California Public Employees Retirement System raised its position in shares of Gap Inc (NYSE:GPS) by 82.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,623,668 shares of the apparel retailer’s stock after buying an additional 734,097 shares during the period. California Public Employees Retirement System’s holdings in GAP were worth $42,508,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GPS. Bremer Trust National Association acquired a new stake in shares of GAP during the fourth quarter worth approximately $29,000. Parallel Advisors LLC increased its holdings in shares of GAP by 387.7% in the fourth quarter. Parallel Advisors LLC now owns 1,780 shares of the apparel retailer’s stock valued at $45,000 after purchasing an additional 1,415 shares in the last quarter. NuWave Investment Management LLC increased its holdings in shares of GAP by 11,075.0% in the first quarter. NuWave Investment Management LLC now owns 2,235 shares of the apparel retailer’s stock valued at $58,000 after purchasing an additional 2,215 shares in the last quarter. FTB Advisors Inc. increased its holdings in shares of GAP by 258.2% in the fourth quarter. FTB Advisors Inc. now owns 2,672 shares of the apparel retailer’s stock valued at $68,000 after purchasing an additional 1,926 shares in the last quarter. Finally, Legacy Advisors LLC acquired a new stake in shares of GAP in the first quarter valued at approximately $88,000. 57.79% of the stock is owned by institutional investors.
A number of analysts recently weighed in on GPS shares. Goldman Sachs Group lowered shares of GAP from a “neutral” rating to a “sell” rating and lowered their price target for the company from $27.00 to $23.00 in a report on Tuesday, January 22nd. Standpoint Research lowered shares of GAP from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Guggenheim reissued a “hold” rating on shares of GAP in a report on Friday, March 1st. Zacks Investment Research raised shares of GAP from a “sell” rating to a “hold” rating in a report on Monday. Finally, Deutsche Bank raised their price target on shares of GAP from $30.00 to $34.00 and gave the company a “hold” rating in a report on Friday, March 1st. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $29.33.
GPS opened at $22.84 on Wednesday. The firm has a market capitalization of $8.61 billion, a P/E ratio of 8.82, a P/E/G ratio of 1.02 and a beta of 0.53. Gap Inc has a 12 month low of $21.75 and a 12 month high of $34.21. The company has a current ratio of 1.96, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35.
GAP (NYSE:GPS) last posted its quarterly earnings data on Thursday, February 28th. The apparel retailer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.72 billion. GAP had a net margin of 6.05% and a return on equity of 29.65%. During the same period in the previous year, the firm posted $0.61 EPS. As a group, equities analysts forecast that Gap Inc will post 2.47 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were given a $0.2425 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $0.97 annualized dividend and a yield of 4.25%. GAP’s dividend payout ratio is currently 37.45%.
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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