Northern Trust Corp Boosts Stock Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Northern Trust Corp raised its holdings in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 21.8% during the fourth quarter, HoldingsChannel reports. The firm owned 520,931 shares of the textile maker’s stock after purchasing an additional 93,263 shares during the period. Northern Trust Corp’s holdings in G-III Apparel Group were worth $16,993,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Sanctuary Advisors LLC increased its position in G-III Apparel Group by 4.3% during the 4th quarter. Sanctuary Advisors LLC now owns 15,195 shares of the textile maker’s stock valued at $500,000 after purchasing an additional 631 shares during the period. Vestcor Inc increased its position in G-III Apparel Group by 2.1% during the 4th quarter. Vestcor Inc now owns 31,988 shares of the textile maker’s stock valued at $1,043,000 after purchasing an additional 665 shares during the period. Atria Investments Inc increased its position in G-III Apparel Group by 9.1% during the 4th quarter. Atria Investments Inc now owns 8,102 shares of the textile maker’s stock valued at $264,000 after purchasing an additional 673 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of G-III Apparel Group by 7.8% in the 4th quarter. Sterling Capital Management LLC now owns 15,103 shares of the textile maker’s stock valued at $493,000 after buying an additional 1,090 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of G-III Apparel Group by 249.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock valued at $64,000 after buying an additional 1,412 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Down 0.3%

Shares of G-III Apparel Group stock opened at $28.05 on Thursday. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. G-III Apparel Group, Ltd. has a 52-week low of $20.66 and a 52-week high of $36.18. The company has a market cap of $1.23 billion, a P/E ratio of 7.36 and a beta of 1.41. The firm’s 50 day moving average price is $25.76 and its 200-day moving average price is $29.09.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly 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. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The business had revenue of $839.50 million for the quarter, compared to analyst estimates of $808.59 million. During the same quarter in the prior year, the business posted $0.76 EPS. G-III Apparel Group’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side 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 analysts have recently issued reports on the stock. Telsey Advisory Group reaffirmed 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. Barclays cut their price objective on shares of G-III Apparel Group from $25.00 to $21.00 and set an “underweight” rating on the stock in a research report on Monday, April 28th. UBS Group cut their price objective on shares of 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. Finally, StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $32.20.

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.