million. During the same period in the prior year, the business earned $0.19 EPS. The company’s revenue for the quarter 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. On average, analysts expect that G-III Apparel Group, LTD. will post 2.23 EPS for the current fiscal year.

G-III Apparel Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Monday, June 22nd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, June 22nd. G-III Apparel Group’s dividend payout ratio is presently 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.