G-III Apparel Group, Ltd. (NASDAQ:GIII) Holdings Boosted by New York State Teachers Retirement System

New York State Teachers Retirement System raised its stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 10.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 41,841 shares of the textile maker’s stock after buying an additional 3,803 shares during the quarter. New York State Teachers Retirement System’s holdings in G-III Apparel Group were worth $1,422,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in GIII. Pallas Capital Advisors LLC acquired a new position in G-III Apparel Group during the 4th quarter valued at approximately $219,000. Ritholtz Wealth Management bought a new stake in G-III Apparel Group in the fourth quarter valued at $377,000. Artemis Investment Management LLP boosted its holdings in shares of G-III Apparel Group by 57.7% during the fourth quarter. Artemis Investment Management LLP now owns 169,148 shares of the textile maker’s stock valued at $5,748,000 after acquiring an additional 61,915 shares during the period. Pacer Advisors Inc. grew its position in shares of G-III Apparel Group by 155.7% during the fourth quarter. Pacer Advisors Inc. now owns 3,620,323 shares of the textile maker’s stock worth $123,019,000 after acquiring an additional 2,204,572 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of G-III Apparel Group in the 4th quarter worth about $308,000. 92.13% of the stock is owned by institutional investors.

G-III Apparel Group Stock Performance

Shares of NASDAQ GIII opened at $27.28 on Thursday. G-III Apparel Group, Ltd. has a 1 year low of $14.49 and a 1 year high of $35.68. The firm has a market cap of $1.24 billion, a P/E ratio of 7.24 and a beta of 2.41. The stock has a fifty day moving average price of $29.61 and a two-hundred day moving average price of $29.28. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.31 and a current ratio of 3.36.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Thursday, March 14th. The textile maker reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.09. G-III Apparel Group had a return on equity of 13.07% and a net margin of 5.69%. The business had revenue of $764.80 million during the quarter, compared to analysts’ expectations of $816.98 million. During the same quarter last year, the business posted $0.41 earnings per share. The company’s quarterly revenue was down 10.5% on a year-over-year basis. Research analysts forecast that G-III Apparel Group, Ltd. will post 3.55 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on GIII shares. TheStreet raised shares of G-III Apparel Group from a “c+” rating to a “b” rating in a research note on Thursday, March 14th. StockNews.com downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. UBS Group lowered their target price on G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Wells Fargo & Company cut their target price on G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, March 15th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $29.00 price target on shares of G-III Apparel Group in a research note on Friday, March 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.83.

About G-III Apparel Group

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.