Principal Financial Group Inc. Raises 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 1.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 234,814 shares of the textile maker’s stock after buying an additional 3,222 shares during the period. Principal Financial Group Inc. owned 0.52% of G-III Apparel Group worth $6,812,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new stake in G-III Apparel Group in the 1st quarter worth $35,000. Quest Partners LLC bought a new position in shares of G-III Apparel Group during the 4th quarter valued at about $56,000. Allspring Global Investments Holdings LLC bought a new position in shares of G-III Apparel Group during the 1st quarter valued at about $171,000. Counterpoint Mutual Funds LLC boosted its holdings in shares of G-III Apparel Group by 12.0% during the 4th quarter. Counterpoint Mutual Funds LLC now owns 5,998 shares of the textile maker’s stock valued at $204,000 after purchasing an additional 644 shares during the last quarter. Finally, Pallas Capital Advisors LLC bought a new position in shares of G-III Apparel Group during the 4th quarter valued at about $219,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Trading Up 0.2 %

G-III Apparel Group stock traded up $0.04 during midday trading on Friday, reaching $26.51. The stock had a trading volume of 76,936 shares, compared to its average volume of 622,440. The company has a quick ratio of 2.62, a current ratio of 3.79 and a debt-to-equity ratio of 0.26. G-III Apparel Group, Ltd. has a 52-week low of $18.47 and a 52-week high of $35.68. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 6.93 and a beta of 2.24. The company has a fifty day moving average of $27.97 and a 200 day moving average of $29.59.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Thursday, June 6th. The textile maker reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.17. G-III Apparel Group had a net margin of 5.76% and a return on equity of 12.75%. The company had revenue of $609.75 million for the quarter, compared to analyst estimates of $615.10 million. On average, analysts anticipate that G-III Apparel Group, Ltd. will post 3.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Thursday. UBS Group dropped their price objective on shares of G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Wells Fargo & Company lowered their price target on shares of G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Friday, March 15th. TheStreet raised shares of G-III Apparel Group from a “c+” rating to a “b” rating in a report on Thursday, March 14th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $29.00 price target on shares of G-III Apparel Group in a report on Monday, June 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.60.

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.