First Hawaiian Bank purchased a new stake in Gap Inc (NYSE:GPS) during the third quarter, HoldingsChannel reports. The firm purchased 10,085 shares of the apparel retailer’s stock, valued at approximately $291,000.
Several other hedge funds also recently bought and sold shares of GPS. CSat Investment Advisory L.P. acquired a new stake in GAP during the 2nd quarter worth $148,000. Squar Milner Financial Services LLC acquired a new stake in GAP during the 2nd quarter worth $196,000. Titus Wealth Management acquired a new stake in GAP during the 2nd quarter worth $201,000. LFA Lugano Financial Advisors SA acquired a new stake in GAP during the 2nd quarter worth $202,000. Finally, Tirschwell & Loewy Inc. acquired a new stake in GAP during the 2nd quarter worth $207,000. 58.10% of the stock is currently owned by institutional investors.
GPS has been the topic of several research analyst reports. Standpoint Research raised GAP from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Friday, October 19th. Barclays set a $39.00 price objective on GAP and gave the stock a “buy” rating in a research note on Saturday, August 25th. Zacks Investment Research raised GAP from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Tuesday, July 31st. Guggenheim reaffirmed a “hold” rating on shares of GAP in a research note on Friday, August 24th. Finally, Citigroup raised GAP from a “sell” rating to a “neutral” rating and set a $28.00 price objective on the stock in a research note on Monday, August 27th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and six have given a buy rating to the company. GAP presently has an average rating of “Hold” and an average target price of $32.92.
GAP (NYSE:GPS) last released its earnings results on Thursday, August 23rd. The apparel retailer reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.04. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. GAP had a return on equity of 29.25% and a net margin of 5.43%. The company’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 EPS. As a group, sell-side analysts forecast that Gap Inc will post 2.58 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 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 3.51%. The ex-dividend date is Tuesday, October 9th. GAP’s dividend payout ratio (DPR) is presently 45.54%.
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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