Canada Pension Plan Investment Board Reduces Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Canada Pension Plan Investment Board lessened its position in G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 62.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,100 shares of the textile maker's stock after selling 15,300 shares during the period. Canada Pension Plan Investment Board's holdings in G-III Apparel Group were worth $297,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. New York State Common Retirement Fund lifted its stake in G-III Apparel Group by 46.6% in the fourth quarter. New York State Common Retirement Fund now owns 44,071 shares of the textile maker's stock worth $1,438,000 after acquiring an additional 14,016 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of G-III Apparel Group by 80.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 133,518 shares of the textile maker's stock valued at $4,075,000 after purchasing an additional 59,718 shares during the period. Victory Capital Management Inc. boosted its position in shares of 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. Geode Capital Management LLC grew its stake in G-III Apparel Group by 1.2% in the third quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker's stock worth $29,833,000 after purchasing an additional 11,196 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in G-III Apparel Group in the fourth quarter worth $375,000. Hedge funds and other institutional investors own 92.13% of the company's stock.

G-III Apparel Group Stock Up 0.0 %

G-III Apparel Group stock traded up $0.01 during trading hours on Thursday, hitting $25.23. The stock had a trading volume of 77,918 shares, compared to its average volume of 554,100. The stock's 50-day moving average price is $25.78 and its 200-day moving average price is $29.43. The stock has a market capitalization of $1.11 billion, a P/E ratio of 6.62 and a beta of 1.63. 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 - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The textile maker reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.30. The company had revenue of $839.50 million during the quarter, compared to analyst estimates of $808.59 million. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.76 EPS. Equities research analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on GIII. StockNews.com cut shares of G-III Apparel Group from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th. UBS Group dropped their price objective on shares of G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Barclays decreased their target price on shares of G-III Apparel Group from $25.00 to $21.00 and set an "underweight" rating for the company in a research note on Monday. Finally, 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. One research 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's stock. Based on data from MarketBeat.com, G-III Apparel Group currently has a consensus rating of "Hold" and an average target price of $32.20.

G-III Apparel Group Company 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.