Deutsche Bank AG Makes New Investment in G-III Apparel Group, LTD. $GIII

Key Points

• Deutsche Bank acquired 38,540 shares of G-III Apparel Group worth approximately $1.3 million, while institutional investors collectively own 92.13% of the company.
• Analyst sentiment is mixed: three analysts rate the stock Buy, three Hold and one Sell, resulting in a consensus Hold rating and an average price target of $33.
• G-III exceeded quarterly earnings expectations, reporting an adjusted loss of $0.21 per share versus the expected $0.30 loss, though revenue declined 8.2% year over year. The company also declared a quarterly dividend of $0.10 per share, yielding approximately 1.2% annually.

Deutsche Bank AG purchased a new position in shares of G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 38,540 shares of the textile maker's stock, valued at approximately $1,299,000. Deutsche Bank AG owned approximately 0.09% of G-III Apparel Group as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in GIII. Raymond James Financial Inc. acquired a new stake in G-III Apparel Group during the 2nd quarter worth approximately $41,000. Parallel Advisors LLC grew its stake in shares of 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 worth $52,000 after acquiring an additional 1,243 shares in the last quarter. Strs Ohio purchased a new stake in shares of G-III Apparel Group during the first quarter worth $77,000. State of Wyoming acquired a new stake in shares of G-III Apparel Group in the second quarter valued at $80,000. Finally, Headlands Technologies LLC acquired a new stake in shares of G-III Apparel Group in the second quarter valued at $109,000. Hedge funds and other institutional investors own 92.13% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on GIII. BTIG Research boosted their target price on 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. Telsey Advisory Group reiterated a "market perform" rating and issued a $38.00 price objective (up from $29.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. KeyCorp reissued an "overweight" rating and set a $40.00 price objective (up from $35.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. Wall Street Zen cut shares of G-III Apparel Group from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Finally, Zacks Research downgraded shares of G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 14th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $33.00.

G-III Apparel Group Stock Performance

NASDAQ:GIII opened at $33.46 on Friday. 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 $1.41 billion, a P/E ratio of 11.82 and a beta of 1.28. The stock has a 50-day simple moving average of $34.56 and a 200-day simple moving average of $31.85.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last issued its earnings results on Friday, June 5th. The textile maker reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.09. G-III Apparel Group had a return on equity of 5.59% and a net margin of 4.34%.The business had revenue of $535.96 million for the quarter, compared to analyst estimates of $529.07 million. During the same quarter last year, the company earned $0.19 EPS. The business'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. On average, equities research analysts predict that G-III Apparel Group, LTD. will post 2.24 EPS for the current year.

G-III Apparel Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, September 15th. 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.

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