Arizona State Retirement System decreased its position in shares of Gap, Inc. (The) (NYSE:GPS) by 1.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 73,243 shares of the apparel retailer’s stock after selling 1,000 shares during the period. Arizona State Retirement System’s holdings in Gap, Inc. (The) were worth $1,611,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Ameritas Investment Partners Inc. bought a new position in Gap, Inc. (The) during the first quarter worth $127,000. Penserra Capital Management LLC boosted its position 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 worth $145,000 after buying an additional 520 shares during the last quarter. James Investment Research Inc. bought a new position in Gap, Inc. (The) during the second quarter worth $144,000. Yorktown Management & Research Co Inc bought a new position in Gap, Inc. (The) during the first quarter worth $211,000. Finally, Pacer Advisors Inc. boosted its position in Gap, Inc. (The) by 67.8% in the first quarter. Pacer Advisors Inc. now owns 9,581 shares of the apparel retailer’s stock worth $233,000 after buying an additional 3,872 shares during the last quarter. 57.30% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Gap, Inc. (NYSE:GPS) opened at 23.31 on Friday. Gap, Inc. has a 52 week low of $21.02 and a 52 week high of $30.74. The stock has a 50 day moving average price of $23.16 and a 200-day moving average price of $23.69. The stock has a market cap of $9.14 billion, a P/E ratio of 11.11 and a beta of 0.87.
Gap, Inc. (The) (NYSE:GPS) last announced its quarterly earnings results on Thursday, August 17th. The apparel retailer reported $0.58 EPS for the quarter, beating the consensus estimate of $0.52 by $0.06. Gap, Inc. (The) had a net margin of 5.42% and a return on equity of 28.50%. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the business earned $0.60 earnings per share. Gap, Inc. (The)’s revenue was down 1.4% compared to the same quarter last year. Equities analysts predict that Gap, Inc. will post $2.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, October 3rd. This represents a $0.92 annualized dividend and a dividend yield of 3.95%. Gap, Inc. (The)’s payout ratio is currently 43.81%.
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Several analysts recently issued reports on the company. Royal Bank Of Canada reissued a “hold” rating and set a $26.00 target price on shares of Gap, Inc. (The) in a research note on Wednesday, August 9th. Robert W. Baird reissued a “neutral” rating and set a $26.00 target price on shares of Gap, Inc. (The) in a research note on Sunday, August 20th. Zacks Investment Research downgraded Gap, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Wednesday. BMO Capital Markets set a $23.00 target price on Gap, Inc. (The) and gave the company a “hold” rating in a research note on Tuesday, August 8th. Finally, Oppenheimer Holdings, Inc. set a $28.00 target price on Gap, Inc. (The) and gave the company a “buy” rating in a research note on Thursday, August 17th. Four equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and six have assigned a buy rating to the stock. Gap, Inc. (The) presently has an average rating of “Hold” and a consensus target price of $25.63.
In other Gap, Inc. (The) news, EVP Paul Joseph Chapman sold 4,898 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $22.82, for a total value of $111,772.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 7,898 shares of company stock worth $180,332 in the last 90 days. 27.30% of the stock is owned by company 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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