G-III Apparel Group, Ltd. (NASDAQ:GIII) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 1.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 234,814 shares of the textile maker’s stock after purchasing an additional 3,222 shares during the quarter. Principal Financial Group Inc.’s holdings in G-III Apparel Group were worth $6,812,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hsbc Holdings PLC lifted its holdings in shares of G-III Apparel Group by 1.1% in the 4th quarter. Hsbc Holdings PLC now owns 48,671 shares of the textile maker’s stock worth $1,640,000 after acquiring an additional 532 shares during the last quarter. Counterpoint Mutual Funds LLC lifted its holdings in shares of G-III Apparel Group by 12.0% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 5,998 shares of the textile maker’s stock worth $204,000 after acquiring an additional 644 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of G-III Apparel Group by 9.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 8,320 shares of the textile maker’s stock worth $283,000 after acquiring an additional 700 shares during the last quarter. Range Financial Group LLC lifted its holdings in shares of G-III Apparel Group by 5.5% in the 4th quarter. Range Financial Group LLC now owns 21,301 shares of the textile maker’s stock worth $724,000 after acquiring an additional 1,103 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of G-III Apparel Group in the 1st quarter worth approximately $35,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

G-III Apparel Group Stock Up 0.2 %

Shares of NASDAQ:GIII traded up $0.04 during trading hours on Friday, reaching $26.51. The stock had a trading volume of 76,936 shares, compared to its average volume of 622,440. G-III Apparel Group, Ltd. has a 1 year low of $18.47 and a 1 year high of $35.68. The firm’s 50 day moving average is $27.97 and its 200-day moving average is $29.59. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.62 and a current ratio of 3.79. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 6.93 and a beta of 2.24.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Thursday, June 6th. The textile maker reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.17. G-III Apparel Group had a net margin of 5.76% and a return on equity of 12.75%. The company had revenue of $609.75 million for the quarter, compared to the consensus estimate of $615.10 million. Research analysts predict that G-III Apparel Group, Ltd. will post 3.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GIII. UBS Group decreased their price objective on shares of G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Wells Fargo & Company cut their target price on shares of G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, March 15th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $29.00 target price on shares of G-III Apparel Group in a research note on Monday, June 3rd. StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, TheStreet raised shares of G-III Apparel Group from a “c+” rating to a “b” rating in a research note on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, G-III Apparel Group currently has an average rating of “Hold” and a consensus target price of $27.60.

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.