Zions Bancorporation N.A. Increases Stake in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Zions Bancorporation N.A. increased its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 18.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,248 shares of the textile maker’s stock after purchasing an additional 7,345 shares during the period. Zions Bancorporation N.A.’s holdings in G-III Apparel Group were worth $1,442,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in GIII. Vanguard Group Inc. boosted its stake in shares of G-III Apparel Group by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 5,046,803 shares of the textile maker’s stock valued at $146,408,000 after purchasing an additional 292,668 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of G-III Apparel Group by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker’s stock valued at $91,396,000 after purchasing an additional 151,425 shares during the last quarter. American Century Companies Inc. increased its holdings in G-III Apparel Group by 15.6% during the second quarter. American Century Companies Inc. now owns 1,147,175 shares of the textile maker’s stock valued at $31,054,000 after buying an additional 155,079 shares during the last quarter. LSV Asset Management increased its holdings in G-III Apparel Group by 0.6% during the second quarter. LSV Asset Management now owns 851,683 shares of the textile maker’s stock valued at $23,055,000 after buying an additional 5,200 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in shares of G-III Apparel Group by 142.8% in the second quarter. Marshall Wace LLP now owns 351,918 shares of the textile maker’s stock worth $9,526,000 after purchasing an additional 206,993 shares during the period. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on GIII. Guggenheim started coverage on shares of G-III Apparel Group in a research report on Wednesday, October 9th. They set a “buy” rating and a $36.00 price objective for the company. Barclays raised their target price on shares of G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. KeyCorp raised their target price on shares of 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. StockNews.com cut shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $29.00 price target on shares of G-III Apparel Group in a research report on Thursday, September 5th. Two 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. According to data from MarketBeat.com, G-III Apparel Group currently has an average rating of “Hold” and a consensus target price of $30.00.

G-III Apparel Group Stock Performance

Shares of GIII opened at $30.79 on Friday. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 7.70 and a beta of 2.19. G-III Apparel Group, Ltd. has a 52-week low of $20.66 and a 52-week high of $35.68. The company has a quick ratio of 1.80, a current ratio of 2.92 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average price of $30.89 and a 200 day moving average price of $28.37.

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

Insider Transactions at G-III Apparel Group

In related news, CEO Morris Goldfarb sold 67,014 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the transaction, the chief executive officer now directly owns 3,923,071 shares of the company’s stock, valued at approximately $118,869,051.30. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.40% of the company’s stock.

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.