Landscape Capital Management L.L.C. Invests $1.72 Million in G-III Apparel Group, LTD. $GIII

Key Points

• Landscape Capital Management acquired 51,098 shares of G-III Apparel Group worth approximately $1.72 million, representing a 0.12% stake. Institutional investors collectively own 92.13% of the company, with BlackRock having made a notably larger $232.8 million investment.
• Analyst sentiment is mixed: BTIG Research and KeyCorp raised their price targets to $40 and maintained positive ratings, while other firms downgraded the stock. The overall consensus rating is “Hold”, with a $33 average target price.
• G-III reported quarterly revenue of $535.96 million and an adjusted loss of $0.21 per share, both better than analysts’ expectations, 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.

Landscape Capital Management L.L.C. bought a new stake in G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 51,098 shares of the textile maker's stock, valued at approximately $1,723,000. Landscape Capital Management L.L.C. owned 0.12% of G-III Apparel Group at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in G-III Apparel Group during the 2nd quarter worth $232,832,000. Norges Bank acquired a new position in G-III Apparel Group in the fourth quarter valued at $36,200,000. Balyasny Asset Management L.P. acquired a new position in G-III Apparel Group in the second quarter valued at $7,546,000. Bank of New York Mellon Corp purchased a new stake in shares of G-III Apparel Group in the second quarter valued at about $9,113,000. Finally, Barclays PLC raised 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 buying an additional 251,502 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GIII shares. BTIG Research raised their price target on G-III Apparel Group from $34.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, June 5th. KeyCorp reaffirmed an "overweight" rating and set a $40.00 price objective (up from $35.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. Telsey Advisory Group reaffirmed 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 report on Monday, June 8th. Wall Street Zen lowered G-III Apparel Group from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Finally, Zacks Research cut G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 14th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $33.00.

G-III Apparel Group Stock Up 1.8%

Shares of G-III Apparel Group stock opened at $33.78 on Friday. G-III Apparel Group, LTD. has a 52-week low of $24.61 and a 52-week high of $37.54. The company's 50-day simple moving average is $34.67 and its 200-day simple moving average is $31.74. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 11.94 and a beta of 1.28.

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) EPS for the quarter, beating analysts' consensus estimates of ($0.30) by $0.09. G-III Apparel Group had a net margin of 4.34% and a return on equity of 5.59%. The firm had revenue of $535.96 million during the quarter, compared to the consensus estimate of $529.07 million. During the same quarter last year, the firm earned $0.19 earnings per share. The firm's revenue was down 8.2% compared to the same quarter last year. 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. Equities research analysts anticipate that G-III Apparel Group, LTD. will post 2.24 EPS for the current year.

G-III Apparel Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $0.10 dividend. 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 (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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