Sanders Morris Harris LLC purchased a new stake in Gap Inc (NYSE:GPS) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 10,650 shares of the apparel retailer’s stock, valued at approximately $279,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GPS. Oregon Public Employees Retirement Fund increased its holdings in GAP by 2,043.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,488,883 shares of the apparel retailer’s stock valued at $135,000 after purchasing an additional 3,326,106 shares in the last quarter. Norges Bank acquired a new stake in shares of GAP during the fourth quarter valued at about $82,347,000. Unigestion Holding SA grew its stake in shares of GAP by 10,276.7% during the fourth quarter. Unigestion Holding SA now owns 1,930,061 shares of the apparel retailer’s stock valued at $49,719,000 after acquiring an additional 1,911,461 shares in the last quarter. Vanguard Group Inc grew its stake in shares of GAP by 5.4% during the third quarter. Vanguard Group Inc now owns 27,822,458 shares of the apparel retailer’s stock valued at $802,678,000 after acquiring an additional 1,433,737 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of GAP by 5.4% during the third quarter. Vanguard Group Inc. now owns 27,822,458 shares of the apparel retailer’s stock valued at $802,678,000 after acquiring an additional 1,433,737 shares in the last quarter. Hedge funds and other institutional investors own 57.86% of the company’s stock.
Shares of GPS stock traded down $0.62 during trading hours on Friday, hitting $24.36. 4,157,798 shares of the company were exchanged, compared to its average volume of 3,778,041. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.96. Gap Inc has a one year low of $24.06 and a one year high of $34.21. The stock has a market capitalization of $9.46 billion, a price-to-earnings ratio of 9.41, a PEG ratio of 1.12 and a beta of 0.53.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were issued a $0.2425 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $0.97 dividend on an annualized basis and a yield of 3.98%. GAP’s dividend payout ratio is currently 37.45%.
In other GAP news, CEO Sonia Syngal sold 11,764 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $26.51, for a total value of $311,863.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 37.60% of the company’s stock.
GPS has been the subject of several recent analyst reports. Standpoint Research upgraded GAP from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Zacks Investment Research upgraded GAP from a “sell” rating to a “hold” rating in a research note on Tuesday. Guggenheim restated a “hold” rating on shares of GAP in a research note on Sunday, April 21st. Deutsche Bank raised their target price on GAP from $30.00 to $34.00 and gave the company a “hold” rating in a research note on Friday, March 1st. Finally, Credit Suisse Group lowered their target price on GAP from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday, February 26th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $29.33.
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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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