G-III Apparel Group, LTD. $GIII Stock Holdings Lifted by Hsbc Holdings PLC

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Corient Private Wealth LLC acquired a new stake in G-III Apparel Group in the fourth quarter valued at approximately $425,000. DGS Capital Management LLC bought a new position in shares of G-III Apparel Group during the 4th quarter valued at $202,000. Mercer Global Advisors Inc. ADV raised its holdings in shares of G-III Apparel Group by 18.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 14,408 shares of the textile maker’s stock valued at $417,000 after purchasing an additional 2,248 shares in the last quarter. Summit Global Investments acquired a new stake in shares of G-III Apparel Group in the 4th quarter valued at $231,000. Finally, State of Tennessee Department of Treasury lifted its stake in shares of G-III Apparel Group by 107.8% in the 4th quarter. State of Tennessee Department of Treasury now owns 20,396 shares of the textile maker’s stock valued at $599,000 after purchasing an additional 10,581 shares during the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

G-III Apparel Group Stock Performance

NASDAQ GIII opened at $34.17 on Friday. G-III Apparel Group, LTD. has a twelve month low of $22.91 and a twelve month high of $36.53. The stock has a market cap of $1.44 billion, a PE ratio of 12.07 and a beta of 1.28. The firm has a 50-day simple moving average of $32.53 and a 200 day simple moving average of $30.55.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Friday, June 5th. The textile maker reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.09. G-III Apparel Group had a return on equity of 5.59% and a net margin of 4.34%.The firm had revenue of $535.96 million for the quarter, compared to analyst estimates of $529.07 million. During the same period in the previous year, the company posted $0.19 earnings per share. The company’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. Research analysts forecast that G-III Apparel Group, LTD. will post 2.24 earnings per share for the current fiscal year.

G-III Apparel Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Monday, June 22nd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, June 22nd. G-III Apparel Group’s dividend payout ratio is presently 14.13%.

Analyst Ratings Changes

Several research firms have weighed in on GIII. Telsey Advisory Group restated a “market perform” rating and set a $38.00 target price (up from $29.00) on shares of G-III Apparel Group in a report on Monday, June 8th. Zacks Research raised G-III Apparel Group from a “hold” rating to a “strong-buy” rating in a report on Monday, June 15th. Weiss Ratings raised G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th. BTIG Research raised their price objective on 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. Finally, Wall Street Zen upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, G-III Apparel Group presently has a consensus rating of “Moderate Buy” and an average price target 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.