Hsbc Holdings PLC Has $3.76 Million Stock Holdings in G-III Apparel Group, LTD. $GIII

Hsbc Holdings PLC boosted its holdings in shares of G-III Apparel Group, LTD. (NASDAQ:GIII) by 46.2% in the fourth quarter, Holdings Channel reports. The firm owned 128,096 shares of the textile maker’s stock after purchasing an additional 40,485 shares during the quarter. Hsbc Holdings PLC’s holdings in G-III Apparel Group were worth $3,756,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of G-III Apparel Group by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,228 shares of the textile maker’s stock worth $635,000 after buying an additional 1,018 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in G-III Apparel Group by 8.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,197 shares of the textile maker’s stock valued at $2,193,000 after acquiring an additional 6,062 shares during the period. Intech Investment Management LLC grew its position in G-III Apparel Group by 14.1% in the first quarter. Intech Investment Management LLC now owns 46,076 shares of the textile maker’s stock valued at $1,260,000 after acquiring an additional 5,685 shares during the period. Strs Ohio acquired a new position in G-III Apparel Group during the first quarter worth $77,000. Finally, First Trust Advisors LP raised its stake in G-III Apparel Group by 15.7% during the second quarter. First Trust Advisors LP now owns 154,445 shares of the textile maker’s stock worth $3,460,000 after acquiring an additional 20,984 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GIII. Wall Street Zen upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. KeyCorp reiterated an “overweight” rating and set a $40.00 target price (up from $35.00) on shares of G-III Apparel Group in a research 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. Zacks Research upgraded shares of G-III Apparel Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 15th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $38.00 price objective (up from $29.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

G-III Apparel Group Price Performance

GIII stock opened at $34.17 on Friday. The company has a 50 day moving average price of $32.53 and a 200 day moving average price of $30.55. G-III Apparel Group, LTD. has a fifty-two week low of $22.91 and a fifty-two week high of $36.53. The stock has a market capitalization of $1.44 billion, a PE ratio of 12.07 and a beta of 1.28.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Friday, June 5th. The textile maker reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.09. The firm had revenue of $535.96 million for the quarter, compared to analyst estimates of $529.07 million. G-III Apparel Group had a return on equity of 5.59% and a net margin of 4.34%.The business’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period last year, the company earned $0.19 EPS. 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 expect that G-III Apparel Group, LTD. will post 2.24 earnings per share for the current fiscal year.

G-III Apparel Group Dividend Announcement

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

About G-III Apparel Group

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.