Principal Financial Group Inc. Sells 36,099 Shares of G-III Apparel Group, LTD. $GIII

Principal Financial Group Inc. lowered its position in shares of G-III Apparel Group, LTD. (NASDAQ:GIII) by 14.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 212,444 shares of the textile maker’s stock after selling 36,099 shares during the period. Principal Financial Group Inc.’s holdings in G-III Apparel Group were worth $5,885,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Fifth Third Bancorp raised its position in G-III Apparel Group by 9,182.9% in the first quarter. Fifth Third Bancorp now owns 39,731 shares of the textile maker’s stock valued at $1,101,000 after purchasing an additional 39,303 shares during the last quarter. DGS Capital Management LLC grew its holdings in shares of G-III Apparel Group by 19.6% during the first quarter. DGS Capital Management LLC now owns 8,326 shares of the textile maker’s stock worth $231,000 after purchasing an additional 1,366 shares during the last quarter. Strs Ohio increased its stake in shares of G-III Apparel Group by 56.3% in the first quarter. Strs Ohio now owns 11,100 shares of the textile maker’s stock valued at $307,000 after buying an additional 4,000 shares during the period. Foster & Motley Inc. acquired a new position in shares of G-III Apparel Group in the first quarter valued at approximately $301,000. Finally, Louisiana State Employees Retirement System bought a new position in G-III Apparel Group in the 1st quarter valued at approximately $457,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GIII shares. 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. Weiss Ratings upgraded shares of G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. BTIG Research upped their price target on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, June 5th. 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 note 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 report 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $33.00.

G-III Apparel Group Trading Up 2.8%

Shares of GIII stock opened at $35.93 on Tuesday. G-III Apparel Group, LTD. has a 1-year low of $23.01 and a 1-year high of $36.53. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 12.70 and a beta of 1.28. The stock has a 50-day moving average of $33.68 and a 200-day moving average of $31.00.

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, topping analysts’ consensus estimates of ($0.30) by $0.09. The company had revenue of $535.96 million for the quarter, compared to analyst estimates of $529.07 million. G-III Apparel Group had a return on equity of 5.59% and a net margin of 4.34%.The firm’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 earnings per share. 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 forecast that G-III Apparel Group, LTD. will post 2.24 earnings per share for the current year.

G-III Apparel Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Monday, June 22nd were issued 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 dividend payout ratio (DPR) is presently 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.