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

New York State Teachers Retirement System lifted its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 10.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,841 shares of the textile maker’s stock after acquiring an additional 3,803 shares during the quarter. New York State Teachers Retirement System owned 0.09% of G-III Apparel Group worth $1,422,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Pallas Capital Advisors LLC acquired a new stake in shares of G-III Apparel Group during the 4th quarter worth approximately $219,000. Ritholtz Wealth Management purchased a new stake in shares of G-III Apparel Group during the 4th quarter worth about $377,000. Artemis Investment Management LLP grew its position in shares of G-III Apparel Group by 57.7% during the 4th 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. increased its stake in shares of G-III Apparel Group by 155.7% in the 4th quarter. Pacer Advisors Inc. now owns 3,620,323 shares of the textile maker’s stock valued at $123,019,000 after purchasing an additional 2,204,572 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in G-III Apparel Group in the 4th quarter worth about $308,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. TheStreet upgraded G-III Apparel Group from a “c+” rating to a “b” rating in a research report on Thursday, March 14th. StockNews.com lowered shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Telsey Advisory Group restated a “market perform” rating and set a $29.00 price target on shares of G-III Apparel Group in a research report on Friday, March 22nd. Barclays reiterated an “underweight” rating and issued a $23.00 price objective (down from $30.00) on shares of G-III Apparel Group in a report on Monday, March 4th. Finally, Wells Fargo & Company reduced their target price on G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $25.83.

G-III Apparel Group Stock Performance

NASDAQ GIII opened at $27.28 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. The stock’s fifty day moving average is $29.61 and its two-hundred day moving average is $29.28. The firm has a market capitalization of $1.24 billion, a P/E ratio of 7.24 and a beta of 2.41. G-III Apparel Group, Ltd. has a fifty-two week low of $14.49 and a fifty-two week high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly 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 net margin of 5.69% and a return on equity of 13.07%. The firm had revenue of $764.80 million for the quarter, compared to analysts’ expectations of $816.98 million. During the same quarter in the previous year, the company posted $0.41 EPS. The company’s revenue was down 10.5% compared to the same quarter last year. On average, research analysts anticipate that G-III Apparel Group, Ltd. will post 3.55 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.