California Public Employees Retirement System Sells 7,920 Shares of G-III Apparel Group, Ltd. (GIII)

California Public Employees Retirement System lowered its stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 12.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,991 shares of the textile maker’s stock after selling 7,920 shares during the period. California Public Employees Retirement System owned approximately 0.12% of G-III Apparel Group worth $1,617,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Allianz Asset Management GmbH increased its stake in shares of G-III Apparel Group by 4.8% in the third quarter. Allianz Asset Management GmbH now owns 210,161 shares of the textile maker’s stock worth $10,128,000 after purchasing an additional 9,583 shares during the period. Vanguard Group Inc. increased its stake in shares of G-III Apparel Group by 10.9% in the third quarter. Vanguard Group Inc. now owns 4,346,116 shares of the textile maker’s stock worth $209,439,000 after purchasing an additional 426,960 shares during the period. New Amsterdam Partners LLC NY bought a new position in shares of G-III Apparel Group in the fourth quarter worth about $2,536,000. Intrust Bank NA increased its stake in shares of G-III Apparel Group by 44.3% in the fourth quarter. Intrust Bank NA now owns 7,546 shares of the textile maker’s stock worth $210,000 after purchasing an additional 2,316 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of G-III Apparel Group by 571.8% in the third quarter. Hsbc Holdings PLC now owns 32,211 shares of the textile maker’s stock worth $1,550,000 after purchasing an additional 27,416 shares during the period.

Several brokerages recently issued reports on GIII. Bank of America set a $46.00 price target on G-III Apparel Group and gave the company a “buy” rating in a research note on Friday, March 22nd. Zacks Investment Research lowered G-III Apparel Group from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. BidaskClub upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Barclays restated a “hold” rating and set a $36.00 price target on shares of G-III Apparel Group in a research note on Sunday, January 13th. Finally, ValuEngine upgraded G-III Apparel Group from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $46.58.

Shares of GIII stock traded up $0.30 during trading hours on Friday, hitting $42.38. The company had a trading volume of 447,657 shares, compared to its average volume of 453,446. G-III Apparel Group, Ltd. has a 12 month low of $25.43 and a 12 month high of $51.20. The firm has a market cap of $2.06 billion, a P/E ratio of 14.82, a P/E/G ratio of 0.86 and a beta of 0.98. The company has a current ratio of 2.16, a quick ratio of 1.17 and a debt-to-equity ratio of 0.33.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, March 21st. The textile maker reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.11. G-III Apparel Group had a return on equity of 12.74% and a net margin of 4.49%. The company had revenue of $766.80 million for the quarter, compared to analyst estimates of $767.89 million. During the same period in the prior year, the company posted $0.26 EPS. The company’s revenue was up 7.3% compared to the same quarter last year. Sell-side analysts forecast that G-III Apparel Group, Ltd. will post 3.3 EPS for the current year.

In other news, Vice Chairman Sammy Aaron sold 71,766 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $41.33, for a total value of $2,966,088.78. Following the sale, the insider now directly owns 434,969 shares in the company, valued at approximately $17,977,268.77. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Laura H. Pomerantz sold 821 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $40.43, for a total value of $33,193.03. Following the completion of the sale, the director now owns 39,682 shares in the company, valued at $1,604,343.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,692 shares of company stock worth $3,086,681. Corporate insiders own 9.80% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “California Public Employees Retirement System Sells 7,920 Shares of G-III Apparel Group, Ltd. (GIII)” was originally reported by Baseball Daily News and is owned by of Baseball Daily News. If you are accessing this article on another publication, it was illegally copied and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://www.baseballdailydigest.com/news/2019/04/21/g-iii-apparel-group-ltd-giii-stake-decreased-by-california-public-employees-retirement-system.html.

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 in 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.

Featured Article: What is a Call Option?

Institutional Ownership by Quarter for G-III Apparel Group (NASDAQ:GIII)

Receive News & Ratings for G-III Apparel Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for G-III Apparel Group and related companies with MarketBeat.com's FREE daily email newsletter.