Charles Schwab Investment Management Inc. Trims Stock Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Charles Schwab Investment Management Inc. cut its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,034,421 shares of the textile maker’s stock after selling 1,737 shares during the quarter. Charles Schwab Investment Management Inc. owned 2.36% of G-III Apparel Group worth $33,743,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. New York State Common Retirement Fund increased its position in G-III Apparel Group by 46.6% during the 4th quarter. New York State Common Retirement Fund now owns 44,071 shares of the textile maker’s stock worth $1,438,000 after purchasing an additional 14,016 shares in the last quarter. Vestcor Inc increased its stake in G-III Apparel Group by 197.7% during the 3rd quarter. Vestcor Inc now owns 31,323 shares of the textile maker’s stock worth $956,000 after buying an additional 20,800 shares during the period. JPMorgan Chase & Co. increased its holdings in G-III Apparel Group by 80.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 133,518 shares of the textile maker’s stock worth $4,075,000 after purchasing an additional 59,718 shares during the last quarter. Geode Capital Management LLC increased its position in shares of G-III Apparel Group by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock worth $29,833,000 after purchasing an additional 11,196 shares during the last quarter. Finally, EMC Capital Management grew its position in shares of G-III Apparel Group by 345.5% in the 4th quarter. EMC Capital Management now owns 11,965 shares of the textile maker’s stock worth $390,000 after acquiring an additional 9,279 shares in the last quarter. 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 $26.67 on Monday. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 7.00 and a beta of 2.09. The business’s fifty day moving average price is $29.46 and its two-hundred day moving average price is $30.51. G-III Apparel Group, Ltd. has a fifty-two week low of $20.66 and a fifty-two week high of $36.18. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.75.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.30. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The firm had revenue of $839.50 million during the quarter, compared to analysts’ expectations of $808.59 million. During the same period last year, the firm posted $0.76 EPS. The business’s revenue was up 9.8% on a year-over-year basis. As a group, analysts predict that G-III Apparel Group, Ltd. will post 4.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays boosted their price objective on shares of G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a research report on Wednesday, December 11th. Telsey Advisory Group reduced their price objective on G-III Apparel Group from $38.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday. UBS Group dropped their target price on shares of G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. StockNews.com downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Finally, Guggenheim lifted their target price on shares of G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $33.80.

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.