Occidental Asset Management LLC Increases Stake in Gap Inc (NYSE:GPS)

Occidental Asset Management LLC lifted its stake in Gap Inc (NYSE:GPS) by 11.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,436 shares of the apparel retailer’s stock after purchasing an additional 2,146 shares during the period. Occidental Asset Management LLC’s holdings in GAP were worth $367,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GPS. Bremer Bank National Association bought a new position in shares of GAP in the first quarter worth about $29,000. Atlas Capital Advisors LLC bought a new position in shares of GAP in the second quarter worth about $52,000. Parallel Advisors LLC grew its holdings in shares of GAP by 103.5% in the first quarter. Parallel Advisors LLC now owns 3,623 shares of the apparel retailer’s stock worth $95,000 after purchasing an additional 1,843 shares during the last quarter. Quantamental Technologies LLC bought a new position in shares of GAP in the first quarter worth about $137,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of GAP by 78.0% in the first quarter. Quadrant Capital Group LLC now owns 5,795 shares of the apparel retailer’s stock worth $149,000 after purchasing an additional 2,539 shares during the last quarter. Hedge funds and other institutional investors own 57.67% of the company’s stock.

In other GAP news, CEO Mcneil S. Fiske, Jr. sold 16,183 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $18.00, for a total transaction of $291,294.00. Following the completion of the transaction, the chief executive officer now directly owns 32,500 shares of the company’s stock, valued at approximately $585,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 37.60% of the company’s stock.

GPS traded down $1.24 during trading on Thursday, reaching $15.29. 451,991 shares of the company’s stock were exchanged, compared to its average volume of 5,790,397. Gap Inc has a 1 year low of $16.52 and a 1 year high of $32.98. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.49 and a quick ratio of 0.70. The stock has a market capitalization of $6.25 billion, a PE ratio of 5.92, a P/E/G ratio of 0.95 and a beta of 0.71. The stock has a fifty day moving average of $18.34.

GAP (NYSE:GPS) last posted its quarterly earnings results on Thursday, May 30th. The apparel retailer reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.07). GAP had a return on equity of 26.73% and a net margin of 6.46%. The business had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the prior year, the business posted $0.42 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, analysts predict that Gap Inc will post 2.05 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th were given a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a yield of 6.34%. The ex-dividend date of this dividend was Tuesday, July 9th. GAP’s dividend payout ratio is presently 37.45%.

A number of research firms have recently commented on GPS. Argus restated a “hold” rating on shares of GAP in a report on Tuesday, June 4th. Wedbush dropped their target price on shares of GAP from $23.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Bank of America reiterated an “underperform” rating and set a $15.00 target price (down from $24.00) on shares of GAP in a report on Friday, May 31st. B. Riley dropped their target price on shares of GAP from $30.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Finally, Nomura dropped their target price on shares of GAP from $22.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $24.73.

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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