Schwab Charles Investment Management Inc. Has $11.28 Million Stake in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Schwab Charles Investment Management Inc. increased its holdings in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 7.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 388,826 shares of the textile maker’s stock after acquiring an additional 28,396 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.80% of G-III Apparel Group worth $11,284,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GIII. Aperio Group LLC bought a new position in G-III Apparel Group during the second quarter valued at approximately $204,000. Municipal Employees Retirement System of Michigan lifted its position in G-III Apparel Group by 3.3% during the second quarter. Municipal Employees Retirement System of Michigan now owns 10,330 shares of the textile maker’s stock valued at $258,000 after purchasing an additional 330 shares during the period. Great West Life Assurance Co. Can lifted its position in G-III Apparel Group by 3.4% during the second quarter. Great West Life Assurance Co. Can now owns 62,302 shares of the textile maker’s stock valued at $1,553,000 after purchasing an additional 2,050 shares during the period. Arizona State Retirement System lifted its position in G-III Apparel Group by 0.4% during the second quarter. Arizona State Retirement System now owns 22,875 shares of the textile maker’s stock valued at $571,000 after purchasing an additional 100 shares during the period. Finally, First Trust Advisors LP increased its holdings in G-III Apparel Group by 3.7% during the second quarter. First Trust Advisors LP now owns 91,507 shares of the textile maker’s stock valued at $2,283,000 after buying an additional 3,264 shares during the last quarter.

G-III Apparel Group, Ltd. (NASDAQ GIII) opened at $40.50 on Friday. G-III Apparel Group, Ltd. has a 52 week low of $18.00 and a 52 week high of $40.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.91 and a current ratio of 3.52. The firm has a market cap of $1,910.00, a price-to-earnings ratio of 48.21, a P/E/G ratio of 1.74 and a beta of 0.28.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Tuesday, December 5th. The textile maker reported $1.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.13. G-III Apparel Group had a net margin of 1.58% and a return on equity of 5.65%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business earned $1.50 earnings per share. G-III Apparel Group’s quarterly revenue was up 15.9% compared to the same quarter last year. equities analysts predict that G-III Apparel Group, Ltd. will post 1.5 EPS for the current fiscal year.

A number of analysts have commented on GIII shares. Zacks Investment Research raised shares of G-III Apparel Group from a “hold” rating to a “strong-buy” rating and set a $40.00 target price for the company in a report on Thursday, December 7th. BidaskClub raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Telsey Advisory Group increased their price objective on shares of G-III Apparel Group from $36.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 6th. Cowen set a $32.00 price objective on shares of G-III Apparel Group and gave the stock a “hold” rating in a research note on Thursday, November 30th. Finally, Piper Jaffray Companies set a $36.00 price objective on shares of G-III Apparel Group and gave the stock a “buy” rating in a research note on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $35.00.

In related news, Vice Chairman Sammy Aaron sold 51,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $33.62, for a total value of $1,714,620.00. Following the transaction, the insider now owns 556,152 shares of the company’s stock, valued at approximately $18,697,830.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bokhorst Willem Van sold 7,518 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $37.51, for a total transaction of $282,000.18. Following the completion of the transaction, the director now directly owns 48,667 shares in the company, valued at approximately $1,825,499.17. The disclosure for this sale can be found here. 9.70% of the stock is owned by company insiders.

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G-III Apparel Group Profile

G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage.

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

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