Royce & Associates LP Sells 8,591 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Royce & Associates LP cut its stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 22.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 29,473 shares of the textile maker’s stock after selling 8,591 shares during the period. Royce & Associates LP’s holdings in G-III Apparel Group were worth $961,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. New York State Common Retirement Fund boosted its holdings in G-III Apparel Group by 46.6% in the fourth quarter. New York State Common Retirement Fund now owns 44,071 shares of the textile maker’s stock valued at $1,438,000 after acquiring an additional 14,016 shares during the last quarter. Vestcor Inc boosted its holdings in shares of 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 in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of 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 buying an additional 59,718 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of G-III Apparel Group by 513.2% during the 4th quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker’s stock worth $18,430,000 after buying an additional 472,862 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of G-III Apparel Group by 1.2% during the 3rd 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 in the last quarter. 92.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GIII shares. UBS Group cut their price target on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Telsey Advisory Group cut their price target on G-III Apparel Group from $38.00 to $30.00 and set a “market perform” rating on the stock in a report on Friday, March 14th. KeyCorp increased their price target on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. StockNews.com cut G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Finally, Guggenheim upped their target price on 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $33.00.

G-III Apparel Group Price Performance

Shares of NASDAQ:GIII opened at $26.20 on Friday. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. G-III Apparel Group, Ltd. has a twelve month low of $20.66 and a twelve month high of $36.18. The stock’s 50 day moving average is $28.89 and its 200-day moving average is $30.46. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 6.88 and a beta of 2.09.

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

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.