Teacher Retirement System of Texas Raises Stake in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Teacher Retirement System of Texas increased its stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 44.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 88,908 shares of the textile maker’s stock after acquiring an additional 27,177 shares during the quarter. Teacher Retirement System of Texas’ holdings in G-III Apparel Group were worth $2,900,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in shares of G-III Apparel Group by 513.2% during the fourth quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker’s stock worth $18,430,000 after acquiring an additional 472,862 shares during the period. Barclays PLC grew its stake in G-III Apparel Group by 236.4% in the third quarter. Barclays PLC now owns 282,661 shares of the textile maker’s stock worth $8,627,000 after purchasing an additional 198,647 shares in the last quarter. Jane Street Group LLC increased its holdings in G-III Apparel Group by 269.9% during the 3rd quarter. Jane Street Group LLC now owns 251,146 shares of the textile maker’s stock worth $7,665,000 after purchasing an additional 183,246 shares during the period. Raymond James Financial Inc. bought a new stake in G-III Apparel Group during the 4th quarter valued at $5,428,000. Finally, Point72 Asset Management L.P. lifted its holdings in shares of G-III Apparel Group by 102.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 180,000 shares of the textile maker’s stock worth $5,494,000 after buying an additional 90,993 shares during the period. Institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Down 1.7 %

Shares of G-III Apparel Group stock opened at $27.11 on Wednesday. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.19 billion, a P/E ratio of 7.12 and a beta of 2.09. The firm’s 50 day moving average price is $28.76 and its 200-day moving average price is $30.48. G-III Apparel Group, Ltd. has a 52-week low of $20.66 and a 52-week high of $36.18.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GIII shares. 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 research note on Friday, March 14th. KeyCorp boosted their price target on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. UBS Group lowered their price target 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. StockNews.com lowered shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Finally, Barclays lowered their target price on G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating for the company in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.00.

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.