Northern Trust Corp Purchases 93,263 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Northern Trust Corp lifted its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 21.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 520,931 shares of the textile maker's stock after buying an additional 93,263 shares during the quarter. Northern Trust Corp owned about 1.19% of G-III Apparel Group worth $16,993,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. New York State Common Retirement Fund boosted its stake in 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 acquiring an additional 14,016 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in G-III Apparel Group by 80.9% during the third quarter. JPMorgan Chase & Co. now owns 133,518 shares of the textile maker's stock worth $4,075,000 after acquiring an additional 59,718 shares in the last quarter. Victory Capital Management Inc. boosted its stake in 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 acquiring an additional 472,862 shares in the last quarter. Proficio Capital Partners LLC bought a new position in G-III Apparel Group during the fourth quarter worth $375,000. Finally, EMC Capital Management lifted its stake in shares of G-III Apparel Group by 345.5% in the fourth quarter. EMC Capital Management now owns 11,965 shares of the textile maker's stock valued at $390,000 after buying an additional 9,279 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. StockNews.com raised shares of G-III Apparel Group from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. 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 dropped their price objective on shares of G-III Apparel Group from $25.00 to $21.00 and set an "underweight" rating on the stock in a research note on Monday, April 28th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $30.00 price objective on shares of G-III Apparel Group in a research note on Friday, April 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $32.20.

G-III Apparel Group Stock Performance

GIII stock traded up $0.25 during mid-day trading on Friday, hitting $28.13. The company had a trading volume of 265,670 shares, compared to its average volume of 557,533. The firm has a market cap of $1.23 billion, a PE ratio of 7.38 and a beta of 1.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63. G-III Apparel Group, Ltd. has a 12 month low of $20.66 and a 12 month high of $36.18. The stock's fifty day moving average price is $25.84 and its two-hundred day moving average price is $29.03.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The textile maker reported $1.27 EPS for the quarter, beating the consensus estimate of $0.97 by $0.30. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The company had revenue of $839.50 million during the quarter, compared to analysts' expectations of $808.59 million. During the same quarter in the previous year, the company earned $0.76 earnings per share. G-III Apparel Group's revenue for the quarter was up 9.8% on a year-over-year basis. On average, analysts forecast 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.