G-III Apparel Group, Ltd. (NASDAQ:GIII) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. grew its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIIIFree Report) by 45.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,544 shares of the textile maker’s stock after purchasing an additional 10,823 shares during the period. Franklin Resources Inc. owned approximately 0.08% of G-III Apparel Group worth $1,174,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of G-III Apparel Group by 6.8% in the third quarter. Barclays PLC now owns 30,606 shares of the textile maker’s stock valued at $763,000 after acquiring an additional 1,958 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in G-III Apparel Group by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,118,951 shares of the textile maker’s stock valued at $27,884,000 after buying an additional 60,669 shares during the last quarter. EMC Capital Management increased its holdings in G-III Apparel Group by 217.4% in the third quarter. EMC Capital Management now owns 7,935 shares of the textile maker’s stock valued at $198,000 after buying an additional 5,435 shares during the last quarter. Rhumbline Advisers increased its holdings in G-III Apparel Group by 0.7% in the third quarter. Rhumbline Advisers now owns 139,882 shares of the textile maker’s stock valued at $3,486,000 after buying an additional 933 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in G-III Apparel Group in the third quarter valued at $97,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

G-III Apparel Group Stock Performance

Shares of GIII stock opened at $31.30 on Thursday. 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, Ltd. has a 1 year low of $17.76 and a 1 year high of $35.68. The stock’s 50-day moving average is $28.36 and its two-hundred day moving average is $30.05. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 8.30 and a beta of 2.26.

G-III Apparel Group (NASDAQ:GIIIGet Free Report) last released its quarterly earnings results on Thursday, March 14th. The textile maker reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $764.80 million for the quarter, compared to analyst estimates of $816.98 million. During the same quarter last year, the company posted $0.41 earnings per share. The business’s revenue was down 10.5% on a year-over-year basis. Analysts predict that G-III Apparel Group, Ltd. will post 3.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Barclays reissued an “underweight” rating and issued a $23.00 target price (down previously from $30.00) on shares of G-III Apparel Group in a report on Monday, March 4th. Telsey Advisory Group reissued a “market perform” rating and issued a $29.00 target price on shares of G-III Apparel Group in a report on Monday. Wells Fargo & Company dropped their target price on G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, March 15th. StockNews.com lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, TheStreet raised G-III Apparel Group from a “c+” rating to a “b” rating in a report on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $25.83.

Check Out Our Latest Stock Analysis on GIII

G-III Apparel Group Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for G-III Apparel Group (NASDAQ:GIII)

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