Louisiana State Employees Retirement System Invests $457,000 in G-III Apparel Group, LTD. $GIII

Louisiana State Employees Retirement System bought a new stake in shares of G-III Apparel Group, LTD. (NASDAQ:GIII) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 16,500 shares of the textile maker’s stock, valued at approximately $457,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in G-III Apparel Group by 107.7% during the fourth quarter. GAMMA Investing LLC now owns 941 shares of the textile maker’s stock worth $27,000 after purchasing an additional 488 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of G-III Apparel Group in the 4th quarter valued at approximately $34,000. Raymond James Financial Inc. bought a new stake in shares of G-III Apparel Group in the 2nd quarter valued at approximately $41,000. Parallel Advisors LLC raised its holdings in shares of G-III Apparel Group by 231.9% in the 4th quarter. Parallel Advisors LLC now owns 1,779 shares of the textile maker’s stock worth $52,000 after buying an additional 1,243 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of G-III Apparel Group in the 1st quarter worth approximately $77,000. Institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Price Performance

NASDAQ GIII opened at $33.80 on Thursday. The stock’s 50 day simple moving average is $32.47 and its 200 day simple moving average is $30.52. G-III Apparel Group, LTD. has a one year low of $22.91 and a one year high of $36.53. The firm has a market cap of $1.43 billion, a PE ratio of 11.94 and a beta of 1.28.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data 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. The firm had revenue of $535.96 million during the quarter, compared to the consensus estimate of $529.07 million. G-III Apparel Group had a return on equity of 5.59% and a net margin of 4.34%.The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS. 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 analysts expect that G-III Apparel Group, LTD. will post 2.24 earnings per share for the current year.

G-III Apparel Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Monday, June 22nd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, June 22nd. G-III Apparel Group’s payout ratio is currently 14.13%.

Analyst Ratings Changes

Several analysts recently commented on GIII shares. 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 reiterated an “overweight” rating and set a $40.00 price objective (up from $35.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. UBS Group cut their price objective on G-III Apparel Group from $30.00 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, March 17th. Zacks Research upgraded shares of G-III Apparel Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 15th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $38.00 target price (up from $29.00) on shares of G-III Apparel Group in a report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” 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.