Bank of New York Mellon Corp Purchases 16,720 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Bank of New York Mellon Corp increased its position in G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 319,820 shares of the textile maker's stock after purchasing an additional 16,720 shares during the period. Bank of New York Mellon Corp owned 0.73% of G-III Apparel Group worth $10,433,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd boosted its holdings in shares of G-III Apparel Group by 33.0% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 13,413 shares of the textile maker's stock valued at $438,000 after buying an additional 3,325 shares in the last quarter. Ieq Capital LLC bought a new stake in G-III Apparel Group during the fourth quarter worth about $331,000. New York State Common Retirement Fund grew 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 worth $1,438,000 after purchasing an additional 14,016 shares during the period. Sanctuary Advisors LLC grew its holdings in G-III Apparel Group by 4.3% in the fourth quarter. Sanctuary Advisors LLC now owns 15,195 shares of the textile maker's stock worth $500,000 after purchasing an additional 631 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of G-III Apparel Group by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 213,035 shares of the textile maker's stock valued at $6,949,000 after purchasing an additional 3,484 shares in the last quarter. Institutional investors own 92.13% of the company's stock.

Analysts Set New Price Targets

GIII has been the topic of a number of analyst reports. KeyCorp boosted their price target on G-III Apparel Group from $34.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. Barclays increased their target price on G-III Apparel Group from $27.00 to $29.00 and gave the stock an "underweight" rating in a research note on Wednesday, December 11th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $38.00 price target on shares of G-III Apparel Group in a research report on Wednesday, December 18th. UBS Group dropped their price target on shares of G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Finally, StockNews.com lowered shares of G-III Apparel Group from a "buy" rating to a "hold" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $33.33.

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G-III Apparel Group Trading Up 3.0 %

G-III Apparel Group stock opened at $26.10 on Friday. G-III Apparel Group, Ltd. has a one year low of $20.66 and a one year high of $36.18. The business's fifty day moving average is $29.68 and its 200 day moving average is $30.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.75. The stock has a market capitalization of $1.15 billion, a PE ratio of 6.85 and a beta of 2.09.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last announced its quarterly 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 firm had revenue of $839.50 million for the quarter, compared to the consensus estimate of $808.59 million. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.76 EPS. On average, sell-side analysts predict that G-III Apparel Group, Ltd. will post 4.16 EPS for the current 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.

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