Evolve Private Wealth LLC Acquires Shares of 24,424 G-III Apparel Group, LTD. $GIII

Evolve Private Wealth LLC bought a new position in shares of G-III Apparel Group, LTD. (NASDAQ:GIII) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,424 shares of the textile maker’s stock, valued at approximately $826,000. Evolve Private Wealth LLC owned about 0.06% of G-III Apparel Group at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Illinois Municipal Retirement Fund raised its holdings in shares of G-III Apparel Group by 2.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 19,758 shares of the textile maker’s stock worth $547,000 after buying an additional 482 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in G-III Apparel Group by 3.1% in the second quarter. The Manufacturers Life Insurance Company now owns 19,407 shares of the textile maker’s stock valued at $435,000 after buying an additional 592 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in G-III Apparel Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,228 shares of the textile maker’s stock valued at $635,000 after acquiring an additional 1,018 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in G-III Apparel Group by 1.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 68,437 shares of the textile maker’s stock valued at $1,982,000 after acquiring an additional 1,094 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in G-III Apparel Group by 231.9% in the fourth quarter. Parallel Advisors LLC now owns 1,779 shares of the textile maker’s stock valued at $52,000 after acquiring an additional 1,243 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

G-III Apparel Group Stock Performance

NASDAQ:GIII opened at $33.78 on Monday. The stock’s 50-day moving average is $34.67 and its 200-day moving average is $31.75. G-III Apparel Group, LTD. has a 1-year low of $24.61 and a 1-year high of $37.54. The stock has a market cap of $1.43 billion, a P/E ratio of 11.94 and a beta of 1.28.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data 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 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 analyst estimates of $529.07 million. During the same quarter last year, the business earned $0.19 EPS. The firm’s quarterly 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. As a group, equities analysts forecast that G-III Apparel Group, LTD. will post 2.24 EPS for the current year.

G-III Apparel Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.40 annualized dividend and a dividend yield of 1.2%. G-III Apparel Group’s dividend payout ratio (DPR) is presently 14.13%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Telsey Advisory Group reissued a “market perform” rating and issued a $38.00 target price (up from $29.00) on shares of G-III Apparel Group in a report on Monday, June 8th. BTIG Research lifted 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. Wall Street Zen cut shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. KeyCorp reissued an “overweight” rating and issued a $40.00 price objective (up from $35.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. 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. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” 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.