California State Teachers Retirement System Lowers Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

California State Teachers Retirement System lessened its stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 3.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,907 shares of the textile maker’s stock after selling 1,403 shares during the quarter. California State Teachers Retirement System owned approximately 0.08% of G-III Apparel Group worth $1,204,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Victory Capital Management Inc. raised its stake in G-III Apparel Group by 513.2% during the fourth quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker’s stock valued at $18,430,000 after purchasing an additional 472,862 shares in the last quarter. Marshall Wace LLP raised its stake in G-III Apparel Group by 80.6% during the fourth quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker’s stock valued at $24,989,000 after purchasing an additional 341,870 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in G-III Apparel Group during the fourth quarter valued at $7,628,000. Point72 Asset Management L.P. raised its stake in G-III Apparel Group by 111.7% during the fourth quarter. Point72 Asset Management L.P. now owns 381,126 shares of the textile maker’s stock valued at $12,432,000 after purchasing an additional 201,126 shares in the last quarter. Finally, Foundry Partners LLC purchased a new stake in G-III Apparel Group during the fourth quarter valued at $6,094,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GIII. UBS Group cut their price objective on shares of G-III Apparel Group from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Monday. Telsey Advisory Group cut their price objective on shares of G-III Apparel Group from $30.00 to $27.00 and set a “market perform” rating on the stock in a research report on Monday. Barclays cut their price objective on shares of G-III Apparel Group from $21.00 to $18.00 and set an “underweight” rating on the stock in a research report on Monday. KeyCorp cut their price objective on shares of G-III Apparel Group from $40.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Wall Street Zen upgraded shares of G-III Apparel Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.80.

G-III Apparel Group Trading Down 1.6%

NASDAQ GIII opened at $22.16 on Tuesday. The company’s 50-day moving average price is $26.03 and its 200-day moving average price is $28.70. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13. The stock has a market cap of $972.45 million, a PE ratio of 5.82 and a beta of 1.48. G-III Apparel Group, Ltd. has a 12 month low of $20.66 and a 12 month high of $36.18.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Friday, June 6th. The textile maker reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. The firm had revenue of $583.61 million for the quarter, compared to analysts’ expectations of $579.48 million. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.12 earnings per share. Equities research analysts forecast that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current 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.