Hsbc Holdings PLC Buys Shares of 97,372 G-III Apparel Group, LTD. $GIII

Hsbc Holdings PLC bought a new stake in G-III Apparel Group, LTD. (NASDAQ:GIII) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 97,372 shares of the textile maker’s stock, valued at approximately $3,245,000.

A number of other institutional investors have also recently made changes to their positions in GIII. Raymond James Financial Inc. purchased a new stake in shares of G-III Apparel Group during the second quarter worth approximately $41,000. Allworth Financial LP purchased a new position in G-III Apparel Group in the 2nd quarter valued at $50,000. Parallel Advisors LLC boosted its stake in G-III Apparel Group by 231.9% during the 4th quarter. Parallel Advisors LLC now owns 1,779 shares of the textile maker’s stock worth $52,000 after purchasing an additional 1,243 shares during the last quarter. Strs Ohio acquired a new stake in G-III Apparel Group during the 1st quarter worth $77,000. Finally, State of Wyoming purchased a new stake in shares of G-III Apparel Group during the second quarter worth $80,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GIII shares. 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, June 8th. Zacks Research lowered shares of G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. 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. Wall Street Zen downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Finally, BTIG Research raised their target price on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Three research 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, G-III Apparel Group presently has a consensus rating of “Hold” and an average target price of $33.00.

G-III Apparel Group Trading Up 0.3%

G-III Apparel Group stock opened at $33.46 on Friday. G-III Apparel Group, LTD. has a 12-month low of $24.61 and a 12-month high of $37.54. The stock has a market cap of $1.41 billion, a P/E ratio of 11.82 and a beta of 1.28. The company has a 50-day moving average price of $34.56 and a 200 day moving average price of $31.85.

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

G-III Apparel Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders 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 yield of 1.2%. G-III Apparel Group’s dividend payout ratio (DPR) is 14.13%.

G-III Apparel Group 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.