Cadence Capital Management LLC lessened its holdings in Gap Inc (NYSE:GPS) by 5.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,189 shares of the apparel retailer’s stock after selling 590 shares during the quarter. Cadence Capital Management LLC’s holdings in GAP were worth $267,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in GPS. Oregon Public Employees Retirement Fund grew its holdings in GAP by 2,043.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,488,883 shares of the apparel retailer’s stock worth $135,000 after purchasing an additional 3,326,106 shares during the period. Norges Bank purchased a new stake in GAP in the fourth quarter worth about $82,347,000. Unigestion Holding SA grew its holdings 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 buying an additional 1,911,461 shares during the last quarter. Vanguard Group Inc grew its holdings 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 buying an additional 1,433,737 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of GAP by 10.7% during the fourth quarter. Bank of New York Mellon Corp now owns 13,954,639 shares of the apparel retailer’s stock valued at $359,471,000 after buying an additional 1,352,026 shares during the last quarter. Institutional investors and hedge funds own 57.79% of the company’s stock.
A number of equities research analysts have recently commented on GPS shares. Goldman Sachs Group cut shares of GAP from a “neutral” rating to a “sell” rating and cut their price target for the company from $27.00 to $23.00 in a report on Tuesday, January 22nd. Standpoint Research cut shares of GAP from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Guggenheim reiterated a “hold” rating on shares of GAP in a report on Friday, March 1st. Zacks Investment Research upgraded shares of GAP from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Finally, Deutsche Bank increased 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 analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $29.33.
Shares of GAP stock opened at $22.35 on Wednesday. The company has a market cap of $8.32 billion, a P/E ratio of 8.63, a P/E/G ratio of 1.01 and a beta of 0.53. Gap Inc has a twelve month low of $21.66 and a twelve month high of $34.21. 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 (NYSE:GPS) last issued its quarterly earnings data on Thursday, February 28th. The apparel retailer reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. The company had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.72 billion. GAP had a net margin of 6.05% and a return on equity of 29.65%. During the same quarter in the prior year, the firm earned $0.61 earnings per share. On average, research analysts anticipate that Gap Inc will post 2.43 earnings per share for the current fiscal 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 dividend of $0.2425 per share. 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 4.34%. GAP’s dividend payout ratio (DPR) is 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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