Gap Inc (NYSE:GPS) Shares Sold by Public Employees Retirement System of Ohio

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Public Employees Retirement System of Ohio trimmed its holdings in Gap Inc (NYSE:GPS) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,390 shares of the apparel retailer’s stock after selling 1,109 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in GAP were worth $1,445,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Bremer Bank National Association purchased a new stake in GAP during the first quarter valued at about $29,000. Atlas Capital Advisors LLC acquired a new position in shares of GAP in the 2nd quarter valued at about $52,000. FNY Investment Advisers LLC acquired a new position in shares of GAP in the 2nd quarter valued at about $158,000. Dynamic Capital Management Ltd acquired a new position in shares of GAP in the 2nd quarter valued at about $189,000. Finally, Wealthsource Partners LLC acquired a new position in shares of GAP in the 2nd quarter valued at about $198,000. 59.90% of the stock is owned by institutional investors.

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

A number of equities analysts have recently weighed in on the company. Guggenheim reiterated a “hold” rating on shares of GAP in a report on Thursday, September 12th. Wells Fargo & Co upped their target price on GAP from $18.00 to $24.00 and gave the company a “market perform” rating in a report on Friday, September 13th. Credit Suisse Group reiterated a “neutral” rating and issued a $24.00 target price (up previously from $18.00) on shares of GAP in a report on Friday, September 13th. Telsey Advisory Group upped their target price on GAP from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Finally, Morgan Stanley set a $15.00 target price on GAP and gave the company a “sell” rating in a report on Friday, September 13th. Six 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 has a consensus rating of “Hold” and an average target price of $23.83.

NYSE:GPS traded down $0.46 during mid-day trading on Thursday, reaching $17.48. The stock had a trading volume of 84,128 shares, compared to its average volume of 8,959,182. The business’s 50 day moving average is $17.26 and its 200 day moving average is $21.13. Gap Inc has a fifty-two week low of $15.11 and a fifty-two week high of $31.39. The stock has a market cap of $6.97 billion, a P/E ratio of 6.74, a PEG ratio of 1.00 and a beta of 0.71. 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 (NYSE:GPS) last released its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.11. GAP had a return on equity of 24.53% and a net margin of 5.71%. The firm had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. The firm’s revenue was down 2.0% on a year-over-year basis. Equities analysts expect that Gap Inc will post 2.06 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Wednesday, October 9th will be paid a $0.243 dividend. The ex-dividend date of this dividend is Tuesday, October 8th. This is a positive change from GAP’s previous quarterly dividend of $0.24. This represents a $0.97 dividend on an annualized basis and a dividend yield of 5.56%. GAP’s dividend payout ratio (DPR) is 37.45%.

About GAP

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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