Canada Pension Plan Investment Board Sells 15,300 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Canada Pension Plan Investment Board reduced its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 62.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 9,100 shares of the textile maker's stock after selling 15,300 shares during the period. Canada Pension Plan Investment Board's holdings in G-III Apparel Group were worth $297,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. New York State Common Retirement Fund raised its holdings in G-III Apparel Group by 46.6% during the 4th quarter. New York State Common Retirement Fund now owns 44,071 shares of the textile maker's stock worth $1,438,000 after buying an additional 14,016 shares during the period. JPMorgan Chase & Co. raised its holdings in G-III Apparel Group by 80.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 133,518 shares of the textile maker's stock worth $4,075,000 after buying an additional 59,718 shares during the period. Victory Capital Management Inc. raised its holdings in 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 buying an additional 472,862 shares during the period. Geode Capital Management LLC raised its holdings in G-III Apparel Group by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker's stock worth $29,833,000 after buying an additional 11,196 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in shares of G-III Apparel Group during the 4th quarter worth approximately $375,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

G-III Apparel Group Stock Performance

Shares of GIII stock traded down $0.83 on Monday, reaching $25.04. The stock had a trading volume of 403,073 shares, compared to its average volume of 555,230. 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 firm's 50-day moving average is $25.91 and its two-hundred day moving average is $29.50. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 6.57 and a beta of 1.63. G-III Apparel Group, Ltd. has a 12 month low of $20.66 and a 12 month high of $36.18.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last issued 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 company had revenue of $839.50 million for the quarter, compared to analysts' expectations of $808.59 million. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. G-III Apparel Group's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 EPS. On average, research analysts expect that G-III Apparel Group, Ltd. will post 4.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GIII has been the subject of several research reports. UBS Group decreased 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 note on Tuesday, March 4th. Barclays decreased their price target on shares of G-III Apparel Group from $25.00 to $21.00 and set an "underweight" rating for the company in a research note on Monday. StockNews.com cut shares of G-III Apparel Group from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th. Finally, 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 note on Friday, April 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, G-III Apparel Group presently has an average rating of "Hold" and an average price target of $32.20.

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.