Empowered Funds LLC Makes New $7.09 Million Investment in G-III Apparel Group, LTD. $GIII

Empowered Funds LLC acquired a new position in shares of G-III Apparel Group, LTD. (NASDAQ:GIII) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 210,435 shares of the textile maker’s stock, valued at approximately $7,094,000.

Other large investors have also modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in shares of G-III Apparel Group in the 2nd quarter valued at $86,000. Bank of America Corp DE purchased a new stake in G-III Apparel Group in the second quarter valued at $14,963,000. Man Group plc purchased a new stake in G-III Apparel Group in the second quarter valued at $2,048,000. Jupiter Topco LLC acquired a new position in G-III Apparel Group in the second quarter valued at $632,000. Finally, Hsbc Holdings PLC acquired a new position in G-III Apparel Group in the second quarter valued at $3,245,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

G-III Apparel Group Price Performance

Shares of NASDAQ:GIII opened at $33.46 on Monday. G-III Apparel Group, LTD. has a 1-year low of $24.61 and a 1-year high of $37.54. The stock has a market cap of $1.41 billion, a P/E ratio of 11.82 and a beta of 1.28. The firm has a fifty day moving average price of $34.56 and a 200 day moving average price of $31.86.

G-III Apparel Group (NASDAQ:GIII) last posted 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 company had revenue of $535.96 million for 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. G-III Apparel Group’s quarterly revenue was down 8.2% on a year-over-year basis. 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. Sell-side analysts expect that G-III Apparel Group, LTD. will post 2.24 EPS 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 given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, September 15th. G-III Apparel Group’s payout ratio is 14.13%.

Analysts Set New Price Targets

Several brokerages have issued reports on GIII. 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 report on Monday, June 8th. Zacks Research cut G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Weiss Ratings upgraded G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. BTIG Research lifted their price target on G-III Apparel Group from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Finally, Wall Street Zen cut G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.