G-III Apparel Group (NASDAQ:GIII) CEO Morris Goldfarb Acquires 40,000 Shares

G-III Apparel Group, LTD. (NASDAQ:GIII) CEO Morris Goldfarb acquired 40,000 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was purchased at an average price of $27.94 per share, with a total value of $1,117,600.00. Following the purchase, the chief executive officer owned 4,527,675 shares in the company, valued at approximately $126,503,239.50. The trade was a 0.89% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

G-III Apparel Group Stock Down 0.3%

G-III Apparel Group stock opened at $27.76 on Wednesday. G-III Apparel Group, LTD. has a 52 week low of $24.61 and a 52 week high of $37.54. The company’s 50 day moving average price is $33.32 and its two-hundred day moving average price is $31.67. The stock has a market cap of $1.19 billion, a P/E ratio of 9.13 and a beta of 1.27.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Wednesday, September 2nd. The textile maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. The company had revenue of $554.09 million during the quarter, compared to analyst estimates of $570.37 million. G-III Apparel Group had a return on equity of 5.53% and a net margin of 4.75%.G-III Apparel Group’s quarterly revenue was down 9.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share. G-III Apparel Group has set its Q3 2027 guidance at 1.350-1.450 EPS and its FY 2027 guidance at 2.200-2.300 EPS. On average, equities analysts anticipate that G-III Apparel Group, LTD. will post 2.25 EPS for the current year.

G-III Apparel Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, September 15th. G-III Apparel Group’s dividend payout ratio is 13.16%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Telsey Advisory Group lowered their target price on G-III Apparel Group from $38.00 to $32.00 and set a “market perform” rating on the stock in a research note on Thursday, September 3rd. KeyCorp restated an “overweight” rating and set a $40.00 price target (up from $35.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. Wall Street Zen downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Sunday. BTIG Research reaffirmed a “buy” rating and issued a $40.00 price objective on shares of G-III Apparel Group in a research report on Wednesday, September 2nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of G-III Apparel Group in a research note on Friday, September 4th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, G-III Apparel Group has a consensus rating of “Moderate Buy” and an average target price of $34.50.

Institutional Trading of G-III Apparel Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of G-III Apparel Group in the 2nd quarter valued at about $232,832,000. Norges Bank purchased a new position in shares of G-III Apparel Group during the fourth quarter worth about $36,200,000. Bank of America Corp DE bought a new position in shares of G-III Apparel Group in the second quarter worth approximately $14,963,000. Bank of New York Mellon Corp bought a new position in shares of G-III Apparel Group in the second quarter worth approximately $9,113,000. Finally, Empowered Funds LLC purchased a new stake in G-III Apparel Group in the second quarter valued at approximately $7,094,000. 92.13% of the stock is currently owned by institutional investors.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. is a global fashion company that designs, sources, and markets apparel, accessories, footwear, and related products. Its offerings include women’s and men’s clothing, handbags, footwear, outerwear, and other fashion products sold through department stores, specialty retailers, brand stores, and e-commerce channels.

The company owns and operates brands including DKNY, Donna Karan, Karl Lagerfeld, and Vilebrequin, and develops products under a portfolio of licensed brands.