Invesco Ltd. Trims Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Invesco Ltd. reduced its position in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 4.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 899,955 shares of the textile maker’s stock after selling 37,508 shares during the period. Invesco Ltd. owned about 2.05% of G-III Apparel Group worth $29,357,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GIII. American Century Companies Inc. grew its position in shares of G-III Apparel Group by 11.8% in the fourth quarter. American Century Companies Inc. now owns 1,461,446 shares of the textile maker’s stock valued at $47,672,000 after purchasing an additional 153,913 shares during the period. Geode Capital Management LLC grew its holdings in G-III Apparel Group by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock valued at $29,833,000 after buying an additional 11,196 shares during the period. Prudential Financial Inc. increased its stake in shares of G-III Apparel Group by 2.6% during the 4th quarter. Prudential Financial Inc. now owns 772,447 shares of the textile maker’s stock valued at $25,197,000 after acquiring an additional 19,723 shares during the last quarter. Victory Capital Management Inc. lifted 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 acquiring an additional 472,862 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of G-III Apparel Group by 3.5% during the 4th quarter. Empowered Funds LLC now owns 339,601 shares of the textile maker’s stock worth $11,078,000 after acquiring an additional 11,478 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GIII. Telsey Advisory Group reaffirmed a “market perform” rating and set a $30.00 price target on shares of G-III Apparel Group in a research report on Friday, April 4th. UBS Group dropped their price objective on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. StockNews.com cut G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 9th. Finally, Barclays dropped their price target on G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating for the company in a research note on Tuesday, March 18th. One investment 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $33.00.

G-III Apparel Group Stock Up 2.9 %

Shares of G-III Apparel Group stock opened at $24.22 on Friday. G-III Apparel Group, Ltd. has a twelve month low of $20.66 and a twelve month high of $36.18. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 6.36 and a beta of 1.63. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average price of $26.57 and a 200 day moving average price of $29.74.

G-III Apparel Group (NASDAQ:GIII) last posted its earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share (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%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 earnings per share. Equities research analysts forecast that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current fiscal year.

G-III Apparel Group 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.