Principal Financial Group Inc. Has $5.88 Million Position in G-III Apparel Group, LTD. $GIII

Key Points

• Principal Financial Group reduced its G-III Apparel Group stake by 14.5% in the first quarter, selling 36,099 shares and retaining 212,444 shares worth approximately $5.88 million. Institutional investors and hedge funds collectively own 92.13% of the company.
• Analyst sentiment is mixed, with three Buy, three Hold and one Sell rating; the consensus rating remains Hold with an average price target of $33.00. Shares opened at $35.93, near their 12-month high of $36.53.
• G-III exceeded quarterly earnings and revenue expectations, reporting adjusted EPS of negative $0.21 versus estimates of negative $0.30 and revenue of $535.96 million. The company also maintains a quarterly dividend of $0.10 per share, equating to a 1.1% yield.

Principal Financial Group Inc. lessened its stake in shares of G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 14.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 212,444 shares of the textile maker's stock after selling 36,099 shares during the period. Principal Financial Group Inc. owned 0.50% of G-III Apparel Group worth $5,885,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GIII. GAMMA Investing LLC grew its holdings in shares of G-III Apparel Group by 107.7% during the 4th quarter. GAMMA Investing LLC now owns 941 shares of the textile maker's stock worth $27,000 after purchasing an additional 488 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in G-III Apparel Group during the fourth quarter worth about $34,000. Raymond James Financial Inc. bought a new stake in G-III Apparel Group during the second quarter worth about $41,000. Parallel Advisors LLC lifted its position in G-III Apparel Group by 231.9% during the fourth quarter. Parallel Advisors LLC now owns 1,779 shares of the textile maker's stock worth $52,000 after purchasing an additional 1,243 shares during the period. Finally, Strs Ohio acquired a new stake in G-III Apparel Group during the first quarter worth about $77,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GIII. Wall Street Zen upgraded shares of G-III Apparel Group from a "hold" rating to a "buy" rating in a research report on Saturday, June 20th. KeyCorp reiterated an "overweight" rating and set a $40.00 price target (up from $35.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. Weiss Ratings raised shares of G-III Apparel Group from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, June 9th. 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 report on Monday, June 8th. Finally, BTIG Research upped 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. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $33.00.

G-III Apparel Group Stock Up 2.8%

G-III Apparel Group stock opened at $35.93 on Tuesday. The stock has a market cap of $1.52 billion, a PE ratio of 12.70 and a beta of 1.28. G-III Apparel Group, LTD. has a 12-month low of $23.01 and a 12-month high of $36.53. The business's 50-day moving average price is $33.68 and its two-hundred day moving average price is $31.00.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last posted 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. 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 analysts' expectations of $529.07 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. The business's revenue for the quarter 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. As a group, analysts expect that G-III Apparel Group, LTD. will post 2.24 earnings per share for the current year.

G-III Apparel Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Monday, June 22nd were given a $0.10 dividend. The ex-dividend date was Monday, June 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. G-III Apparel Group's dividend payout ratio (DPR) 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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