JPMorgan Chase & Co. Cuts Stock Holdings in G-III Apparel Group, LTD. $GIII

JPMorgan Chase & Co. lowered its stake in shares of G-III Apparel Group, LTD. (NASDAQ:GIII) by 79.0% during the third quarter, Holdings Channel reports. The fund owned 83,934 shares of the textile maker’s stock after selling 316,141 shares during the period. JPMorgan Chase & Co.’s holdings in G-III Apparel Group were worth $2,233,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of G-III Apparel Group by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,936,957 shares of the textile maker’s stock worth $78,153,000 after acquiring an additional 15,500 shares during the period. American Century Companies Inc. increased its position in shares of G-III Apparel Group by 3.4% during the third quarter. American Century Companies Inc. now owns 1,730,216 shares of the textile maker’s stock worth $46,041,000 after acquiring an additional 57,440 shares during the period. LSV Asset Management increased its position in shares of G-III Apparel Group by 34.7% during the third quarter. LSV Asset Management now owns 1,144,233 shares of the textile maker’s stock worth $30,448,000 after acquiring an additional 294,732 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of G-III Apparel Group by 30.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,054,266 shares of the textile maker’s stock worth $28,054,000 after acquiring an additional 247,245 shares during the period. Finally, Medina Value Partners LLC increased its position in shares of G-III Apparel Group by 1,099.7% during the third quarter. Medina Value Partners LLC now owns 682,090 shares of the textile maker’s stock worth $18,150,000 after acquiring an additional 625,237 shares during the period. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. UBS Group cut their price objective on G-III Apparel Group from $30.00 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 17th. BTIG Research reaffirmed a “buy” rating and set a $34.00 price objective on shares of G-III Apparel Group in a research report on Wednesday, March 18th. Zacks Research lowered G-III Apparel Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of G-III Apparel Group in a research report on Friday, January 9th. Finally, KeyCorp reissued an “overweight” rating and issued a $35.00 target price (up from $33.00) on shares of G-III Apparel Group in a report on Wednesday, December 10th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $29.00.

G-III Apparel Group Price Performance

NASDAQ:GIII opened at $28.29 on Tuesday. The firm has a market capitalization of $1.19 billion, a PE ratio of 18.86 and a beta of 1.30. The business’s fifty day moving average price is $29.06 and its 200 day moving average price is $28.78. G-III Apparel Group, LTD. has a 12 month low of $20.33 and a 12 month high of $34.83.

G-III Apparel Group (NASDAQ:GIII) last posted its earnings results on Thursday, March 12th. The textile maker reported $0.30 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.29). The business had revenue of $771.49 million during the quarter, compared to analysts’ expectations of $791.98 million. G-III Apparel Group had a net margin of 2.28% and a return on equity of 6.70%. The business’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same period last year, the company earned $1.27 EPS. G-III Apparel Group has set its Q1 2027 guidance at -0.400–0.300 EPS and its FY 2027 guidance at 2.000-2.100 EPS. As a group, equities analysts anticipate that G-III Apparel Group, LTD. will post 4.16 EPS for the current year.

G-III Apparel Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Monday, March 23rd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $0.40 annualized dividend and a dividend yield of 1.4%. G-III Apparel Group’s dividend payout ratio (DPR) is presently 26.67%.

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.