Norges Bank Invests $10.37 Million in G-III Apparel Group, LTD. $GIII

Norges Bank acquired a new stake in shares of G-III Apparel Group, LTD. (NASDAQ:GIII) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 462,754 shares of the textile maker’s stock, valued at approximately $10,366,000. Norges Bank owned about 1.07% of G-III Apparel Group as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its holdings in shares of G-III Apparel Group by 5,154.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,156 shares of the textile maker’s stock valued at $32,000 after buying an additional 1,134 shares during the last quarter. Byrne Asset Management LLC purchased a new position in G-III Apparel Group in the 2nd quarter worth approximately $28,000. Strs Ohio bought a new position in G-III Apparel Group in the 1st quarter valued at approximately $77,000. Traub Capital Management LLC purchased a new stake in G-III Apparel Group during the 2nd quarter valued at $67,000. Finally, Quarry LP increased its holdings in shares of G-III Apparel Group by 176.1% in the 1st quarter. Quarry LP now owns 3,073 shares of the textile maker’s stock worth $84,000 after purchasing an additional 1,960 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GIII shares. Telsey Advisory Group reaffirmed a “market perform” rating and set a $30.00 price target on shares of G-III Apparel Group in a report on Tuesday. UBS Group reissued a “neutral” rating and issued a $28.00 target price (up previously from $26.00) on shares of G-III Apparel Group in a research report on Thursday, December 4th. KeyCorp raised their price target on shares of G-III Apparel Group from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, September 5th. Zacks Research upgraded shares of G-III Apparel Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of G-III Apparel Group in a research report on Tuesday, October 14th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $30.67.

G-III Apparel Group Stock Up 3.9%

G-III Apparel Group stock opened at $30.82 on Wednesday. G-III Apparel Group, LTD. has a 52-week low of $20.33 and a 52-week high of $36.18. The company has a market cap of $1.30 billion, a P/E ratio of 7.63 and a beta of 1.30. The business has a 50-day simple moving average of $27.92 and a two-hundred day simple moving average of $26.03.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Tuesday, December 9th. The textile maker reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.30. The company had revenue of $988.65 million for the quarter, compared to the consensus estimate of $1.01 billion. G-III Apparel Group had a net margin of 5.84% and a return on equity of 11.53%. The firm’s revenue was down 9.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.59 earnings per share. G-III Apparel Group has set its FY 2026 guidance at 2.800-2.900 EPS. Research analysts anticipate that G-III Apparel Group, LTD. will post 4.16 EPS for the current fiscal year.

G-III Apparel Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 29th. Stockholders of record on Monday, December 15th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.3%.

G-III Apparel Group Profile

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through two segments, Wholesale Operations and Retail Operations. Its products include outerwear, dresses, sportswear, swimwear, women's suits, and women's performance wear; and women's handbags, footwear, small leather goods, cold weather accessories, and luggage.