New York State Teachers Retirement System Decreases Stake in G-III Apparel Group, Ltd. (NASDAQ:GIII)

New York State Teachers Retirement System decreased its stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,412 shares of the textile maker’s stock after selling 388 shares during the period. New York State Teachers Retirement System owned approximately 0.10% of G-III Apparel Group worth $1,449,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of G-III Apparel Group in the 3rd quarter worth approximately $63,000. CWM LLC grew its position in shares of G-III Apparel Group by 46.8% in the third quarter. CWM LLC now owns 2,777 shares of the textile maker’s stock valued at $85,000 after purchasing an additional 885 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in shares of G-III Apparel Group by 93.2% during the 3rd 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 last quarter. Point72 Hong Kong Ltd purchased a new position in G-III Apparel Group during the third quarter worth $152,000. Finally, Point72 DIFC Ltd lifted its position in shares of G-III Apparel Group by 103.2% in the third quarter. Point72 DIFC Ltd now owns 5,821 shares of the textile maker’s stock valued at $178,000 after acquiring an additional 2,957 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

G-III Apparel Group Trading Down 2.4 %

Shares of GIII stock opened at $28.16 on Friday. The firm has a market capitalization of $1.24 billion, a PE ratio of 7.39 and a beta of 2.07. The stock has a fifty day moving average of $31.50 and a two-hundred day moving average of $30.38. G-III Apparel Group, Ltd. has a 1 year low of $20.66 and a 1 year high of $36.18. 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 (NASDAQ:GIII) last posted its quarterly earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the company earned $2.78 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. As a group, research analysts expect that G-III Apparel Group, Ltd. will post 4.16 EPS for the current year.

About G-III Apparel Group

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.