G-III Apparel Group, LTD. Announces Quarterly Dividend of $0.10 (NASDAQ:GIII)

G-III Apparel Group, LTD. (NASDAQ:GIII) declared a quarterly dividend on Thursday, August 20th. Stockholders of record on Tuesday, September 15th will be given a dividend of 0.10 per share by the textile maker on Tuesday, September 29th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, September 15th.

G-III Apparel Group Price Performance

Shares of GIII stock traded down $0.92 during trading on Thursday, reaching $33.18. The company’s stock had a trading volume of 376,376 shares, compared to its average volume of 516,327. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 11.72 and a beta of 1.28. The stock’s 50-day moving average price is $34.75 and its 200 day moving average price is $31.70. G-III Apparel Group has a 1-year low of $24.61 and a 1-year high of $37.54.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Friday, June 5th. The textile maker reported ($0.21) earnings per share (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 net margin of 4.34% and a return on equity of 5.59%. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the business earned $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. On average, sell-side analysts anticipate that G-III Apparel Group will post 2.24 EPS for the current fiscal year.

Institutional Investors Weigh In On G-III Apparel Group

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of G-III Apparel Group by 8.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 79,560 shares of the textile maker’s stock worth $2,682,000 after purchasing an additional 6,325 shares in the last quarter. Empowered Funds LLC acquired a new stake in G-III Apparel Group in the second quarter valued at $7,094,000. Public Employees Retirement System of Ohio purchased a new stake in G-III Apparel Group during the 2nd quarter worth about $86,000. Bank of America Corp DE purchased a new stake in G-III Apparel Group during the 2nd quarter worth about $14,963,000. Finally, Man Group plc acquired a new position in shares of G-III Apparel Group during the 2nd quarter worth about $2,048,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

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.