Principal Financial Group Inc. Grows Stock Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Principal Financial Group Inc. boosted its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 213,035 shares of the textile maker’s stock after buying an additional 3,484 shares during the period. Principal Financial Group Inc. owned 0.49% of G-III Apparel Group worth $6,949,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of G-III Apparel Group in the third quarter worth approximately $63,000. Point72 Asia Singapore Pte. Ltd. raised its stake in G-III Apparel Group by 93.2% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock worth $92,000 after purchasing an additional 1,460 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of G-III Apparel Group in the 3rd quarter valued at $152,000. Point72 DIFC Ltd grew its stake in shares of G-III Apparel Group by 103.2% during the 3rd quarter. Point72 DIFC Ltd now owns 5,821 shares of the textile maker’s stock valued at $178,000 after buying an additional 2,957 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of G-III Apparel Group during the 3rd quarter valued at $181,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Performance

Shares of NASDAQ:GIII opened at $27.07 on Monday. The business’s 50-day simple moving average is $30.79 and its 200 day simple moving average is $30.50. The company has a market cap of $1.19 billion, a P/E ratio of 7.11 and a beta of 2.07. 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 one year low of $20.66 and a one year high of $36.18.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.33. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.10 billion. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.78 earnings per share. On average, sell-side analysts forecast that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Telsey Advisory Group reiterated a “market perform” rating and issued a $38.00 target price on shares of G-III Apparel Group in a report on Wednesday, December 18th. KeyCorp lifted their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Barclays boosted their target price on G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a report on Wednesday, December 11th. Guggenheim raised their price target on shares of G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $33.17.

G-III Apparel Group Company 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.