Principal Financial Group Inc. increased its position in shares of G-III Apparel Group Ltd. (NASDAQ:GIII) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 287,984 shares of the company’s stock after buying an additional 8,102 shares during the period. Principal Financial Group Inc. owned about 0.63% of G-III Apparel Group worth $13,167,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Pitcairn Co. raised its stake in G-III Apparel Group by 0.3% in the second quarter. Pitcairn Co. now owns 4,565 shares of the company’s stock worth $208,000 after buying an additional 14 shares during the last quarter. BB&T Securities LLC acquired a new position in shares of G-III Apparel Group during the second quarter worth $235,000. Teacher Retirement System of Texas raised its position in shares of G-III Apparel Group by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 5,677 shares of the company’s stock worth $260,000 after buying an additional 687 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of G-III Apparel Group during the second quarter worth $288,000. Finally, FNY Managed Accounts LLC acquired a new position in shares of G-III Apparel Group during the second quarter worth $320,000. Institutional investors own 99.88% of the company’s stock.
Shares of G-III Apparel Group Ltd. (NASDAQ:GIII) opened at 29.54 on Monday. G-III Apparel Group Ltd. has a one year low of $28.26 and a one year high of $65.65. The stock has a market capitalization of $1.35 billion, a PE ratio of 14.36 and a beta of 0.75. The company’s 50-day moving average price is $32.68 and its 200 day moving average price is $41.04.
G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Tuesday, August 30th. The company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.21. The company had revenue of $442.30 million for the quarter, compared to analysts’ expectations of $484.85 million. G-III Apparel Group had a net margin of 4.13% and a return on equity of 10.91%. G-III Apparel Group’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share. Analysts anticipate that G-III Apparel Group Ltd. will post $2.12 EPS for the current year.
A number of equities analysts have weighed in on the company. Standpoint Research upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Tuesday, October 4th. Credit Agricole SA assumed coverage on G-III Apparel Group in a research note on Wednesday, September 28th. They issued an “outperform” rating and a $34.00 target price on the stock. Piper Jaffray Cos. restated a “hold” rating and issued a $31.00 target price on shares of G-III Apparel Group in a research note on Thursday, September 22nd. TheStreet lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 14th. Finally, Brean Capital restated a “buy” rating and issued a $41.00 target price on shares of G-III Apparel Group in a research note on Thursday, September 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $41.80.
G-III Apparel Group Company Profile
G-III Apparel Group, Ltd. (G-III) designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations, which consists of its licensed products and non-licensed products, and includes sales of products under brands licensed by the Company from third parties, as well as sales of products under its own brands and private label brands, and retail operations, which consists of the Wilsons Leather and G.H.
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