Principal Financial Group Inc. Boosts Holdings in G-III Apparel Group, LTD. $GIII

Principal Financial Group Inc. lifted its holdings in G-III Apparel Group, LTD. (NASDAQ:GIII) by 8.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 228,287 shares of the textile maker’s stock after acquiring an additional 17,611 shares during the quarter. Principal Financial Group Inc.’s holdings in G-III Apparel Group were worth $6,075,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GIII. American Century Companies Inc. lifted its stake in G-III Apparel Group by 3.0% in the second quarter. American Century Companies Inc. now owns 1,672,776 shares of the textile maker’s stock worth $37,470,000 after purchasing an additional 48,426 shares during the last quarter. LSV Asset Management increased its holdings in shares of G-III Apparel Group by 0.3% in the second quarter. LSV Asset Management now owns 849,501 shares of the textile maker’s stock worth $19,029,000 after buying an additional 2,597 shares during the period. Marshall Wace LLP lifted its stake in shares of G-III Apparel Group by 15.7% in the 2nd quarter. Marshall Wace LLP now owns 614,752 shares of the textile maker’s stock valued at $13,770,000 after acquiring an additional 83,561 shares during the last quarter. Norges Bank purchased a new stake in G-III Apparel Group during the 2nd quarter valued at about $10,366,000. Finally, Cerity Partners LLC purchased a new stake in G-III Apparel Group during the 2nd quarter valued at about $9,313,000. Institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of G-III Apparel Group in a research note on Friday, January 9th. BTIG Research upped their price target on shares of G-III Apparel Group from $32.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Zacks Research raised shares of G-III Apparel Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Telsey Advisory Group set a $34.00 price target on shares of G-III Apparel Group in a report on Wednesday, December 10th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $35.00 price objective (up from $33.00) on shares of G-III Apparel Group in a research note on Wednesday, December 10th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.20.

G-III Apparel Group Trading Up 0.3%

Shares of NASDAQ GIII opened at $30.15 on Friday. The firm has a fifty day simple moving average of $30.02 and a two-hundred day simple moving average of $28.07. G-III Apparel Group, LTD. has a 12 month low of $20.33 and a 12 month high of $34.83. The firm has a market capitalization of $1.27 billion, a PE ratio of 9.05 and a beta of 1.31.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Tuesday, December 9th. The textile maker reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.29. G-III Apparel Group had a net margin of 4.89% and a return on equity of 9.37%. The company had revenue of $988.65 million for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the company earned $2.59 earnings per share. G-III Apparel Group’s quarterly revenue was down 9.3% on a year-over-year basis. G-III Apparel Group has set its FY 2026 guidance at 2.800-2.900 EPS. On average, sell-side analysts predict that G-III Apparel Group, LTD. will post 4.16 earnings per share for the current year.

G-III Apparel Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 29th. Stockholders of record on Monday, December 15th were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.40 annualized dividend and a dividend yield of 1.3%. G-III Apparel Group’s dividend payout ratio is currently 12.01%.

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.