BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 224,863 Shares of Gap Inc (GPS)

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BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in shares of Gap Inc (NYSE:GPS) by 69.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 97,997 shares of the apparel retailer’s stock after selling 224,863 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in GAP were worth $3,174,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Wells Fargo & Company MN raised its holdings in shares of 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 buying an additional 1,050,417 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of GAP by 213.9% in the first quarter. Daiwa Securities Group Inc. now owns 22,819 shares of the apparel retailer’s stock valued at $712,000 after buying an additional 15,550 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of GAP by 2.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 745,995 shares of the apparel retailer’s stock valued at $23,275,000 after buying an additional 20,343 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of GAP by 3.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 268,877 shares of the apparel retailer’s stock valued at $8,389,000 after buying an additional 8,945 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of GAP by 6.4% in the first quarter. Victory Capital Management Inc. now owns 222,905 shares of the apparel retailer’s stock valued at $6,955,000 after buying an additional 13,466 shares during the last quarter. Institutional investors and hedge funds own 57.67% of the company’s stock.

Shares of GPS opened at $28.94 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. Gap Inc has a twelve month low of $25.28 and a twelve month high of $35.68. The stock has a market cap of $11.64 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 1.30 and a beta of 0.62.

GAP (NYSE:GPS) last issued its earnings results on Thursday, August 23rd. The apparel retailer reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.04. GAP had a net margin of 5.43% and a return on equity of 29.25%. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the business posted $0.58 earnings per share. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. equities analysts anticipate that Gap Inc will post 2.59 EPS for the current 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 given a dividend of $0.2425 per share. The ex-dividend date is Tuesday, October 9th. This represents a $0.97 annualized dividend and a yield of 3.35%. GAP’s payout ratio is currently 45.54%.

In other GAP 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 transaction of $32,370,000.00. Following the transaction, the director now directly owns 10,760,396 shares in the company, valued at $348,314,018.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 27.30% of the company’s stock.

A number of equities research analysts have recently commented on GPS shares. Telsey Advisory Group raised shares of GAP from a “market perform” rating to an “outperform” rating and set a $39.00 target price for the company in a report on Tuesday, May 15th. ValuEngine raised shares of GAP from a “hold” rating to a “buy” rating in a report on Thursday, May 24th. SunTrust Banks cut their price target on shares of GAP to $29.00 and set a “hold” rating for the company in a report on Friday, May 25th. Deutsche Bank cut their price target on shares of GAP from $34.00 to $33.00 and set a “hold” rating for the company in a report on Friday, May 25th. Finally, Credit Suisse Group cut their price target on shares of GAP from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, May 25th. Twenty equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $33.74.

About GAP

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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Institutional Ownership by Quarter for GAP (NYSE:GPS)

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