Empowered Funds LLC Makes New Investment in G-III Apparel Group, LTD. $GIII

Empowered Funds LLC 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 210,435 shares of the textile maker's stock, valued at approximately $7,094,000. Empowered Funds LLC owned approximately 0.50% of G-III Apparel Group as of its most recent filing with the Securities & Exchange Commission.

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

G-III Apparel Group Stock Performance

Shares of GIII opened at $33.46 on Monday. G-III Apparel Group, LTD. has a twelve month low of $24.61 and a twelve month high of $37.54. The firm's fifty day simple moving average is $34.56 and its 200-day simple moving average is $31.86. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 11.82 and a beta of 1.28.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) 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 firm had revenue of $535.96 million during 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%. The company's revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $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. On average, analysts predict that G-III Apparel Group, LTD. will post 2.24 earnings per share for the current fiscal year.

G-III Apparel Group Announces Dividend

The firm 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. This represents a $0.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 15th. G-III Apparel Group's dividend payout ratio is currently 14.13%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. BTIG Research increased their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, June 5th. Wall Street Zen cut G-III Apparel Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Telsey Advisory Group restated a "market perform" rating and set a $38.00 price target (up from $29.00) on shares of G-III Apparel Group in a report on Monday, June 8th. Zacks Research lowered G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings upgraded G-III Apparel Group from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, June 9th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus 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.

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