Pinebridge Investments L.P. Sells 38,370 Shares of Gap Inc (NYSE:GPS)

Pinebridge Investments L.P. trimmed its position in shares of Gap Inc (NYSE:GPS) by 94.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,073 shares of the apparel retailer’s stock after selling 38,370 shares during the quarter. Pinebridge Investments L.P.’s holdings in GAP were worth $37,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Bank of Nova Scotia boosted its position in GAP by 42.7% during the 2nd quarter. Bank of Nova Scotia now owns 49,605 shares of the apparel retailer’s stock valued at $891,000 after acquiring an additional 14,840 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of GAP by 31.0% in the 2nd quarter. Captrust Financial Advisors now owns 80,208 shares of the apparel retailer’s stock worth $1,441,000 after purchasing an additional 18,983 shares in the last quarter. Haverford Trust Co. boosted its position in shares of GAP by 3.7% in the 2nd quarter. Haverford Trust Co. now owns 1,473,479 shares of the apparel retailer’s stock worth $26,478,000 after purchasing an additional 52,709 shares in the last quarter. Haverford Financial Services Inc. boosted its position in shares of GAP by 8.9% in the 2nd quarter. Haverford Financial Services Inc. now owns 20,595 shares of the apparel retailer’s stock worth $370,000 after purchasing an additional 1,676 shares in the last quarter. Finally, Natixis bought a new stake in shares of GAP in the 2nd quarter worth approximately $5,036,000. 59.90% of the stock is currently owned by institutional investors and hedge funds.

GAP stock traded up $0.24 during mid-day trading on Monday, hitting $17.43. The stock had a trading volume of 123,030 shares, compared to its average volume of 7,917,452. The firm has a market capitalization of $6.46 billion, a P/E ratio of 6.69, a P/E/G ratio of 0.94 and a beta of 0.71. The company has a current ratio of 1.46, a quick ratio of 0.72 and a debt-to-equity ratio of 1.90. The firm’s 50 day moving average is $17.18 and its 200 day moving average is $21.01. Gap Inc has a one year low of $15.11 and a one year high of $31.39.



GAP (NYSE:GPS) last released its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $0.63 EPS for the quarter, beating the consensus estimate of $0.52 by $0.11. GAP had a net margin of 5.71% and a return on equity of 24.53%. The business had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the prior year, the firm earned $0.76 EPS. The business’s revenue was down 2.0% on a year-over-year basis. As a group, equities research analysts forecast that Gap Inc will post 2.06 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Wednesday, October 9th will be paid a dividend of $0.243 per share. The ex-dividend date is Tuesday, October 8th. This is an increase from GAP’s previous quarterly dividend of $0.24. This represents a $0.97 dividend on an annualized basis and a dividend yield of 5.58%. GAP’s dividend payout ratio (DPR) is currently 37.45%.

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group set a $37.00 price objective on shares of GAP and gave the stock a “buy” rating in a report on Friday, September 13th. Morgan Stanley set a $15.00 price objective on shares of GAP and gave the stock a “sell” rating in a report on Friday, September 13th. Nomura decreased their price objective on shares of GAP from $22.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Royal Bank of Canada set a $22.00 price objective on shares of GAP and gave the stock a “hold” rating in a report on Friday, May 31st. Finally, Argus restated a “hold” rating on shares of GAP in a report on Tuesday, June 4th. Six equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $23.83.

About GAP

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.

Further Reading: What is diluted earnings per share (Diluted EPS)?

Institutional Ownership by Quarter for GAP (NYSE:GPS)

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