Nisa Investment Advisors LLC decreased its stake in Gap, Inc. (The) (NYSE:GPS) by 15.6% during the second quarter, Holdings Channel reports. The institutional investor owned 189,672 shares of the apparel retailer’s stock after selling 34,931 shares during the period. Nisa Investment Advisors LLC’s holdings in Gap, Inc. (The) were worth $4,193,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new stake in Gap, Inc. (The) during the first quarter valued at about $127,000. James Investment Research Inc. acquired a new stake in Gap, Inc. (The) during the second quarter valued at about $144,000. Penserra Capital Management LLC increased its stake in Gap, Inc. (The) by 9.5% in the first quarter. Penserra Capital Management LLC now owns 5,980 shares of the apparel retailer’s stock valued at $145,000 after buying an additional 520 shares in the last quarter. Yorktown Management & Research Co Inc acquired a new stake in Gap, Inc. (The) during the first quarter valued at about $211,000. Finally, Foster & Motley Inc. acquired a new stake in Gap, Inc. (The) during the first quarter valued at about $217,000. Institutional investors own 56.81% of the company’s stock.
Shares of Gap, Inc. (NYSE:GPS) opened at 23.17 on Tuesday. The firm has a market capitalization of $9.17 billion, a PE ratio of 13.39 and a beta of 0.86. The company has a 50-day moving average of $22.62 and a 200 day moving average of $23.72. Gap, Inc. has a 12-month low of $21.02 and a 12-month high of $30.74. Gap, Inc. (The) also was the target of unusually large options trading activity on Monday. Investors purchased 619 put options on the stock. This represents an increase of approximately 443% compared to the typical daily volume of 114 put options.
Gap, Inc. (The) (NYSE:GPS) last announced its quarterly earnings data on Thursday, May 18th. The apparel retailer reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. The business had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.39 billion. Gap, Inc. (The) had a net margin of 4.46% and a return on equity of 29.75%. Gap, Inc. (The)’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the company posted $0.32 earnings per share. On average, analysts predict that Gap, Inc. will post $2.00 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Wednesday, July 5th will be paid a $0.23 dividend. The ex-dividend date is Friday, June 30th. This represents a $0.92 annualized dividend and a dividend yield of 3.97%. Gap, Inc. (The)’s payout ratio is 53.18%.
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GPS has been the subject of several research reports. TheStreet upgraded shares of Gap, Inc. (The) from a “c” rating to a “b-” rating in a research note on Thursday, April 20th. Jefferies Group LLC set a $34.00 price objective on shares of Gap, Inc. (The) and gave the stock a “buy” rating in a research note on Thursday, May 4th. ValuEngine downgraded shares of Gap, Inc. (The) from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. BMO Capital Markets set a $28.00 target price on shares of Gap, Inc. (The) and gave the company a “hold” rating in a research note on Thursday, May 18th. Finally, FBR & Co set a $28.00 target price on shares of Gap, Inc. (The) and gave the company a “hold” rating in a research note on Friday, May 19th. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $25.78.
In other news, CEO Jeff Kirwan sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $24.88, for a total value of $124,400.00. Following the sale, the chief executive officer now owns 29,548 shares in the company, valued at $735,154.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 7,000 shares of company stock worth $169,120. 27.30% of the stock is currently owned by corporate insiders.
About Gap, Inc. (The)
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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