Ameriprise Financial Inc. Sells 107,643 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Ameriprise Financial Inc. lessened its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 33.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 215,843 shares of the textile maker's stock after selling 107,643 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.49% of G-III Apparel Group worth $7,041,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New York State Common Retirement Fund grew its stake in shares of G-III Apparel Group by 46.6% during 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 buying an additional 14,016 shares during the last quarter. Victory Capital Management Inc. grew its stake 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 worth $18,430,000 after buying an additional 472,862 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of G-III Apparel Group during the fourth quarter worth $375,000. EMC Capital Management grew its stake in shares of G-III Apparel Group by 345.5% during the fourth quarter. EMC Capital Management now owns 11,965 shares of the textile maker's stock worth $390,000 after buying an additional 9,279 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in shares of G-III Apparel Group during the fourth quarter worth $513,000. Institutional investors own 92.13% of the company's stock.

Analysts Set New Price Targets

GIII has been the topic of a number of research reports. Wall Street Zen raised shares of G-III Apparel Group from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Telsey Advisory Group reiterated a "market perform" rating and set a $30.00 price target on shares of G-III Apparel Group in a report on Friday, April 4th. Barclays cut their price target on shares of G-III Apparel Group from $25.00 to $21.00 and set an "underweight" rating on the stock in a report on Monday, April 28th. Finally, UBS Group cut their price target on shares of G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $32.20.

G-III Apparel Group Trading Up 0.4%

GIII stock traded up $0.12 during midday trading on Wednesday, hitting $28.63. The stock had a trading volume of 96,270 shares, compared to its average volume of 552,044. The firm has a market cap of $1.26 billion, a P/E ratio of 7.48 and a beta of 1.41. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13. G-III Apparel Group, Ltd. has a 1-year low of $20.66 and a 1-year high of $36.18. The business has a fifty day moving average price of $26.04 and a two-hundred day moving average price of $28.90.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.30. The business had revenue of $839.50 million for 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%. G-III Apparel Group's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 earnings per share. On average, sell-side analysts predict 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.