Evolve Private Wealth LLC Purchases Shares of 24,424 G-III Apparel Group, LTD. $GIII

Evolve Private Wealth LLC purchased a new stake in G-III Apparel Group, LTD. (NASDAQ:GIII) in the 2nd quarter, HoldingsChannel reports. The fund purchased 24,424 shares of the textile maker’s stock, valued at approximately $826,000.

Other hedge funds also recently made changes to their positions in the company. Landscape Capital Management L.L.C. acquired a new position in shares of G-III Apparel Group in the second quarter worth approximately $1,723,000. Ieq Capital LLC acquired a new stake in G-III Apparel Group during the 2nd quarter valued at approximately $1,625,000. Allworth Financial LP bought a new position in G-III Apparel Group during the 2nd quarter worth approximately $50,000. Foster & Motley Inc. bought a new position in G-III Apparel Group during the 2nd quarter worth approximately $441,000. Finally, RHS Financial LLC acquired a new position in shares of G-III Apparel Group in the 2nd quarter worth approximately $327,000. 92.13% of the stock is currently owned by institutional investors.

G-III Apparel Group Stock Performance

Shares of GIII opened at $33.78 on Monday. The firm has a market cap of $1.43 billion, a PE ratio of 11.94 and a beta of 1.28. G-III Apparel Group, LTD. has a 52-week low of $24.61 and a 52-week high of $37.54. The business’s 50 day moving average price is $34.67 and its two-hundred day moving average price is $31.75.

G-III Apparel Group (NASDAQ:GIII) last announced 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. 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 company’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter last 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. Research analysts predict that G-III Apparel Group, LTD. will post 2.24 EPS for the current fiscal year.

G-III Apparel Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.40 annualized dividend and a yield of 1.2%. G-III Apparel Group’s dividend payout ratio is currently 14.13%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. BTIG Research upped their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 5th. KeyCorp reissued an “overweight” rating and set a $40.00 target price (up from $35.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. Weiss Ratings upgraded shares of G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th. Zacks Research cut shares of G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $33.00.

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.