US Bancorp DE Lowers Stock Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

US Bancorp DE reduced its position in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 5.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,326 shares of the textile maker’s stock after selling 455 shares during the quarter. US Bancorp DE’s holdings in G-III Apparel Group were worth $224,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GIII. Allspring Global Investments Holdings LLC bought a new position in G-III Apparel Group in the 1st quarter valued at $171,000. Texas Permanent School Fund Corp increased its holdings in shares of G-III Apparel Group by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 35,618 shares of the textile maker’s stock worth $1,033,000 after purchasing an additional 482 shares during the period. SG Americas Securities LLC raised its position in shares of G-III Apparel Group by 114.0% in the first quarter. SG Americas Securities LLC now owns 36,349 shares of the textile maker’s stock worth $1,054,000 after buying an additional 19,362 shares in the last quarter. ProShare Advisors LLC boosted its stake in G-III Apparel Group by 7.4% during the first quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock valued at $241,000 after buying an additional 572 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its position in G-III Apparel Group by 64.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 19,821 shares of the textile maker’s stock worth $575,000 after buying an additional 7,800 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on GIII. Barclays raised their price target on G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Telsey Advisory Group reiterated a “market perform” rating and set a $29.00 target price on shares of G-III Apparel Group in a research report on Thursday, September 5th. StockNews.com lowered shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. KeyCorp raised their price objective on shares of G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Guggenheim assumed coverage on shares of G-III Apparel Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $36.00 target price for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, G-III Apparel Group has a consensus rating of “Hold” and a consensus target price of $30.00.

Insider Buying and Selling at G-III Apparel Group

In related news, CEO Morris Goldfarb sold 67,014 shares of G-III Apparel Group stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total value of $2,030,524.20. Following the transaction, the chief executive officer now directly owns 3,923,071 shares of the company’s stock, valued at $118,869,051.30. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 12.40% of the company’s stock.

G-III Apparel Group Trading Down 0.2 %

Shares of GIII opened at $30.79 on Friday. G-III Apparel Group, Ltd. has a fifty-two week low of $20.66 and a fifty-two week high of $35.68. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 7.70 and a beta of 2.19. The firm has a 50 day moving average price of $30.89 and a 200-day moving average price of $28.37. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.80 and a current ratio of 2.92.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.25. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The business had revenue of $644.80 million during the quarter, compared to the consensus estimate of $649.54 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities research analysts forecast that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current 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.