G-III Apparel Group (NASDAQ:GIII) Reaches New 12-Month High – Here’s Why

G-III Apparel Group, LTD. (NASDAQ:GIII)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $36.72 and last traded at $36.6690, with a volume of 17272 shares changing hands. The stock had previously closed at $35.93.

Wall Street Analyst Weigh In

GIII has been the topic of a number of research analyst reports. Telsey Advisory Group reaffirmed 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. Wall Street Zen upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Weiss Ratings raised G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. 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 report on Monday, June 8th. Finally, Zacks Research lowered shares of G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Three equities research 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. According to data from MarketBeat.com, G-III Apparel Group has an average rating of “Hold” and an average price target of $33.00.

G-III Apparel Group Stock Performance

The business has a 50-day simple moving average of $33.68 and a two-hundred day simple moving average of $31.00. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 12.99 and a beta of 1.28.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Friday, June 5th. The textile maker reported ($0.21) earnings per share (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 company had revenue of $535.96 million for the quarter, compared to the consensus estimate of $529.07 million. During the same period last year, the company 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. On average, analysts expect that G-III Apparel Group, LTD. will post 2.24 earnings per share for the current fiscal year.

G-III Apparel Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Monday, June 22nd were given a $0.10 dividend. The ex-dividend date of this dividend 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 14.13%.

Institutional Investors Weigh In On G-III Apparel Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in GIII. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of G-III Apparel Group by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,228 shares of the textile maker’s stock worth $635,000 after buying an additional 1,018 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of G-III Apparel Group by 8.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,197 shares of the textile maker’s stock valued at $2,193,000 after acquiring an additional 6,062 shares during the last quarter. Intech Investment Management LLC raised its holdings in G-III Apparel Group by 14.1% during the first quarter. Intech Investment Management LLC now owns 46,076 shares of the textile maker’s stock worth $1,260,000 after acquiring an additional 5,685 shares in the last quarter. Strs Ohio bought a new stake in G-III Apparel Group during the first quarter worth about $77,000. Finally, First Trust Advisors LP boosted its position in G-III Apparel Group by 15.7% during the second quarter. First Trust Advisors LP now owns 154,445 shares of the textile maker’s stock valued at $3,460,000 after purchasing an additional 20,984 shares during the last quarter. 92.13% of the stock is owned by institutional investors.

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.