G-III Apparel Group, LTD. $GIII Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its stake in shares of G-III Apparel Group, LTD. (NASDAQ:GIII) by 79.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,934 shares of the textile maker’s stock after selling 316,141 shares during the period. JPMorgan Chase & Co. owned 0.20% of G-III Apparel Group worth $2,233,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in GIII. Medina Value Partners LLC lifted its holdings in G-III Apparel Group by 1,099.7% in the third quarter. Medina Value Partners LLC now owns 682,090 shares of the textile maker’s stock valued at $18,150,000 after acquiring an additional 625,237 shares during the last quarter. Norges Bank acquired a new position in G-III Apparel Group in the second quarter valued at approximately $10,366,000. Cerity Partners LLC acquired a new position in G-III Apparel Group in the second quarter valued at approximately $9,313,000. Hound Partners LLC lifted its holdings in G-III Apparel Group by 280.0% in the third quarter. Hound Partners LLC now owns 478,909 shares of the textile maker’s stock valued at $12,744,000 after acquiring an additional 352,869 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in G-III Apparel Group in the second quarter valued at approximately $7,546,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

G-III Apparel Group Stock Up 1.0%

NASDAQ:GIII opened at $28.29 on Tuesday. The stock’s fifty day moving average is $29.06 and its two-hundred day moving average is $28.78. G-III Apparel Group, LTD. has a 52 week low of $20.33 and a 52 week high of $34.83. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 18.86 and a beta of 1.30.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results on Thursday, March 12th. The textile maker reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.29). G-III Apparel Group had a return on equity of 6.70% and a net margin of 2.28%.The firm had revenue of $771.49 million for the quarter, compared to analyst estimates of $791.98 million. During the same quarter last year, the company earned $1.27 earnings per share. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. 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. On average, sell-side analysts expect that G-III Apparel Group, LTD. will post 4.16 EPS for the current fiscal year.

G-III Apparel Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on GIII. Telsey Advisory Group reiterated a “market perform” rating and issued a $29.00 price objective (down from $34.00) on shares of G-III Apparel Group in a report on Monday, March 9th. Zacks Research cut G-III Apparel Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. BTIG Research reiterated a “buy” rating and issued a $34.00 price objective on shares of G-III Apparel Group in a report on Wednesday, March 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of G-III Apparel Group in a report on Friday, January 9th. Finally, KeyCorp reiterated an “overweight” rating and issued a $35.00 price objective (up from $33.00) on shares of G-III Apparel Group in a report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $29.00.

G-III Apparel Group 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.