Geode Capital Management LLC Has $29.83 Million Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Geode Capital Management LLC raised its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 1.2% in the third quarter, Holdings Channel.com reports. The fund owned 977,331 shares of the textile maker’s stock after acquiring an additional 11,196 shares during the quarter. Geode Capital Management LLC’s holdings in G-III Apparel Group were worth $29,833,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vestcor Inc raised 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 valued at $956,000 after purchasing an additional 20,800 shares in the last quarter. Foundry Partners LLC bought a new position in G-III Apparel Group during the second quarter valued at about $518,000. Jane Street Group LLC lifted its position in shares of G-III Apparel Group by 269.9% in the third quarter. Jane Street Group LLC now owns 251,146 shares of the textile maker’s stock worth $7,665,000 after buying an additional 183,246 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of G-III Apparel Group by 4.9% during the 3rd quarter. Victory Capital Management Inc. now owns 92,136 shares of the textile maker’s stock worth $2,812,000 after acquiring an additional 4,294 shares in the last quarter. Finally, Point72 DIFC Ltd increased its holdings in shares of G-III Apparel Group by 103.2% during the 3rd 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 during the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

G-III Apparel Group Trading Down 0.1 %

Shares of GIII opened at $33.14 on Friday. The stock’s 50-day moving average price is $31.62 and its 200 day moving average price is $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. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 8.70 and a beta of 2.14.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Tuesday, December 10th. The textile maker reported $2.59 EPS for the quarter, topping the consensus estimate of $2.26 by $0.33. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. 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 1.9% compared to the same quarter last year. During the same period last year, the business earned $2.78 earnings per share. As a group, research analysts predict that G-III Apparel Group, Ltd. will post 4.15 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on GIII. StockNews.com upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Monday, December 2nd. Guggenheim upped their price objective on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Barclays boosted their target price 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. KeyCorp lifted their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $38.00 price objective on shares of G-III Apparel Group in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, G-III Apparel Group has a consensus rating of “Hold” and a consensus price target of $33.17.

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.