Natixis acquired a new position in shares of Gap Inc (NYSE:GPS) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 280,241 shares of the apparel retailer’s stock, valued at approximately $5,036,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Cerebellum GP LLC raised its stake in GAP by 29.9% during the 1st quarter. Cerebellum GP LLC now owns 13,035 shares of the apparel retailer’s stock worth $341,000 after acquiring an additional 3,003 shares in the last quarter. Stephens Inc. AR increased its position in GAP by 65.0% during the second quarter. Stephens Inc. AR now owns 64,942 shares of the apparel retailer’s stock worth $1,167,000 after purchasing an additional 25,581 shares during the last quarter. First Trust Advisors LP increased its position in GAP by 37.4% during the second quarter. First Trust Advisors LP now owns 1,165,242 shares of the apparel retailer’s stock worth $20,939,000 after purchasing an additional 317,473 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of GAP by 16.9% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 79,708 shares of the apparel retailer’s stock worth $1,432,000 after acquiring an additional 11,500 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of GAP by 14.6% in the second quarter. Bank of Montreal Can now owns 1,475,280 shares of the apparel retailer’s stock worth $26,510,000 after acquiring an additional 187,536 shares in the last quarter. 59.93% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on GPS. TheStreet lowered shares of GAP from a “b-” rating to a “c+” rating in a research report on Thursday, June 13th. Nomura dropped their price objective on shares of GAP from $22.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Argus restated a “hold” rating on shares of GAP in a research note on Tuesday, June 4th. B. Riley set a $21.00 target price on shares of GAP and gave the company a “hold” rating in a research note on Friday, August 23rd. Finally, Credit Suisse Group decreased their target price on shares of GAP from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, August 23rd. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. GAP has an average rating of “Hold” and a consensus target price of $23.58.
GAP stock traded up $0.20 during trading hours on Friday, hitting $19.38. 3,110,737 shares of the company traded hands, compared to its average volume of 9,054,166. The firm has a market cap of $6.91 billion, a P/E ratio of 7.48, a P/E/G 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 firm’s 50-day simple moving average is $17.33 and its two-hundred day simple moving average is $21.32. Gap Inc has a 1-year low of $15.11 and a 1-year high of $31.39.
GAP (NYSE:GPS) last released its earnings results on Thursday, August 22nd. The apparel retailer reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.11. The firm had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $4.02 billion. GAP had a net margin of 5.71% and a return on equity of 24.53%. GAP’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.76 EPS. On average, equities research analysts predict that Gap Inc will post 2.06 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Wednesday, October 9th will be paid a dividend of $0.243 per share. This is a boost from GAP’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $0.97 annualized dividend and a yield of 5.02%. GAP’s dividend payout ratio (DPR) is presently 37.45%.
In other GAP news, CEO Mcneil S. Fiske, Jr. sold 16,183 shares of the firm’s stock in a transaction dated 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 owns 32,500 shares of the company’s stock, valued at approximately $585,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 37.60% of the stock is currently owned by company insiders.
GAP Company Profile
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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