Bank of New York Mellon Corp Lowers Stock Holdings in G-III Apparel Group, LTD. (NASDAQ:GIII)

Bank of New York Mellon Corp decreased its position in shares of G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 5.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 302,441 shares of the textile maker's stock after selling 17,379 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.69% of G-III Apparel Group worth $8,272,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in shares of G-III Apparel Group by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 218,559 shares of the textile maker's stock worth $5,978,000 after buying an additional 5,524 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in G-III Apparel Group by 15.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 20,617 shares of the textile maker's stock valued at $564,000 after purchasing an additional 2,831 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in G-III Apparel Group by 11.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 133,980 shares of the textile maker's stock valued at $3,664,000 after purchasing an additional 13,541 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in G-III Apparel Group by 5.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,600 shares of the textile maker's stock valued at $454,000 after purchasing an additional 861 shares during the last quarter. Finally, RHS Financial LLC grew its stake in G-III Apparel Group by 10.6% in the 1st quarter. RHS Financial LLC now owns 13,295 shares of the textile maker's stock worth $364,000 after acquiring an additional 1,276 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company's stock.

Insider Buying and Selling at G-III Apparel Group

In other G-III Apparel Group news, Director Amigo Victor Herrero acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were purchased at an average cost of $21.95 per share, with a total value of $109,750.00. Following the purchase, the director owned 54,746 shares in the company, valued at approximately $1,201,674.70. The trade was a 10.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 13.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. KeyCorp decreased their target price on shares of G-III Apparel Group from $40.00 to $30.00 and set an "overweight" rating for the company in a research report on Monday, June 9th. 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 note on Monday, June 9th. Wall Street Zen lowered shares of G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday, June 14th. UBS Group decreased 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 report on Monday, June 9th. Finally, Telsey Advisory Group decreased 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 report on Monday, June 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $27.80.

G-III Apparel Group Trading Up 1.3%

Shares of NASDAQ:GIII opened at $23.51 on Wednesday. The company has a market capitalization of $1.02 billion, a PE ratio of 5.44 and a beta of 1.38. G-III Apparel Group, LTD. has a twelve month low of $20.33 and a twelve month high of $36.18. The firm has a 50 day simple moving average of $24.70 and a 200-day simple moving average of $26.67.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings results on Friday, June 6th. The textile maker reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. G-III Apparel Group had a net margin of 6.20% and a return on equity of 12.65%. The firm had revenue of $583.61 million during the quarter, compared to the consensus estimate of $579.48 million. During the same quarter in the prior year, the firm earned $0.12 EPS. G-III Apparel Group's revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities research analysts predict that G-III Apparel Group, LTD. will post 4.16 EPS 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.

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