Envestnet Asset Management Inc. Lowers Position in Gap Inc (NYSE:GPS)



Envestnet Asset Management Inc. trimmed its stake in shares of Gap Inc (NYSE:GPS) by 25.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,788 shares of the apparel retailer’s stock after selling 38,892 shares during the quarter. Envestnet Asset Management Inc.’s holdings in GAP were worth $2,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Bremer Bank National Association bought a new position in GAP during the 1st quarter worth approximately $29,000. Atlas Capital Advisors LLC acquired a new position in shares of GAP in the 2nd quarter valued at about $52,000. Parallel Advisors LLC boosted its position in shares of GAP by 103.5% during the 1st quarter. Parallel Advisors LLC now owns 3,623 shares of the apparel retailer’s stock valued at $95,000 after purchasing an additional 1,843 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in GAP during the first quarter worth approximately $137,000. Finally, FNY Investment Advisers LLC acquired a new position in GAP in the second quarter valued at approximately $158,000. 59.93% of the stock is currently owned by institutional investors.

In other GAP news, CEO Mcneil S. Fiske, Jr. sold 16,183 shares of GAP stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $18.00, for a total transaction of $291,294.00. Following the completion of the transaction, the chief executive officer now owns 32,500 shares of the company’s stock, valued at approximately $585,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 37.60% of the stock is owned by company insiders.

Several analysts have recently commented on the stock. B. Riley set a $21.00 price objective on shares of GAP and gave the stock a “hold” rating in a research report on Friday, August 23rd. Jefferies Financial Group set a $37.00 price target on shares of GAP and gave the company a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley decreased their price target on shares of GAP from $16.00 to $15.00 and set an “underweight” rating for the company in a research note on Friday, August 23rd. JPMorgan Chase & Co. dropped their price objective on shares of GAP from $24.00 to $17.00 and set an “underweight” rating on the stock in a research note on Friday, May 31st. Finally, Royal Bank of Canada set a $22.00 target price on shares of GAP and gave the stock a “hold” rating in a research report on Friday, May 31st. Six analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. GAP has a consensus rating of “Hold” and an average target price of $23.83.

Shares of GAP stock traded up $0.74 during trading hours on Monday, hitting $17.60. 106,152 shares of the company’s stock traded hands, compared to its average volume of 8,777,647. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.46 and a quick ratio of 0.72. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 6.78, a PEG ratio of 0.91 and a beta of 0.71. The company has a fifty day simple moving average of $17.43 and a 200-day simple moving average of $21.50. Gap Inc has a 12-month low of $15.11 and a 12-month high of $31.39.

GAP (NYSE:GPS) last released its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.11. The company had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.02 billion. GAP had a net margin of 5.71% and a return on equity of 24.53%. GAP’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.76 EPS. On average, analysts forecast that Gap Inc will post 2.06 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Wednesday, October 9th will be paid a dividend of $0.243 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 5.52%. This is a positive change from GAP’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, October 8th. GAP’s payout ratio is presently 37.45%.

GAP 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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Institutional Ownership by Quarter for GAP (NYSE:GPS)

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