Key Points
- CEO Morris Goldfarb bought 40,000 G-III Apparel shares at an average price of $27.94, investing approximately $1.12 million and increasing his direct stake to 4.53 million shares.
- G-III reported quarterly earnings of $0.26 per share, beating estimates by $0.03, but revenue fell 9.7% year over year to $554.1 million. The company also maintains a $0.10 quarterly dividend, yielding about 1.4% annually.
- Analyst sentiment remains moderately positive, with an average rating of “Moderate Buy” and a $34.50 price target versus the stock’s reported $27.76 opening price; institutional investors own 92.13% of the company.
G-III Apparel Group, LTD. (NASDAQ:GIII - Get Free Report) CEO Morris Goldfarb acquired 40,000 shares of the company's stock in a transaction dated Monday, September 14th. The shares were bought at an average cost of $27.94 per share, with a total value of $1,117,600.00. Following the completion of the acquisition, the chief executive officer directly owned 4,527,675 shares in the company, valued at $126,503,239.50. The trade was a 0.89% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
G-III Apparel Group Stock Performance
Shares of NASDAQ:GIII opened at $27.76 on Wednesday. G-III Apparel Group, LTD. has a 52-week low of $24.61 and a 52-week high of $37.54. The firm has a fifty day moving average of $33.32 and a 200 day moving average of $31.67. The firm has a market capitalization of $1.19 billion, a PE ratio of 9.13 and a beta of 1.27.
G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings results on Wednesday, September 2nd. The textile maker reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.03. G-III Apparel Group had a return on equity of 5.53% and a net margin of 4.75%.The business had revenue of $554.09 million for the quarter, compared to the consensus estimate of $570.37 million. During the same quarter last year, the business posted $0.25 earnings per share. The company's revenue for the quarter was down 9.7% on a year-over-year basis. G-III Apparel Group has set its Q3 2027 guidance at 1.350-1.450 EPS and its FY 2027 guidance at 2.200-2.300 EPS. On average, sell-side analysts forecast that G-III Apparel Group, LTD. will post 2.25 EPS for the current fiscal year.
G-III Apparel Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.40 annualized dividend and a dividend yield of 1.4%. G-III Apparel Group's dividend payout ratio is 13.16%.
Institutional Trading of G-III Apparel Group
A number of institutional investors have recently made changes to their positions in GIII. BlackRock Inc. purchased a new position in shares of G-III Apparel Group in the second quarter worth $232,832,000. Norges Bank purchased a new stake in G-III Apparel Group during the 4th quarter valued at $36,200,000. LSV Asset Management boosted its position in G-III Apparel Group by 8.1% during the 4th quarter. LSV Asset Management now owns 1,237,469 shares of the textile maker's stock valued at $35,837,000 after buying an additional 93,236 shares during the period. Bank of America Corp DE bought a new stake in G-III Apparel Group in the 2nd quarter worth $14,963,000. Finally, Empowered Funds LLC grew its holdings in G-III Apparel Group by 3.8% in the 1st quarter. Empowered Funds LLC now owns 286,375 shares of the textile maker's stock worth $7,933,000 after acquiring an additional 10,411 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company's stock.
Analyst Ratings Changes
A number of analysts recently weighed in on the company. KeyCorp restated 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. Telsey Advisory Group decreased their price target on shares of G-III Apparel Group from $38.00 to $32.00 and set a "market perform" rating on the stock in a research note on Thursday, September 3rd. Weiss Ratings restated a "buy (b-)" rating on shares of G-III Apparel Group in a report on Friday, September 4th. BTIG Research reaffirmed a "buy" rating and issued a $40.00 price objective on shares of G-III Apparel Group in a research note on Wednesday, September 2nd. Finally, Wall Street Zen downgraded shares of G-III Apparel Group from a "buy" rating to a "hold" rating in a research note on Sunday. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, G-III Apparel Group has an average rating of "Moderate Buy" and an average target price of $34.50.
Read Our Latest Research Report on G-III Apparel Group
G-III Apparel Group Company Profile
(
Get Free Report)
G-III Apparel Group, Ltd. is a global fashion company that designs, sources, and markets apparel, accessories, footwear, and related products. Its offerings include women's and men's clothing, handbags, footwear, outerwear, and other fashion products sold through department stores, specialty retailers, brand stores, and e-commerce channels.
The company owns and operates brands including DKNY, Donna Karan, Karl Lagerfeld, and Vilebrequin, and develops products under a portfolio of licensed brands.
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