G-III Apparel Group, LTD. $GIII Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp increased its position in shares of G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 9,182.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,731 shares of the textile maker's stock after buying an additional 39,303 shares during the period. Fifth Third Bancorp owned about 0.09% of G-III Apparel Group worth $1,101,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GIII. DGS Capital Management LLC grew its stake in shares of G-III Apparel Group by 19.6% during the first quarter. DGS Capital Management LLC now owns 8,326 shares of the textile maker's stock valued at $231,000 after acquiring an additional 1,366 shares in the last quarter. Strs Ohio lifted its stake in shares of G-III Apparel Group by 56.3% in the first quarter. Strs Ohio now owns 11,100 shares of the textile maker's stock worth $307,000 after acquiring an additional 4,000 shares in the last quarter. Foster & Motley Inc. acquired a new position in shares of G-III Apparel Group in the first quarter worth about $301,000. Louisiana State Employees Retirement System purchased a new position in G-III Apparel Group in the first quarter valued at about $457,000. Finally, SG Americas Securities LLC boosted its holdings in G-III Apparel Group by 149.8% in the first quarter. SG Americas Securities LLC now owns 52,390 shares of the textile maker's stock valued at $1,451,000 after purchasing an additional 31,420 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GIII shares. Zacks Research lowered G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 14th. Weiss Ratings raised G-III Apparel Group from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, June 9th. 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 note on Monday, June 8th. Telsey Advisory Group reissued a "market perform" rating and set a $38.00 price target (up from $29.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. Finally, BTIG Research lifted their price target 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 investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, G-III Apparel Group currently has an average rating of "Hold" and an average target price of $33.00.

G-III Apparel Group Stock Performance

Shares of GIII stock opened at $34.95 on Friday. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 12.35 and a beta of 1.28. G-III Apparel Group, LTD. has a one year low of $23.01 and a one year high of $36.53. The company's 50-day simple moving average is $33.54 and its 200-day simple moving average is $30.95.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last announced its quarterly earnings data on Friday, June 5th. The textile maker reported ($0.21) earnings per share for the quarter, beating 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 firm had revenue of $535.96 million during the quarter, compared to analyst estimates of $529.07 million. During the same period in the previous year, the company earned $0.19 earnings per share. G-III Apparel Group'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. As a group, research analysts forecast that G-III Apparel Group, LTD. will post 2.24 EPS for the current year.

G-III Apparel Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Monday, June 22nd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, June 22nd. G-III Apparel Group's dividend payout ratio is currently 14.13%.

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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