US Bancorp DE Trims Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

US Bancorp DE decreased its holdings in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 5.8% in the third quarter, HoldingsChannel reports. The firm owned 7,326 shares of the textile maker’s stock after selling 455 shares during the quarter. US Bancorp DE’s holdings in G-III Apparel Group were worth $224,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Guidance Capital Inc. raised its stake in G-III Apparel Group by 2.0% in the third quarter. Guidance Capital Inc. now owns 16,861 shares of the textile maker’s stock worth $563,000 after buying an additional 331 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of G-III Apparel Group by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 35,618 shares of the textile maker’s stock worth $1,033,000 after acquiring an additional 482 shares during the period. SummerHaven Investment Management LLC grew its holdings in shares of G-III Apparel Group by 1.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 37,809 shares of the textile maker’s stock worth $1,023,000 after acquiring an additional 516 shares during the period. ProShare Advisors LLC raised its position in shares of G-III Apparel Group by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock worth $241,000 after acquiring an additional 572 shares in the last quarter. Finally, CWM LLC lifted its stake in shares of G-III Apparel Group by 46.8% in the 3rd 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 period. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Performance

Shares of GIII stock opened at $30.79 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.80 and a current ratio of 2.92. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 7.70 and a beta of 2.19. G-III Apparel Group, Ltd. has a one year low of $20.66 and a one year high of $35.68. The company’s 50-day moving average is $30.89 and its 200 day moving average is $28.37.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.25. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The company had revenue of $644.80 million during the quarter, compared to analyst estimates of $649.54 million. During the same period in the previous year, the business earned $0.40 EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. Sell-side analysts expect that G-III Apparel Group, Ltd. will post 4.01 EPS for the current fiscal year.

Insider Activity at G-III Apparel Group

In other G-III Apparel Group news, CEO Morris Goldfarb sold 100,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $31.59, for a total transaction of $3,159,000.00. Following the transaction, the chief executive officer now owns 3,990,085 shares in the company, valued at approximately $126,046,785.15. This represents a 2.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

GIII has been the topic of several recent research reports. StockNews.com cut G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Barclays increased their price target on shares of G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. KeyCorp lifted their price target on shares of G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Guggenheim began coverage on shares of G-III Apparel Group in a report on Wednesday, October 9th. They issued a “buy” rating and a $36.00 price objective on the stock. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $29.00 target price on shares of G-III Apparel Group in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $30.00.

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.