Wealthfront Advisers LLC decreased its holdings in shares of Gap Inc (NYSE:GPS) by 53.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,535 shares of the apparel retailer’s stock after selling 17,778 shares during the quarter. Wealthfront Advisers LLC’s holdings in GAP were worth $407,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in GPS. Bremer Trust National Association acquired a new stake in shares of GAP during the fourth quarter worth $29,000. Bremer Bank National Association acquired a new stake in shares of GAP during the first quarter worth $29,000. Parallel Advisors LLC lifted its holdings in shares of GAP by 387.7% during the fourth quarter. Parallel Advisors LLC now owns 1,780 shares of the apparel retailer’s stock worth $45,000 after buying an additional 1,415 shares in the last quarter. NuWave Investment Management LLC lifted its holdings in shares of GAP by 11,075.0% during the first quarter. NuWave Investment Management LLC now owns 2,235 shares of the apparel retailer’s stock worth $58,000 after buying an additional 2,215 shares in the last quarter. Finally, FTB Advisors Inc. lifted its holdings in shares of GAP by 258.2% during the fourth quarter. FTB Advisors Inc. now owns 2,672 shares of the apparel retailer’s stock worth $68,000 after buying an additional 1,926 shares in the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Julie Gruber sold 3,286 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $24.00, for a total value of $78,864.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 37.60% of the stock is currently owned by company insiders.
GAP (NYSE:GPS) last issued its quarterly earnings results on Thursday, May 30th. The apparel retailer reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.07). GAP had a return on equity of 26.73% and a net margin of 6.46%. The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the business posted $0.42 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities analysts anticipate that Gap Inc will post 2.07 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be given a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date of this dividend is Tuesday, July 9th. GAP’s payout ratio is currently 37.45%.
A number of equities research analysts have recently weighed in on GPS shares. Standpoint Research downgraded GAP from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Guggenheim reissued a “hold” rating on shares of GAP in a report on Friday, March 1st. Zacks Investment Research raised GAP from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Deutsche Bank lifted their target price on GAP from $30.00 to $34.00 and gave the stock a “hold” rating in a report on Friday, March 1st. Finally, B. Riley dropped their target price on GAP from $30.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Five 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 currently has an average rating of “Hold” and an average target price of $25.77.
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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