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

Hsbc Holdings PLC purchased a new position in G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 97,372 shares of the textile maker's stock, valued at approximately $3,245,000. Hsbc Holdings PLC owned about 0.23% of G-III Apparel Group at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GIII. BlackRock Inc. acquired a new position in shares of G-III Apparel Group in the 2nd quarter valued at $232,832,000. Norges Bank acquired a new stake in G-III Apparel Group during the 4th quarter worth about $36,200,000. Balyasny Asset Management L.P. purchased a new stake in G-III Apparel Group during the 2nd quarter valued at about $7,546,000. Bank of New York Mellon Corp acquired a new position in shares of G-III Apparel Group in the second quarter valued at about $9,113,000. Finally, Barclays PLC increased its holdings in shares of G-III Apparel Group by 54.0% in the fourth quarter. Barclays PLC now owns 717,607 shares of the textile maker's stock valued at $20,782,000 after purchasing an additional 251,502 shares during the period. 92.13% of the stock is owned by hedge funds and other institutional investors.

G-III Apparel Group Price Performance

Shares of NASDAQ GIII opened at $33.46 on Friday. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 11.82 and a beta of 1.28. The firm's 50 day simple moving average is $34.56 and its 200-day simple moving average is $31.85. G-III Apparel Group, LTD. has a 12 month low of $24.61 and a 12 month high of $37.54.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last posted its earnings results on Friday, June 5th. The textile maker reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.09. The firm had revenue of $535.96 million during the quarter, compared to analysts' expectations of $529.07 million. G-III Apparel Group had a net margin of 4.34% and a return on equity of 5.59%. The business's revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.19 EPS. 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. Analysts anticipate 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 15th. G-III Apparel Group's payout ratio is presently 14.13%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GIII shares. KeyCorp reaffirmed an "overweight" rating and set a $40.00 target price (up from $35.00) on shares of G-III Apparel Group in a 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 restated 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. BTIG Research upped their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company a "buy" rating in a report on Friday, June 5th. Finally, Wall Street Zen downgraded shares of G-III Apparel Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, G-III Apparel Group presently has a consensus rating of "Hold" and an average target price of $33.00.

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.

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