Korea Investment CORP cut its position in Gap, Inc. (The) (NYSE:GPS) by 33.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 232,300 shares of the apparel retailer’s stock after selling 114,300 shares during the period. Korea Investment CORP’s holdings in Gap, Inc. (The) were worth $5,108,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new stake in shares of Gap, Inc. (The) during the first quarter worth about $127,000. James Investment Research Inc. acquired a new stake in shares of Gap, Inc. (The) during the second quarter worth about $144,000. Penserra Capital Management LLC boosted its stake in shares of 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 worth $145,000 after buying an additional 520 shares in the last quarter. Yorktown Management & Research Co Inc acquired a new stake in shares of Gap, Inc. (The) during the first quarter worth about $211,000. Finally, Foster & Motley Inc. acquired a new stake in shares of Gap, Inc. (The) during the first quarter worth about $217,000. Hedge funds and other institutional investors own 56.42% of the company’s stock.
Shares of Gap, Inc. (NYSE:GPS) opened at 23.15 on Friday. The stock’s 50 day moving average is $23.08 and its 200 day moving average is $23.72. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of 13.38 and a beta of 0.87. Gap, Inc. has a 12-month low of $21.02 and a 12-month high of $30.74.
Gap, Inc. (The) (NYSE:GPS) last released its quarterly earnings data on Thursday, May 18th. The apparel retailer reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.07. The business had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Gap, Inc. (The) had a net margin of 4.46% and a return on equity of 29.75%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. Equities analysts expect that Gap, Inc. will post $2.00 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Tuesday, October 3rd. Gap, Inc. (The)’s dividend payout ratio is 53.18%.
GPS has been the subject of a number of recent research reports. TheStreet upgraded shares of Gap, Inc. (The) from a “c” rating to a “b-” rating in a report 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 report on Thursday, May 4th. ValuEngine cut shares of Gap, Inc. (The) from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded shares of Gap, Inc. (The) from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Tuesday. Finally, Vetr upgraded shares of Gap, Inc. (The) from a “sell” rating to a “hold” rating and set a $24.84 price objective for the company in a report on Monday, May 15th. Four equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $25.78.
In related news, CEO Jeff Kirwan sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $24.88, for a total transaction of $124,400.00. Following the completion of the transaction, the chief executive officer now directly owns 29,548 shares in the company, valued at approximately $735,154.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 8,000 shares of company stock valued at $192,960. 27.30% of the stock is owned by corporate insiders.
Gap, Inc. (The) Company Profile
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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