1,250,000 Shares in G-III Apparel Group, LTD. $GIII Acquired by Norges Bank

by · The Markets Daily

Norges Bank bought a new position in G-III Apparel Group, LTD. (NASDAQ:GIII – Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 1,250,000 shares of the textile maker’s stock, valued at approximately $36,200,000. Norges Bank owned approximately 2.96% of G-III Apparel Group as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of G-III Apparel Group by 107.7% during the fourth quarter. GAMMA Investing LLC now owns 941 shares of the textile maker’s stock valued at $27,000 after buying an additional 488 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of G-III Apparel Group by 105.2% during the third quarter. EverSource Wealth Advisors LLC now owns 1,153 shares of the textile maker’s stock valued at $31,000 after buying an additional 591 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of G-III Apparel Group during the fourth quarter valued at $34,000. Federated Hermes Inc. purchased a new stake in shares of G-III Apparel Group during the third quarter valued at $40,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of G-III Apparel Group during the second quarter valued at $41,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GIII has been the topic of a number of research analyst reports. BTIG Research boosted 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 report on Friday. KeyCorp reiterated an “overweight” rating and issued a $40.00 target price (up from $35.00) on shares of G-III Apparel Group in a research report on Monday. Telsey Advisory Group reiterated a “market perform” rating and issued a $38.00 target price (up from $29.00) on shares of G-III Apparel Group in a research report on Monday. UBS Group dropped their target price on G-III Apparel Group from $30.00 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 17th. Finally, Zacks Research upgraded G-III Apparel Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $33.00.

Get Our Latest Research Report on GIII

G-III Apparel Group Price Performance

Shares of NASDAQ:GIII opened at $34.92 on Tuesday. G-III Apparel Group, LTD. has a 1 year low of $20.33 and a 1 year high of $36.53. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 12.34 and a beta of 1.29. The business’s 50 day moving average price is $30.42 and its 200-day moving average price is $29.87.

G-III Apparel Group (NASDAQ:GIII – Get Free Report) last announced its earnings results on Friday, June 5th. The textile maker reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.09. G-III Apparel Group had a return on equity of 5.65% 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 quarter last year, the firm posted $0.19 EPS. The business’s revenue 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, sell-side analysts expect that G-III Apparel Group, LTD. will post 2.2 earnings per share for the current 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. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. G-III Apparel Group’s dividend payout ratio (DPR) is currently 26.67%.

About G-III Apparel Group

(Free Report)

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.

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