State of Tennessee Treasury Department lessened its holdings in Gap, Inc. (The) (NYSE:GPS) by 13.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 182,077 shares of the apparel retailer’s stock after selling 28,128 shares during the quarter. State of Tennessee Treasury Department’s holdings in Gap, Inc. (The) were worth $5,377,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Ffcm LLC increased its holdings in Gap, Inc. (The) by 198.0% in the second quarter. Ffcm LLC now owns 5,296 shares of the apparel retailer’s stock valued at $121,000 after buying an additional 3,519 shares during the last quarter. James Investment Research Inc. acquired a new position in Gap, Inc. (The) in the second quarter valued at $144,000. Howe & Rusling Inc. acquired a new position in Gap, Inc. (The) in the third quarter valued at $190,000. Paragon Capital Management Ltd acquired a new position in Gap, Inc. (The) in the second quarter valued at $229,000. Finally, BB&T Securities LLC acquired a new position in Gap, Inc. (The) in the second quarter valued at $233,000. 56.78% of the stock is currently owned by hedge funds and other institutional investors.
GPS has been the subject of several research analyst reports. Barclays PLC initiated coverage on shares of Gap, Inc. (The) in a research note on Tuesday, September 19th. They issued an “overweight” rating and a $32.00 price objective for the company. Zacks Investment Research upgraded shares of Gap, Inc. (The) from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Thursday, September 21st. Oppenheimer Holdings, Inc. set a $28.00 price objective on shares of Gap, Inc. (The) and gave the company a “buy” rating in a research note on Thursday, August 17th. Jefferies Group LLC set a $35.00 price objective on shares of Gap, Inc. (The) and gave the company a “buy” rating in a research note on Wednesday, August 16th. Finally, Deutsche Bank AG upped their price objective on shares of Gap, Inc. (The) from $23.00 to $24.00 and gave the company a “hold” rating in a research note on Friday, August 18th. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $26.86.
Gap, Inc. (NYSE:GPS) opened at $26.73 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.92 and a current ratio of 1.77. Gap, Inc. has a 12 month low of $21.02 and a 12 month high of $30.74. The firm has a market cap of $10,478.48, a P/E ratio of 13.03, a PEG ratio of 1.62 and a beta of 0.86.
Gap, Inc. (The) (NYSE:GPS) last issued its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.06. Gap, Inc. (The) had a net margin of 5.42% and a return on equity of 28.50%. The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period last year, the company posted $0.60 EPS. The company’s revenue was down 1.4% on a year-over-year basis. research analysts predict 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, January 31st. Stockholders of record on Wednesday, January 3rd will be paid a dividend of $0.23 per share. The ex-dividend date is Tuesday, January 2nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.44%. Gap, Inc. (The)’s dividend payout ratio (DPR) is 43.81%.
In other news, Director William Sydney Fisher sold 666,849 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $27.99, for a total transaction of $18,665,103.51. Following the completion of the transaction, the director now directly owns 12,237,873 shares of the company’s stock, valued at approximately $342,538,065.27. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sonia Syngal sold 1,935 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $25.79, for a total transaction of $49,903.65. Following the sale, the chief executive officer now owns 39,656 shares in the company, valued at approximately $1,022,728.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 676,682 shares of company stock valued at $18,906,180. Corporate insiders own 27.30% of the company’s stock.
Gap, Inc. (The) Profile
The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.
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