Royal Bank of Canada Cuts Stock Position in G-III Apparel Group, LTD. $GIII

Key Points

• Royal Bank of Canada reduced its G-III Apparel Group stake by 24.7% in the first quarter, selling 159,289 shares and retaining 486,899 shares worth approximately $13.5 million. Institutional investors collectively own 92.13% of the company.
• G-III reported quarterly revenue of $535.96 million and an adjusted loss of $0.21 per share, outperforming analyst expectations, although revenue fell 8.2% year over year. The company guided to fiscal 2027 EPS of $2.15–$2.25.
• Shares opened at $35.46, near their 52-week high, while analysts maintained a consensus “Hold” rating with an average price target of $33.00. G-III also pays a quarterly dividend of $0.10 per share, yielding about 1.1%.

Royal Bank of Canada cut its stake in shares of G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 24.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 486,899 shares of the textile maker's stock after selling 159,289 shares during the quarter. Royal Bank of Canada owned about 1.15% of G-III Apparel Group worth $13,487,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GIII. Dimensional Fund Advisors LP raised its holdings in G-III Apparel Group by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,936,957 shares of the textile maker's stock worth $78,153,000 after acquiring an additional 15,500 shares during the last quarter. Norges Bank purchased a new position in shares of G-III Apparel Group in the fourth quarter worth $36,200,000. LSV Asset Management lifted its holdings in shares of G-III Apparel Group by 8.1% during the fourth quarter. LSV Asset Management now owns 1,237,469 shares of the textile maker's stock valued at $35,837,000 after purchasing an additional 93,236 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of G-III Apparel Group by 30.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,054,266 shares of the textile maker's stock valued at $28,054,000 after buying an additional 247,245 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in G-III Apparel Group by 19.5% in the 4th quarter. AQR Capital Management LLC now owns 772,319 shares of the textile maker's stock worth $22,366,000 after buying an additional 125,942 shares in the last quarter. Institutional investors own 92.13% of the company's stock.

G-III Apparel Group Stock Down 0.9%

NASDAQ GIII opened at $35.46 on Friday. The company has a 50-day moving average price of $34.63 and a 200-day moving average price of $31.39. G-III Apparel Group, LTD. has a 52 week low of $23.95 and a 52 week high of $37.54. The firm has a market capitalization of $1.50 billion, a P/E ratio of 12.53 and a beta of 1.28.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last announced 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. G-III Apparel Group had a net margin of 4.34% and a return on equity of 5.59%. The company 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 business posted $0.19 earnings per share. The firm's quarterly 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. As a group, equities research analysts anticipate that G-III Apparel Group, LTD. will post 2.24 EPS for the current year.

G-III Apparel Group Dividend Announcement

The business also recently announced 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. The ex-dividend date was Monday, June 22nd. This represents a $0.40 annualized dividend and a yield of 1.1%. G-III Apparel Group's payout ratio is 14.13%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. KeyCorp restated 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 objective (up from $29.00) on shares of G-III Apparel Group in a report on Monday, June 8th. Zacks Research downgraded shares of G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 14th. Weiss Ratings upgraded shares of G-III Apparel Group from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, June 9th. Finally, Wall Street Zen upgraded shares of G-III Apparel Group from a "hold" rating to a "buy" rating in a report on Saturday, June 20th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, G-III Apparel Group presently has a consensus rating of "Hold" and an average target price 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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