Prudential Financial Inc. lessened its stake in shares of Gap Inc (NYSE:GPS) by 17.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 275,811 shares of the apparel retailer’s stock after selling 59,619 shares during the quarter. Prudential Financial Inc. owned 0.07% of GAP worth $4,957,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Bremer Bank National Association acquired a new position in shares of GAP in the first quarter worth $29,000. Atlas Capital Advisors LLC acquired a new stake in shares of GAP during the second quarter worth approximately $52,000. Rational Advisors LLC increased its holdings in shares of GAP by 41,760.0% during the first quarter. Rational Advisors LLC now owns 8,372 shares of the apparel retailer’s stock worth $219,000 after buying an additional 8,352 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of GAP during the second quarter worth approximately $158,000. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of GAP during the first quarter worth approximately $246,000. Institutional investors own 59.93% of the company’s stock.
A number of analysts recently weighed in on the stock. MKM Partners set a $18.00 price target on shares of GAP and gave the company a “hold” rating in a report on Monday, August 26th. Telsey Advisory Group raised their price target on shares of GAP from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Friday. Bank of America set a $14.00 price target on shares of GAP and gave the company a “sell” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. lowered their price target on shares of GAP from $24.00 to $17.00 and set an “underweight” rating for the company in a report on Friday, May 31st. Finally, Nomura lowered their price target on shares of GAP from $22.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Six analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. GAP currently has a consensus rating of “Hold” and an average price target of $23.58.
In other news, CEO Mcneil S. Fiske, Jr. sold 16,183 shares of GAP stock in a transaction on Friday, June 21st. The shares were sold at an average price of $18.00, for a total transaction of $291,294.00. Following the transaction, the chief executive officer now directly owns 32,500 shares of the company’s stock, valued at $585,000. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 37.60% of the company’s stock.
GPS stock traded up $0.34 during midday trading on Friday, reaching $19.52. The company’s stock had a trading volume of 120,281 shares, compared to its average volume of 9,054,166. Gap Inc has a 52 week low of $15.11 and a 52 week high of $31.39. The stock has a market cap of $6.91 billion, a PE ratio of 7.53, a price-to-earnings-growth ratio of 0.99 and a beta of 0.71. The company has a quick ratio of 0.72, a current ratio of 1.46 and a debt-to-equity ratio of 1.90. The business’s 50-day simple moving average is $17.33 and its 200-day simple moving average is $21.32.
GAP (NYSE:GPS) last announced its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.11. GAP had a net margin of 5.71% and a return on equity of 24.53%. The firm had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period last year, the firm earned $0.76 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities analysts forecast that Gap Inc will post 2.06 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Wednesday, October 9th will be given a dividend of $0.243 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 4.98%. This is a boost from GAP’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, October 8th. GAP’s dividend payout ratio (DPR) is currently 37.45%.
The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, and Hill City brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.
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