NumerixS Investment Technologies Inc bought a new stake in shares of Gap Inc (NYSE:GPS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 51,444 shares of the apparel retailer’s stock, valued at approximately $924,000.
Other large investors have also made changes to their positions in the company. State Treasurer State of Michigan increased its holdings in shares of GAP by 0.7% in the first quarter. State Treasurer State of Michigan now owns 61,546 shares of the apparel retailer’s stock valued at $1,611,000 after purchasing an additional 400 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in GAP by 3.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 14,060 shares of the apparel retailer’s stock worth $368,000 after purchasing an additional 434 shares in the last quarter. Keybank National Association OH boosted its position in GAP by 4.3% during the second 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 in the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in GAP by 2.4% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 25,191 shares of the apparel retailer’s stock worth $660,000 after purchasing an additional 586 shares in the last quarter. Finally, World Asset Management Inc boosted its position 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 purchasing an additional 745 shares in the last quarter. 59.93% of the stock is currently owned by institutional investors.
In related news, CEO Mcneil S. Fiske, Jr. sold 16,183 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $18.00, for a total value of $291,294.00. Following the completion of the sale, the chief executive officer now owns 32,500 shares of the company’s stock, valued at $585,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 37.60% of the company’s stock.
GAP (NYSE:GPS) last released its earnings results on Thursday, August 22nd. The apparel retailer reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.11. The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.02 billion. GAP had a return on equity of 24.53% and a net margin of 5.71%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.76 earnings per share. On average, equities research analysts anticipate that Gap Inc will post 2.06 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Wednesday, October 9th will be given a $0.243 dividend. This represents a $0.97 annualized dividend and a dividend yield of 5.05%. The ex-dividend date is Tuesday, October 8th. This is an increase from GAP’s previous quarterly dividend of $0.24. GAP’s dividend payout ratio (DPR) is 37.45%.
A number of equities analysts have issued reports on GPS shares. Bank of America set a $14.00 price target on GAP and gave the stock a “sell” rating in a research report on Friday, August 23rd. Jefferies Financial Group set a $37.00 price target on GAP and gave the stock a “buy” rating in a research report on Friday, August 23rd. Telsey Advisory Group increased their price target on GAP from $22.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday. Wedbush reiterated a “neutral” rating on shares of GAP in a research report on Monday, August 19th. Finally, TheStreet downgraded GAP from a “b-” rating to a “c+” rating in a research report on Thursday, June 13th. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. GAP presently has an average rating of “Hold” and a consensus price target of $23.83.
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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