Geode Capital Management LLC Cuts Stock Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Geode Capital Management LLC cut its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 955,757 shares of the textile maker's stock after selling 21,574 shares during the quarter. Geode Capital Management LLC owned 2.18% of G-III Apparel Group worth $31,184,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. New York State Common Retirement Fund boosted its stake in shares of 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 valued at $1,438,000 after buying an additional 14,016 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of 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 purchasing an additional 59,718 shares during the period. Victory Capital Management Inc. increased its holdings in shares of G-III Apparel Group by 513.2% in the 4th quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker's stock valued at $18,430,000 after purchasing an additional 472,862 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of G-III Apparel Group in the 4th quarter valued at about $375,000. Finally, EMC Capital Management lifted its stake in shares of G-III Apparel Group by 345.5% in the fourth quarter. EMC Capital Management now owns 11,965 shares of the textile maker's stock valued at $390,000 after purchasing an additional 9,279 shares during the period. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

G-III Apparel Group Price Performance

Shares of GIII traded up $0.11 during trading hours on Tuesday, reaching $24.71. 612,271 shares of the company traded hands, compared to its average volume of 555,556. The stock has a fifty day simple moving average of $26.25 and a 200 day simple moving average of $29.63. 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 stock has a market capitalization of $1.08 billion, a PE ratio of 6.49 and a beta of 1.63. G-III Apparel Group, Ltd. has a fifty-two week low of $20.66 and a fifty-two week high of $36.18.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on GIII. StockNews.com downgraded shares of G-III Apparel Group from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th. UBS Group decreased their target price on G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. 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 report on Tuesday, March 18th. Finally, Telsey Advisory Group reiterated a "market perform" rating and issued a $30.00 price objective on shares of G-III Apparel Group in a research report on Friday, April 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, G-III Apparel Group 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.