G-III Apparel Group, Ltd. (NASDAQ:GIII) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 31.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 86,832 shares of the textile maker's stock after selling 39,095 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.19% of G-III Apparel Group worth $2,951,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of G-III Apparel Group by 2.0% in the third quarter. Vanguard Group Inc. now owns 4,702,233 shares of the textile maker's stock valued at $117,180,000 after acquiring an additional 92,673 shares during the period. Pacer Advisors Inc. grew its position 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 worth $123,019,000 after buying an additional 2,204,572 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of G-III Apparel Group by 5.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,118,951 shares of the textile maker's stock valued at $27,884,000 after buying an additional 60,669 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of G-III Apparel Group by 39.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 665,539 shares of the textile maker's stock valued at $16,585,000 after acquiring an additional 189,239 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in G-III Apparel Group by 23.5% in the third quarter. Invesco Ltd. now owns 643,282 shares of the textile maker's stock valued at $16,031,000 after acquiring an additional 122,484 shares in the last quarter. 92.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. UBS Group cut their price objective on G-III Apparel Group from $34.00 to $31.00 and set a "neutral" rating on the stock in a research report on Monday, March 18th. TheStreet raised shares of G-III Apparel Group from a "c+" rating to a "b" rating in a research report on Thursday, March 14th. StockNews.com cut 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 issued a $29.00 price objective on shares of G-III Apparel Group in a report on Friday, March 22nd. Finally, Wells Fargo & Company dropped their price target on G-III Apparel Group from $24.00 to $23.00 and set an "underweight" rating on the stock in a research report on Friday, March 15th. Two 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 stock. According to MarketBeat.com, G-III Apparel Group has an average rating of "Hold" and a consensus price target of $25.83.

G-III Apparel Group Stock Up 0.9 %

GIII traded up $0.26 during trading on Monday, hitting $28.68. 347,557 shares of the company's stock traded hands, compared to its average volume of 615,325. G-III Apparel Group, Ltd. has a 12-month low of $14.49 and a 12-month high of $35.68. The company's 50 day simple moving average is $29.08 and its two-hundred day simple moving average is $29.55. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 7.61 and a beta of 2.41. The company has a current ratio of 3.36, a quick ratio of 2.31 and a debt-to-equity ratio of 0.26.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last issued its earnings results on Thursday, March 14th. The textile maker reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.09. The company had revenue of $764.80 million for the quarter, compared to analysts' expectations of $816.98 million. G-III Apparel Group had a net margin of 5.69% and a return on equity of 13.07%. The firm's quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the company posted $0.41 earnings per share. Analysts predict that G-III Apparel Group, Ltd. will post 3.55 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.