Alps Advisors Inc. increased its position in shares of Gap Inc (NYSE:GPS) by 10.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,219 shares of the apparel retailer’s stock after purchasing an additional 1,886 shares during the quarter. Alps Advisors Inc.’s holdings in GAP were worth $655,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in GAP by 0.8% in the first quarter. BlackRock Inc. now owns 17,263,705 shares of the apparel retailer’s stock valued at $538,626,000 after acquiring an additional 133,362 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in GAP by 25.8% in the first quarter. JPMorgan Chase & Co. now owns 12,542,927 shares of the apparel retailer’s stock valued at $391,339,000 after acquiring an additional 2,575,906 shares during the last quarter. Northern Trust Corp boosted its stake in GAP by 0.9% in the first quarter. Northern Trust Corp now owns 3,703,323 shares of the apparel retailer’s stock valued at $115,543,000 after acquiring an additional 32,088 shares during the last quarter. Bank of Montreal Can boosted its stake in GAP by 5.5% in the second quarter. Bank of Montreal Can now owns 3,075,518 shares of the apparel retailer’s stock valued at $99,617,000 after acquiring an additional 160,961 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in GAP by 56.3% in the first quarter. Wells Fargo & Company MN now owns 2,916,086 shares of the apparel retailer’s stock valued at $90,982,000 after acquiring an additional 1,050,417 shares during the last quarter. Institutional investors and hedge funds own 58.32% of the company’s stock.
A number of research analysts have weighed in on GPS shares. Wedbush started coverage on shares of GAP in a research note on Friday, August 10th. They issued a “neutral” rating and a $32.00 target price on the stock. Telsey Advisory Group upgraded shares of GAP from a “market perform” rating to an “outperform” rating and set a $39.00 target price on the stock in a research note on Tuesday, May 15th. Deutsche Bank dropped their target price on shares of GAP from $34.00 to $33.00 and set a “hold” rating on the stock in a research note on Friday, May 25th. Zacks Investment Research upgraded shares of GAP from a “sell” rating to a “hold” rating in a research note on Wednesday, July 25th. Finally, UBS Group started coverage on shares of GAP in a research note on Thursday, June 21st. They issued a “neutral” rating and a $33.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and seven have issued a buy rating to the stock. GAP presently has a consensus rating of “Hold” and a consensus price target of $32.72.
Shares of GPS stock opened at $31.28 on Friday. The company has a market cap of $12.14 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 1.35 and a beta of 0.71. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.05 and a current ratio of 2.03. Gap Inc has a 12 month low of $21.84 and a 12 month high of $35.68.
GAP (NYSE:GPS) last announced its quarterly earnings results on Thursday, May 24th. The apparel retailer reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.04). The business had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.60 billion. GAP had a net margin of 5.36% and a return on equity of 28.04%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. research analysts forecast that Gap Inc will post 2.59 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Wednesday, October 10th will be paid a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.10%. GAP’s payout ratio is currently 45.54%.
In related news, Director William Sydney Fisher sold 1,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 19th. The shares were sold at an average price of $32.37, for a total transaction of $32,370,000.00. Following the sale, the director now directly owns 10,760,396 shares in the company, valued at approximately $348,314,018.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 30.60% of the company’s stock.
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, and Intermix 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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