G-III Apparel Group, Ltd. (NASDAQ:GIII) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN increased its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 17.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,147 shares of the textile maker’s stock after purchasing an additional 4,391 shares during the quarter. Wells Fargo & Company MN owned 0.07% of G-III Apparel Group worth $951,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GIII. Sanctuary Advisors LLC grew its position in shares of G-III Apparel Group by 4.3% in the 4th quarter. Sanctuary Advisors LLC now owns 15,195 shares of the textile maker’s stock valued at $500,000 after buying an additional 631 shares during the last quarter. Vestcor Inc boosted its holdings in shares of G-III Apparel Group by 2.1% during the fourth quarter. Vestcor Inc now owns 31,988 shares of the textile maker’s stock worth $1,043,000 after purchasing an additional 665 shares during the last quarter. Atria Investments Inc boosted its holdings in G-III Apparel Group by 9.1% in the fourth quarter. Atria Investments Inc now owns 8,102 shares of the textile maker’s stock valued at $264,000 after acquiring an additional 673 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in G-III Apparel Group by 249.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock valued at $64,000 after acquiring an additional 1,412 shares during the last quarter. Finally, AlphaQuest LLC purchased a new position in G-III Apparel Group in the fourth quarter valued at about $49,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Barclays dropped their target price on G-III Apparel Group from $25.00 to $21.00 and set an “underweight” rating on the stock in a research report on Monday. StockNews.com lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 9th. Telsey Advisory Group reissued a “market perform” rating and issued a $30.00 price target on shares of G-III Apparel Group in a research report on Friday, April 4th. Finally, UBS Group decreased their price objective on shares of G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a 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 given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $32.20.

G-III Apparel Group Stock Performance

NASDAQ:GIII opened at $24.94 on Wednesday. The firm has a market capitalization of $1.09 billion, a PE ratio of 6.55 and a beta of 1.63. The firm has a 50-day moving average price of $25.84 and a 200 day moving average price of $29.46. G-III Apparel Group, Ltd. has a 12-month low of $20.66 and a 12-month high of $36.18. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.30. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The company had revenue of $839.50 million for the quarter, compared to analyst estimates of $808.59 million. During the same period in the prior year, the business earned $0.76 earnings per share. G-III Apparel Group’s quarterly revenue was up 9.8% on a year-over-year basis. Research analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current fiscal year.

G-III Apparel Group 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.