Todd Asset Management LLC purchased a new position in shares of Gap Inc (NYSE:GPS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 474,603 shares of the apparel retailer’s stock, valued at approximately $15,372,000. Todd Asset Management LLC owned 0.12% of GAP at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. North Fourth Asset Management LP purchased a new stake in GAP during the 2nd quarter worth $3,887,000. Schwab Charles Investment Management Inc. boosted its position in GAP by 2.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,619,819 shares of the apparel retailer’s stock worth $52,466,000 after purchasing an additional 43,641 shares during the period. Balter Liquid Alternatives LLC acquired a new position in GAP in the 2nd quarter worth $848,000. CIBC World Markets Inc. lifted its holdings in GAP by 57.6% in the 2nd quarter. CIBC World Markets Inc. now owns 83,323 shares of the apparel retailer’s stock worth $2,699,000 after buying an additional 30,459 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in GAP by 112.3% in the 2nd quarter. SG Americas Securities LLC now owns 147,819 shares of the apparel retailer’s stock worth $4,788,000 after buying an additional 78,186 shares in the last quarter. 58.25% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on the stock. Wedbush assumed coverage on shares of GAP in a report on Friday, August 10th. They issued a “neutral” rating and a $32.00 price objective on the stock. Zacks Investment Research upgraded shares of GAP from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Tuesday, July 31st. UBS Group assumed coverage on shares of GAP in a report on Thursday, June 21st. They issued a “neutral” rating and a $33.00 price objective on the stock. MKM Partners cut their price objective on shares of GAP to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, May 29th. Finally, Barclays set a $39.00 price objective on shares of GAP and gave the stock a “buy” rating in a report on Sunday, May 27th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $33.61.
Shares of GAP stock traded up $0.17 during trading on Tuesday, reaching $32.34. The company had a trading volume of 23,180 shares, compared to its average volume of 3,612,260. The firm has a market cap of $12.12 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 1.34 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 fifty-two week low of $21.84 and a fifty-two week high of $35.68.
GAP (NYSE:GPS) last issued its earnings results on Thursday, May 24th. The apparel retailer reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). The company had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.60 billion. GAP had a net margin of 5.36% and a return on equity of 28.04%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 EPS. equities analysts predict that Gap Inc will post 2.59 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Wednesday, October 10th will be paid a $0.2425 dividend. The ex-dividend date is Tuesday, October 9th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.00%. GAP’s dividend payout ratio (DPR) is presently 45.54%.
In other news, Director William Sydney Fisher sold 1,000,000 shares of the company’s stock in a transaction dated Tuesday, June 19th. The shares were sold at an average price of $32.37, for a total value of $32,370,000.00. Following the sale, the director now owns 10,760,396 shares in the company, valued at approximately $348,314,018.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 30.60% of the company’s stock.
Gap, Inc operates as a global apparel retail company. It offers apparel, accessories, and personal care products for men, women and children. The company operates through segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Intermix. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody and GapFit collections.
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