LS Investment Advisors LLC boosted its stake in Gap Inc (NYSE:GPS) by 2.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,426 shares of the apparel retailer’s stock after purchasing an additional 474 shares during the quarter. LS Investment Advisors LLC’s holdings in GAP were worth $456,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its stake in GAP by 8.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 130,717 shares of the apparel retailer’s stock worth $3,367,000 after acquiring an additional 9,647 shares in the last quarter. Nordea Investment Management AB raised its stake in GAP by 9.4% during the third quarter. Nordea Investment Management AB now owns 63,016 shares of the apparel retailer’s stock worth $1,818,000 after acquiring an additional 5,437 shares in the last quarter. MHI Funds LLC acquired a new position in GAP during the fourth quarter worth about $1,814,000. Advisor Partners LLC acquired a new position in GAP during the first quarter worth about $214,000. Finally, CSat Investment Advisory L.P. raised its stake in GAP by 20.3% during the fourth quarter. CSat Investment Advisory L.P. now owns 6,068 shares of the apparel retailer’s stock worth $156,000 after acquiring an additional 1,022 shares in the last quarter. 57.99% of the stock is owned by institutional investors and hedge funds.
GPS stock opened at $25.73 on Thursday. Gap Inc has a fifty-two week low of $24.25 and a fifty-two week high of $34.21. The company has a quick ratio of 0.98, a current ratio of 1.96 and a debt-to-equity ratio of 0.35. The firm has a market cap of $9.87 billion, a PE ratio of 9.93, a PEG ratio of 1.17 and a beta of 0.53.
GAP (NYSE:GPS) last issued its earnings results on Thursday, February 28th. The apparel retailer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. GAP had a return on equity of 29.65% and a net margin of 6.05%. The business had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter last year, the company earned $0.61 EPS. On average, equities analysts forecast that Gap Inc will post 2.48 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were issued a dividend of $0.2425 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.77%. GAP’s dividend payout ratio is 37.45%.
In related news, CEO Sonia Syngal sold 11,764 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $26.51, for a total transaction of $311,863.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 37.60% of the company’s stock.
GPS has been the subject of several research analyst reports. Barclays downgraded GAP from an “overweight” rating to an “underweight” rating and set a $25.25 target price for the company. in a research note on Friday, January 11th. Goldman Sachs Group cut GAP from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $27.00 to $23.00 in a report on Tuesday, January 22nd. Zacks Investment Research cut GAP from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. ValuEngine cut GAP from a “sell” rating to a “strong sell” rating in a report on Thursday, February 7th. Finally, Credit Suisse Group reduced their price target on GAP from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, February 26th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $29.33.
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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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