Penserra Capital Management LLC Invests $121,000 in Gap Inc (NYSE:GPS)

Penserra Capital Management LLC purchased a new stake in Gap Inc (NYSE:GPS) in the 3rd quarter, Holdings Channel reports. The fund purchased 7,014 shares of the apparel retailer’s stock, valued at approximately $121,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Keybank National Association OH grew its stake in shares of GAP by 4.3% during the 2nd quarter. Keybank National Association OH now owns 14,162 shares of the apparel retailer’s stock worth $254,000 after purchasing an additional 584 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in GAP by 1.4% during the third quarter. Crossmark Global Holdings Inc. now owns 48,668 shares of the apparel retailer’s stock worth $845,000 after buying an additional 670 shares in the last quarter. World Asset Management Inc boosted its holdings in GAP by 3.9% during the second quarter. World Asset Management Inc now owns 20,043 shares of the apparel retailer’s stock worth $360,000 after buying an additional 745 shares in the last quarter. State of Michigan Retirement System grew its position in GAP by 1.8% during the third quarter. State of Michigan Retirement System now owns 51,546 shares of the apparel retailer’s stock worth $895,000 after buying an additional 900 shares during the period. Finally, Dynamic Capital Management Ltd grew its position in GAP by 8.6% during the third quarter. Dynamic Capital Management Ltd now owns 11,408 shares of the apparel retailer’s stock worth $198,000 after buying an additional 900 shares during the period. 60.26% of the stock is owned by institutional investors and hedge funds.

Shares of GPS opened at $16.19 on Tuesday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.43 and a quick ratio of 0.58. The firm has a 50 day simple moving average of $17.10 and a 200-day simple moving average of $17.88. Gap Inc has a 1-year low of $15.11 and a 1-year high of $31.39. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 7.83, a price-to-earnings-growth ratio of 1.06 and a beta of 0.71.

GAP (NYSE:GPS) last posted its earnings results on Thursday, November 21st. The apparel retailer reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. GAP had a return on equity of 22.33% and a net margin of 4.97%. GAP’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. On average, equities analysts expect that Gap Inc will post 1.73 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be issued a $0.2425 dividend. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 5.99%. GAP’s dividend payout ratio (DPR) is 37.45%.

A number of research firms have recently issued reports on GPS. Royal Bank of Canada reduced their price target on shares of GAP from $19.00 to $16.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Guggenheim restated a “hold” rating on shares of GAP in a report on Thursday, September 12th. ValuEngine upgraded GAP from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Deutsche Bank dropped their price objective on GAP from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Friday, November 8th. Finally, Barclays began coverage on GAP in a report on Tuesday, November 12th. They set an “underweight” rating and a $14.00 price objective for the company. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $18.87.

GAP 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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Institutional Ownership by Quarter for GAP (NYSE:GPS)

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