CIBC World Markets Inc. cut its stake in Gap Inc (NYSE:GPS) by 15.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,709 shares of the apparel retailer’s stock after selling 1,612 shares during the period. CIBC World Markets Inc.’s holdings in GAP were worth $228,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bremer Trust National Association acquired a new stake in shares of GAP during the 4th quarter worth approximately $29,000. Bremer Bank National Association acquired a new stake in shares of GAP during the 1st quarter worth approximately $29,000. Parallel Advisors LLC grew its position in shares of GAP by 387.7% during the 4th quarter. Parallel Advisors LLC now owns 1,780 shares of the apparel retailer’s stock worth $45,000 after buying an additional 1,415 shares during the period. NuWave Investment Management LLC grew its position in shares of GAP by 11,075.0% during the 1st quarter. NuWave Investment Management LLC now owns 2,235 shares of the apparel retailer’s stock worth $58,000 after buying an additional 2,215 shares during the period. Finally, FTB Advisors Inc. grew its position in shares of GAP by 258.2% during the 4th quarter. FTB Advisors Inc. now owns 2,672 shares of the apparel retailer’s stock worth $68,000 after buying an additional 1,926 shares during the period. 57.82% of the stock is owned by institutional investors.
GPS has been the subject of several analyst reports. Guggenheim reiterated a “hold” rating on shares of GAP in a research report on Friday, March 1st. Wedbush lowered their price target on shares of GAP from $23.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Standpoint Research upgraded shares of GAP from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Credit Suisse Group lowered their price target on shares of GAP from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, February 26th. Finally, ValuEngine cut shares of GAP from a “sell” rating to a “strong sell” rating in a research report on Monday, May 13th. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $25.77.
In related news, EVP Julie Gruber sold 3,286 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $24.00, for a total transaction of $78,864.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 37.60% of the stock is currently owned by insiders.
Shares of NYSE GPS opened at $17.83 on Thursday. The company has a market cap of $6.91 billion, a P/E ratio of 7.59, a PEG ratio of 0.98 and a beta of 0.78. The company has a quick ratio of 0.70, a current ratio of 1.49 and a debt-to-equity ratio of 1.92. Gap Inc has a 52-week low of $17.12 and a 52-week high of $34.21.
GAP (NYSE:GPS) last issued its quarterly earnings data on Thursday, May 30th. The apparel retailer reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.07). The firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.78 billion. GAP had a net margin of 6.46% and a return on equity of 26.73%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS. As a group, equities research analysts predict that Gap Inc will post 2.07 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be issued a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date is Tuesday, July 9th. GAP’s dividend payout ratio is currently 37.45%.
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GAP Company Profile
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, Intermix, and Hill City 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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