State of Wisconsin Investment Board raised its holdings in shares of Gap Inc (NYSE:GPS) by 139.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 224,744 shares of the apparel retailer’s stock after purchasing an additional 130,849 shares during the quarter. State of Wisconsin Investment Board owned 0.06% of GAP worth $7,279,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Nikko Asset Management Americas Inc. bought a new stake in shares of GAP during the second quarter worth $634,000. Pendal Group Ltd lifted its position in shares of GAP by 52.9% during the second quarter. Pendal Group Ltd now owns 18,629 shares of the apparel retailer’s stock worth $603,000 after purchasing an additional 6,447 shares during the last quarter. Suntrust Banks Inc. lifted its position in shares of GAP by 83.3% during the first quarter. Suntrust Banks Inc. now owns 37,506 shares of the apparel retailer’s stock worth $1,169,000 after purchasing an additional 17,043 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of GAP by 25.8% during the first quarter. JPMorgan Chase & Co. now owns 12,542,927 shares of the apparel retailer’s stock worth $391,339,000 after purchasing an additional 2,575,906 shares during the last quarter. Finally, FIL Ltd lifted its position in shares of GAP by 227.7% during the first quarter. FIL Ltd now owns 58,139 shares of the apparel retailer’s stock worth $1,814,000 after purchasing an additional 40,399 shares during the last quarter. Institutional investors and hedge funds own 58.25% of the company’s stock.
In other GAP news, Director William Sydney Fisher sold 1,000,000 shares of GAP stock in a transaction dated Tuesday, June 19th. The stock was sold at an average price of $32.37, for a total value of $32,370,000.00. Following the transaction, the director now owns 10,760,396 shares in the company, valued at $348,314,018.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 30.60% of the stock is owned by insiders.
GPS opened at $32.31 on Wednesday. Gap Inc has a 1 year low of $22.51 and a 1 year high of $35.68. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.05 and a current ratio of 2.03. The stock has a market capitalization of $12.12 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 1.34 and a beta of 0.71.
GAP (NYSE:GPS) last posted its earnings results on Thursday, May 24th. The apparel retailer reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.04). GAP had a net margin of 5.36% and a return on equity of 28.04%. The company had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter last year, the firm earned $0.36 EPS. GAP’s revenue for the quarter was up 10.0% on a year-over-year basis. sell-side analysts predict that Gap Inc will post 2.58 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders 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 annualized dividend and a yield of 3.00%. GAP’s dividend payout ratio (DPR) is presently 45.54%.
Several analysts have recently weighed in on the company. Barclays set a $39.00 target price on GAP and gave the stock a “buy” rating in a research report on Sunday, May 27th. MKM Partners cut their price target on GAP to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 29th. Credit Suisse Group cut their price target on GAP from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, May 25th. ValuEngine upgraded GAP from a “hold” rating to a “buy” rating in a research note on Thursday, May 24th. Finally, Deutsche Bank cut their price target on GAP from $34.00 to $33.00 and set a “hold” rating on the stock in a research note on Friday, May 25th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $33.61.
GAP Company Profile
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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