United Services Automobile Association Increases Position in Gap Inc (NYSE:GPS)

United Services Automobile Association lifted its holdings in Gap Inc (NYSE:GPS) by 20.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 425,004 shares of the apparel retailer’s stock after purchasing an additional 73,285 shares during the quarter. United Services Automobile Association’s holdings in GAP were worth $7,637,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in GPS. BlackRock Inc. increased its stake in shares of GAP by 28.2% in the 1st quarter. BlackRock Inc. now owns 20,412,955 shares of the apparel retailer’s stock valued at $534,413,000 after purchasing an additional 4,491,047 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of GAP by 691.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,061,116 shares of the apparel retailer’s stock valued at $19,068,000 after purchasing an additional 927,119 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of GAP by 43.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,053,569 shares of the apparel retailer’s stock valued at $54,873,000 after purchasing an additional 923,316 shares in the last quarter. Invesco Ltd. increased its stake in shares of GAP by 14.0% in the 2nd quarter. Invesco Ltd. now owns 7,517,993 shares of the apparel retailer’s stock valued at $135,098,000 after purchasing an additional 922,167 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of GAP by 178.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 654,188 shares of the apparel retailer’s stock valued at $11,756,000 after purchasing an additional 418,832 shares in the last quarter. Hedge funds and other institutional investors own 59.90% of the company’s stock.

GPS stock traded down $0.09 during trading on Thursday, hitting $16.36. The stock had a trading volume of 4,354,183 shares, compared to its average volume of 7,041,214. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.46 and a quick ratio of 0.72. Gap Inc has a twelve month low of $15.11 and a twelve month high of $31.39. The stock has a market capitalization of $6.52 billion, a P/E ratio of 6.31, a PEG ratio of 0.94 and a beta of 0.70. The company’s 50-day moving average price is $17.03 and its two-hundred day moving average price is $20.45.

GAP (NYSE:GPS) last posted its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.11. GAP had a return on equity of 24.53% and a net margin of 5.71%. The company had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the firm posted $0.76 EPS. GAP’s revenue was down 2.0% compared to the same quarter last year. As a group, sell-side analysts expect that Gap Inc will post 2.06 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Wednesday, October 9th will be issued a $0.243 dividend. This represents a $0.97 annualized dividend and a yield of 5.94%. This is a boost from GAP’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, October 8th. GAP’s payout ratio is presently 37.45%.

Several brokerages recently weighed in on GPS. MKM Partners set a $18.00 price target on GAP and gave the company a “hold” rating in a research note on Friday, September 13th. Morgan Stanley set a $15.00 price target on GAP and gave the company a “sell” rating in a research note on Friday, September 13th. Telsey Advisory Group lifted their price target on GAP from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, September 13th. TheStreet lowered GAP from a “b-” rating to a “c+” rating in a research note on Thursday, June 13th. Finally, Bank of America set a $14.00 price target on GAP and gave the company a “sell” rating in a research note on Friday, August 23rd. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $23.39.

GAP 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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Institutional Ownership by Quarter for GAP (NYSE:GPS)

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