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

JPMorgan Chase & Co. grew its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 75.2% in the fourth quarter, Holdings Channel reports. The firm owned 233,913 shares of the textile maker’s stock after acquiring an additional 100,395 shares during the period. JPMorgan Chase & Co.’s holdings in G-III Apparel Group were worth $7,630,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of G-III Apparel Group in the fourth quarter valued at about $271,000. Zions Bancorporation N.A. increased its position in G-III Apparel Group by 19.7% during the 4th quarter. Zions Bancorporation N.A. now owns 56,577 shares of the textile maker’s stock valued at $1,846,000 after purchasing an additional 9,329 shares during the period. Segall Bryant & Hamill LLC bought a new stake in shares of G-III Apparel Group in the 4th quarter valued at about $493,000. Prudential Financial Inc. lifted its position in shares of G-III Apparel Group by 2.6% in the 4th quarter. Prudential Financial Inc. now owns 772,447 shares of the textile maker’s stock worth $25,197,000 after purchasing an additional 19,723 shares during the period. Finally, LPL Financial LLC boosted its stake in shares of G-III Apparel Group by 25.7% during the fourth quarter. LPL Financial LLC now owns 66,321 shares of the textile maker’s stock valued at $2,067,000 after purchasing an additional 13,550 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GIII shares. StockNews.com downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 9th. Telsey Advisory Group reiterated a “market perform” rating and set a $30.00 price objective on shares of G-III Apparel Group in a research note on Friday, April 4th. Barclays decreased their target price on shares of G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating for the company in a research report on Tuesday, March 18th. Finally, UBS Group reduced their price target on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $33.00.

G-III Apparel Group Price Performance

NASDAQ:GIII opened at $23.54 on Thursday. The firm’s fifty day moving average is $26.68 and its two-hundred day moving average is $29.78. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 6.18 and a beta of 1.63. G-III Apparel Group, Ltd. has a one year low of $20.66 and a one year high of $36.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Thursday, March 13th. The textile maker reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.30. The firm had revenue of $839.50 million for the quarter, compared to the consensus estimate of $808.59 million. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 earnings per share. Research analysts expect 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.