Hsbc Holdings PLC Boosts Stock Holdings in G-III Apparel Group, LTD. $GIII

Hsbc Holdings PLC grew its holdings in G-III Apparel Group, LTD. (NASDAQ:GIII) by 46.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 128,096 shares of the textile maker’s stock after purchasing an additional 40,485 shares during the period. Hsbc Holdings PLC owned approximately 0.30% of G-III Apparel Group worth $3,756,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position 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. raised its stake in shares of G-III Apparel Group by 3.4% during 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 during the period. Norges Bank purchased a new stake in G-III Apparel Group during the 4th quarter worth about $36,200,000. LSV Asset Management lifted its holdings in G-III Apparel Group by 8.1% during 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake 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 hedge funds and other institutional investors.

G-III Apparel Group Price Performance

Shares of GIII opened at $34.10 on Monday. G-III Apparel Group, LTD. has a 1-year low of $22.26 and a 1-year high of $36.53. The company has a market capitalization of $1.44 billion, a P/E ratio of 12.05 and a beta of 1.29. The firm’s 50 day simple moving average is $32.09 and its 200 day simple moving average is $30.40.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results on Friday, June 5th. The textile maker reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $529.07 million. During the same quarter in the previous year, the company earned $0.19 EPS. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. 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, equities analysts anticipate that G-III Apparel Group, LTD. will post 2.23 earnings per share for the current year.

G-III Apparel Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Monday, June 22nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $0.40 annualized dividend and a yield of 1.2%. G-III Apparel Group’s payout ratio is 14.13%.

Wall Street Analysts Forecast Growth

GIII has been the subject of a number of analyst reports. Telsey Advisory Group restated a “market perform” rating and issued a $38.00 price objective (up from $29.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. KeyCorp reaffirmed an “overweight” rating and set a $40.00 target price (up from $35.00) on shares of G-III Apparel Group in a report on Monday, June 8th. UBS Group lowered their target price on shares of G-III Apparel Group from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 17th. BTIG Research raised their price target on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company a “buy” rating in a report on Friday, June 5th. Finally, Weiss Ratings upgraded shares of G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.00.

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.