JPMorgan Chase & Co. Boosts Stock Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

JPMorgan Chase & Co. boosted its stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 80.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 133,518 shares of the textile maker’s stock after purchasing an additional 59,718 shares during the quarter. JPMorgan Chase & Co. owned about 0.30% of G-III Apparel Group worth $4,075,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of GIII. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of G-III Apparel Group in the second quarter worth about $42,000. Quarry LP bought a new stake in G-III Apparel Group in the 3rd quarter worth approximately $63,000. CWM LLC increased its stake in G-III Apparel Group by 46.8% in the 3rd quarter. CWM LLC now owns 2,777 shares of the textile maker’s stock worth $85,000 after acquiring an additional 885 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of G-III Apparel Group during the 2nd quarter worth approximately $78,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of G-III Apparel Group during the 3rd quarter valued at approximately $152,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GIII shares. Telsey Advisory Group restated a “market perform” rating and issued a $38.00 price target on shares of G-III Apparel Group in a research report on Wednesday, December 18th. StockNews.com upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Friday. Guggenheim increased their price target on shares of G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. KeyCorp lifted their price target on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Barclays upped their price objective on G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.17.

G-III Apparel Group Stock Performance

G-III Apparel Group stock opened at $30.91 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.75. The firm has a market capitalization of $1.36 billion, a P/E ratio of 8.11 and a beta of 2.09. G-III Apparel Group, Ltd. has a 1-year low of $20.66 and a 1-year high of $36.18. The company’s 50-day moving average is $31.89 and its 200 day moving average is $29.62.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.33. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the business posted $2.78 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Research analysts forecast that G-III Apparel Group, Ltd. will post 4.16 EPS for the current year.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through two segments, Wholesale Operations and Retail Operations. Its products include outerwear, dresses, sportswear, swimwear, women's suits, and women's performance wear; and women's handbags, footwear, small leather goods, cold weather accessories, and luggage.