PGGM Investments lowered its stake in shares of Gap, Inc. (The) (NYSE:GPS) by 13.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,344,324 shares of the apparel retailer’s stock after selling 203,138 shares during the period. PGGM Investments owned about 0.34% of Gap, Inc. (The) worth $29,562,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nationwide Fund Advisors boosted its position in shares of Gap, Inc. (The) by 90.6% in the first quarter. Nationwide Fund Advisors now owns 118,671 shares of the apparel retailer’s stock valued at $2,883,000 after buying an additional 56,424 shares during the last quarter. Pensionfund DSM Netherlands bought a new position in shares of Gap, Inc. (The) during the first quarter valued at about $2,813,000. DnB Asset Management AS boosted its position in shares of Gap, Inc. (The) by 39.3% in the first quarter. DnB Asset Management AS now owns 22,667 shares of the apparel retailer’s stock valued at $551,000 after buying an additional 6,400 shares during the last quarter. World Asset Management Inc boosted its position in shares of Gap, Inc. (The) by 9.4% in the first quarter. World Asset Management Inc now owns 26,770 shares of the apparel retailer’s stock valued at $650,000 after buying an additional 2,294 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its position in shares of Gap, Inc. (The) by 15.5% in the first quarter. OppenheimerFunds Inc. now owns 82,410 shares of the apparel retailer’s stock valued at $2,002,000 after buying an additional 11,080 shares during the last quarter. 56.42% of the stock is currently owned by institutional investors.
Gap, Inc. (NYSE:GPS) traded up 2.225% during trading on Tuesday, hitting $24.575. The stock had a trading volume of 3,822,268 shares. The firm has a market cap of $9.73 billion, a P/E ratio of 14.205 and a beta of 0.87. The company has a 50-day moving average of $22.87 and a 200 day moving average of $23.73. Gap, Inc. has a 52-week low of $21.02 and a 52-week high of $30.74. Gap, Inc. (The) also was the recipient of unusually large options trading on Monday. Stock investors purchased 619 put options on the stock. This is an increase of 443% compared to the average volume of 114 put options.
Gap, Inc. (The) (NYSE:GPS) last issued its earnings results on Thursday, May 18th. The apparel retailer reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.07. Gap, Inc. (The) had a return on equity of 29.75% and a net margin of 4.46%. The firm had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the previous year, the firm posted $0.32 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. On average, equities research analysts predict that Gap, Inc. will post $2.00 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Wednesday, July 5th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, June 30th. This represents a $0.92 annualized dividend and a dividend yield of 3.83%. Gap, Inc. (The)’s dividend payout ratio (DPR) is 53.18%.
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Several research analysts recently issued reports on GPS shares. Jefferies Group LLC set a $34.00 target price on Gap, Inc. (The) and gave the company a “buy” rating in a research report on Thursday, May 4th. Vetr cut Gap, Inc. (The) from a “buy” rating to a “hold” rating and set a $24.84 target price on the stock. in a research report on Thursday, April 20th. Morgan Stanley reaffirmed an “underperform” rating and set a $20.00 target price on shares of Gap, Inc. (The) in a research report on Monday, May 22nd. J P Morgan Chase & Co raised Gap, Inc. (The) from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $21.00 to $24.00 in a research report on Thursday, April 20th. Finally, CIBC raised Gap, Inc. (The) from a “market perform” rating to an “outperform” rating in a research report on Monday, June 5th. Four investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have issued a buy rating to the stock. Gap, Inc. (The) currently has a consensus rating of “Hold” and an average target price of $25.78.
In other news, CEO Jeff Kirwan sold 5,000 shares of Gap, Inc. (The) stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $24.88, for a total value of $124,400.00. Following the sale, the chief executive officer now directly owns 29,548 shares of the company’s stock, valued at $735,154.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 8,000 shares of company stock worth $192,960 over the last ninety days. Insiders own 27.30% of the company’s stock.
Gap, Inc. (The) Company Profile
The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.
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