Vanguard Group Inc. boosted its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 10.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,346,116 shares of the textile maker’s stock after buying an additional 426,960 shares during the quarter. Vanguard Group Inc. owned approximately 8.84% of G-III Apparel Group worth $209,439,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of GIII. Group One Trading L.P. raised its holdings in G-III Apparel Group by 118.7% in the 3rd quarter. Group One Trading L.P. now owns 3,103 shares of the textile maker’s stock valued at $150,000 after buying an additional 1,684 shares during the last quarter. Moody National Bank Trust Division acquired a new stake in G-III Apparel Group during the 3rd quarter valued at approximately $188,000. AMP Capital Investors Ltd acquired a new stake in G-III Apparel Group during the 2nd quarter valued at approximately $266,000. Pitcairn Co. acquired a new stake in G-III Apparel Group during the 3rd quarter valued at approximately $292,000. Finally, First Hawaiian Bank acquired a new stake in G-III Apparel Group during the 3rd quarter valued at approximately $299,000.
NASDAQ GIII traded up $0.30 during mid-day trading on Monday, hitting $34.86. The company’s stock had a trading volume of 341,607 shares, compared to its average volume of 547,079. G-III Apparel Group, Ltd. has a twelve month low of $25.43 and a twelve month high of $51.20. The company has a current ratio of 2.54, a quick ratio of 1.55 and a debt-to-equity ratio of 0.59. The company has a market cap of $1.71 billion, a P/E ratio of 21.79, a PEG ratio of 0.74 and a beta of 0.94.
G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Thursday, December 6th. The textile maker reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.07. G-III Apparel Group had a net margin of 3.75% and a return on equity of 11.60%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm posted $1.67 EPS. G-III Apparel Group’s revenue was up 4.7% compared to the same quarter last year. Sell-side analysts predict that G-III Apparel Group, Ltd. will post 2.75 EPS for the current year.
A number of analysts have weighed in on GIII shares. ValuEngine raised shares of G-III Apparel Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 17th. Zacks Investment Research downgraded shares of G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 6th. Needham & Company LLC set a $50.00 price objective on shares of G-III Apparel Group and gave the stock a “buy” rating in a research report on Friday, December 7th. They noted that the move was a valuation call. Telsey Advisory Group reaffirmed an “outperform” rating and set a $47.00 price objective (down previously from $54.00) on shares of G-III Apparel Group in a research report on Friday, December 7th. Finally, TheStreet downgraded shares of G-III Apparel Group from a “b-” rating to a “c+” rating in a research report on Thursday, December 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. G-III Apparel Group currently has an average rating of “Buy” and a consensus target price of $45.91.
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About G-III Apparel Group
G-III Apparel Group, Ltd. designs, manufactures, and markets women's and men's apparel in the United States and internationally. The company operates in 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.
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