Illinois Municipal Retirement Fund Buys 63,903 Shares of The Gap, Inc. $GAP

Illinois Municipal Retirement Fund lifted its stake in shares of The Gap, Inc. (NYSE:GAP) by 14.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 511,056 shares of the company’s stock after buying an additional 63,903 shares during the quarter. Illinois Municipal Retirement Fund owned 0.15% of GAP worth $11,673,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of GAP. Jupiter Topco LLC purchased a new position in GAP in the 2nd quarter worth approximately $2,017,000. BlackRock Inc. acquired a new stake in GAP in the second quarter valued at approximately $428,824,000. Robinhood Asset Management LLC purchased a new stake in shares of GAP during the second quarter valued at approximately $6,312,000. Engineers Gate Manager LP purchased a new stake in shares of GAP during the second quarter valued at approximately $4,216,000. Finally, Bank of America Corp DE purchased a new stake in shares of GAP during the second quarter valued at approximately $30,345,000. 58.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on GAP shares. The Goldman Sachs Group boosted their target price on shares of GAP from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, August 31st. Weiss Ratings raised shares of GAP from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 29th. BTIG Research raised their price target on shares of GAP from $26.00 to $27.00 and gave the company a “buy” rating in a report on Friday, August 28th. TD Cowen lifted their price target on shares of GAP from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Finally, Wolfe Research started coverage on shares of GAP in a report on Wednesday, October 21st. They issued a “peer perform” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $27.07.

GAP Price Performance

Shares of NYSE GAP opened at $21.59 on Thursday. The Gap, Inc. has a fifty-two week low of $18.11 and a fifty-two week high of $29.36. The business has a 50 day moving average price of $22.28 and a two-hundred day moving average price of $22.96. The company has a quick ratio of 1.11, a current ratio of 1.82 and a debt-to-equity ratio of 0.38. The firm has a market cap of $7.58 billion, a PE ratio of 6.44, a price-to-earnings-growth ratio of 0.92 and a beta of 2.12.

GAP (NYSE:GAP) last posted its quarterly earnings data on Thursday, August 27th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. GAP had a return on equity of 19.72% and a net margin of 8.14%. The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the previous year, the business earned $0.57 EPS. GAP’s revenue for the quarter was down 2.0% compared to the same quarter last year. GAP has set its FY 2026 guidance at 2.350-2.450 EPS. Sell-side analysts expect that The Gap, Inc. will post 2.40 earnings per share for the current fiscal year.

GAP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 27th. Stockholders of record on Wednesday, January 6th will be given a dividend of $0.1750 per share. The ex-dividend date of this dividend is Wednesday, January 6th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.2%. GAP’s dividend payout ratio (DPR) is presently 20.90%.

Insider Buying and Selling

In related news, insider Julie Gruber sold 27,538 shares of GAP stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $23.56, for a total value of $648,795.28. Following the completion of the sale, the insider owned 30,876 shares in the company, valued at approximately $727,438.56. The trade was a 47.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William Fisher sold 500,000 shares of GAP stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $23.89, for a total transaction of $11,945,000.00. Following the completion of the sale, the director owned 15,903,198 shares of the company’s stock, valued at approximately $379,927,400.22. This trade represents a 3.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,027,538 shares of company stock valued at $24,249,556 in the last three months. Corporate insiders own 31.00% of the company’s stock.

GAP Company Profile

Gap Inc. is an American specialty retailer of apparel, accessories and related products. Its portfolio includes Gap, Old Navy, Banana Republic and Athleta, with merchandise sold through company-operated stores and online channels. Founded in San Francisco in 1969 by Donald and Doris Fisher, the company serves customers in North America and other markets through its stores, e-commerce operations and franchise partners. Richard Dickson became Gap Inc.’s president and chief executive officer in 2023.