Jupiter Asset Management Ltd. Makes New Investment in G-III Apparel Group, LTD. $GIII

Jupiter Asset Management Ltd. acquired a new stake in G-III Apparel Group, LTD. (NASDAQ:GIII) during the third quarter, Holdings Channel.com reports. The firm acquired 220,889 shares of the textile maker’s stock, valued at approximately $5,878,000.

Several other institutional investors have also modified their holdings of the company. Intech Investment Management LLC raised its holdings in G-III Apparel Group by 6.1% during the second quarter. Intech Investment Management LLC now owns 48,866 shares of the textile maker’s stock worth $1,095,000 after purchasing an additional 2,790 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of G-III Apparel Group by 62.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 86,477 shares of the textile maker’s stock valued at $2,301,000 after buying an additional 33,365 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of G-III Apparel Group in the 2nd quarter valued at $486,000. Allianz Asset Management GmbH raised its stake in G-III Apparel Group by 431.3% during the 2nd quarter. Allianz Asset Management GmbH now owns 60,558 shares of the textile maker’s stock worth $1,356,000 after acquiring an additional 49,159 shares in the last quarter. Finally, LSV Asset Management lifted its position in G-III Apparel Group by 34.7% in the third quarter. LSV Asset Management now owns 1,144,233 shares of the textile maker’s stock valued at $30,448,000 after acquiring an additional 294,732 shares during the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. BTIG Research raised their price objective on G-III Apparel Group from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. UBS Group set a $32.00 price target on G-III Apparel Group and gave the stock a “neutral” rating in a research note on Wednesday, December 10th. KeyCorp reiterated an “overweight” rating and issued a $35.00 price objective (up previously from $33.00) on shares of G-III Apparel Group in a research note on Wednesday, December 10th. Zacks Research raised G-III Apparel Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Telsey Advisory Group set a $34.00 target price on shares of G-III Apparel Group in a report on Wednesday, December 10th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $31.20.

G-III Apparel Group Stock Up 0.9%

GIII opened at $31.89 on Friday. The business has a 50 day moving average price of $30.06 and a two-hundred day moving average price of $28.33. G-III Apparel Group, LTD. has a 52 week low of $20.33 and a 52 week high of $34.83. The company has a market cap of $1.35 billion, a PE ratio of 9.58 and a beta of 1.31.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Tuesday, December 9th. The textile maker reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.29. G-III Apparel Group had a return on equity of 9.37% and a net margin of 4.89%.The business had revenue of $988.65 million for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the company posted $2.59 earnings per share. The company’s revenue for the quarter was down 9.3% compared to the same quarter last year. G-III Apparel Group has set its FY 2026 guidance at 2.800-2.900 EPS. As a group, 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 announced a quarterly dividend, which was paid on Monday, December 29th. Stockholders of record on Monday, December 15th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, December 15th. G-III Apparel Group’s dividend payout ratio (DPR) is 12.01%.

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.