Vestcor Inc Grows Stock Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Vestcor Inc increased its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,988 shares of the textile maker’s stock after buying an additional 665 shares during the quarter. Vestcor Inc owned about 0.07% of G-III Apparel Group worth $1,043,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. New York State Common Retirement Fund grew its holdings in shares of G-III Apparel Group by 46.6% during the fourth quarter. New York State Common Retirement Fund now owns 44,071 shares of the textile maker’s stock worth $1,438,000 after buying an additional 14,016 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of G-III Apparel Group by 80.9% during the third quarter. JPMorgan Chase & Co. now owns 133,518 shares of the textile maker’s stock worth $4,075,000 after buying an additional 59,718 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of G-III Apparel Group by 1.2% during the third quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock worth $29,833,000 after buying an additional 11,196 shares during the last quarter. EMC Capital Management lifted its position in G-III Apparel Group by 345.5% in the fourth quarter. EMC Capital Management now owns 11,965 shares of the textile maker’s stock valued at $390,000 after purchasing an additional 9,279 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in G-III Apparel Group in the fourth quarter valued at about $513,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Trading Up 2.2 %

Shares of G-III Apparel Group stock opened at $26.67 on Friday. 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, Ltd. has a 1 year low of $20.66 and a 1 year high of $36.18. The company has a market capitalization of $1.17 billion, a P/E ratio of 7.00 and a beta of 2.09. The business has a 50 day moving average price of $29.46 and a 200 day moving average price of $30.48.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $808.59 million. During the same period in the previous year, the firm posted $0.76 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Sell-side analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GIII has been the subject of a number of recent analyst reports. UBS Group reduced their price objective on shares of G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Guggenheim raised their price objective on shares of G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Barclays raised 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. KeyCorp raised their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, StockNews.com downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average 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.