Zions Bancorporation N.A. Lowers Stock Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Zions Bancorporation N.A. trimmed its position in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 2.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,903 shares of the textile maker’s stock after selling 1,207 shares during the quarter. Zions Bancorporation N.A. owned about 0.09% of G-III Apparel Group worth $1,080,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Teacher Retirement System of Texas lifted its stake in shares of G-III Apparel Group by 160.9% in the 4th quarter. Teacher Retirement System of Texas now owns 25,707 shares of the textile maker’s stock valued at $874,000 after purchasing an additional 15,855 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in G-III Apparel Group by 43.2% in the fourth quarter. BNP Paribas Financial Markets now owns 136,027 shares of the textile maker’s stock worth $4,622,000 after acquiring an additional 41,043 shares during the period. Dimensional Fund Advisors LP grew its holdings in G-III Apparel Group by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,777,980 shares of the textile maker’s stock worth $94,396,000 after acquiring an additional 145,232 shares in the last quarter. Norges Bank purchased a new position in G-III Apparel Group during the 4th quarter valued at about $9,440,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in G-III Apparel Group during the 4th quarter valued at about $1,417,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Price Performance

NASDAQ GIII opened at $31.19 on Friday. The firm’s fifty day simple moving average is $26.58 and its two-hundred day simple moving average is $27.69. The firm has a market capitalization of $1.37 billion, a P/E ratio of 8.16 and a beta of 2.19. The company has a current ratio of 2.92, a quick ratio of 2.62 and a debt-to-equity ratio of 0.27. G-III Apparel Group, Ltd. has a 12-month low of $20.66 and a 12-month high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.25. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The firm had revenue of $644.80 million for the quarter, compared to the consensus estimate of $649.54 million. During the same period in the previous year, the business earned $0.40 EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. Analysts forecast that G-III Apparel Group, Ltd. will post 4.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Telsey Advisory Group reiterated a “market perform” rating and set a $29.00 price objective on shares of G-III Apparel Group in a research note on Thursday, September 5th. KeyCorp increased their target price on G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Barclays lifted their price target on G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Finally, StockNews.com cut G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Saturday. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, G-III Apparel Group presently has an average rating of “Hold” and a consensus target price of $28.80.

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.