G-III Apparel Group, Ltd. (NASDAQ:GIII) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 977,331 shares of the textile maker’s stock after buying an additional 11,196 shares during the period. Geode Capital Management LLC owned approximately 2.23% of G-III Apparel Group worth $29,833,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GIII. Guidance Capital Inc. increased its stake in shares of G-III Apparel Group by 11.1% during the second quarter. Guidance Capital Inc. now owns 16,530 shares of the textile maker’s stock valued at $456,000 after acquiring an additional 1,657 shares during the period. Privium Fund Management UK Ltd acquired a new position in shares of G-III Apparel Group during the 2nd quarter valued at $1,514,000. Jackson Creek Investment Advisors LLC acquired a new position in shares of G-III Apparel Group during the 2nd quarter valued at $1,095,000. Victory Capital Management Inc. raised its stake in shares of G-III Apparel Group by 18.5% in the 2nd quarter. Victory Capital Management Inc. now owns 87,842 shares of the textile maker’s stock worth $2,378,000 after buying an additional 13,697 shares in the last quarter. Finally, Foundry Partners LLC acquired a new stake in shares of G-III Apparel Group in the second quarter valued at $518,000. 92.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Guggenheim boosted their price target on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Monday, December 2nd. Telsey Advisory Group restated a “market perform” rating and set a $38.00 target price on shares of G-III Apparel Group in a report on Wednesday, December 18th. Barclays raised their price objective on G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 11th. Finally, KeyCorp boosted their target price on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, G-III Apparel Group currently has a consensus rating of “Hold” and a consensus target price of $33.17.

G-III Apparel Group Price Performance

GIII opened at $33.14 on Friday. The firm has a market capitalization of $1.45 billion, a P/E ratio of 8.70 and a beta of 2.14. The stock has a fifty day moving average of $31.62 and a 200-day moving average of $29.09. The company has a quick ratio of 1.80, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. G-III Apparel Group, Ltd. has a 12-month low of $20.66 and a 12-month high of $36.18.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.33. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the business earned $2.78 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities analysts forecast that G-III Apparel Group, Ltd. will post 4.15 EPS 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.