Gap Inc. (GPS) Stake Boosted by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA boosted its stake in shares of Gap Inc. (NYSE:GPS) by 11.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 154,810 shares of the apparel retailer’s stock after buying an additional 15,647 shares during the period. BNP Paribas Arbitrage SA’s holdings in Gap were worth $3,443,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its position in Gap by 20.2% in the first quarter. Envestnet Asset Management Inc. now owns 42,361 shares of the apparel retailer’s stock valued at $1,245,000 after buying an additional 7,125 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in Gap by 37.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 18,954 shares of the apparel retailer’s stock valued at $558,000 after buying an additional 5,166 shares during the last quarter. First Republic Investment Management Inc. increased its position in Gap by 38.1% in the first quarter. First Republic Investment Management Inc. now owns 47,404 shares of the apparel retailer’s stock valued at $1,393,000 after buying an additional 13,077 shares during the last quarter. Exxonmobil Investment Management Inc. TX increased its position in Gap by 6.6% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 58,717 shares of the apparel retailer’s stock valued at $1,246,000 after buying an additional 3,621 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its position in Gap by 1.5% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 195,763 shares of the apparel retailer’s stock valued at $4,154,000 after buying an additional 2,841 shares during the last quarter. 58.00% of the stock is currently owned by institutional investors.
Shares of Gap Inc. (NYSE:GPS) traded down 0.94% during midday trading on Tuesday, hitting $25.24. 5,922,323 shares of the stock traded hands. The company’s 50-day moving average is $26.98 and its 200 day moving average is $23.57. Gap Inc. has a 52 week low of $17.00 and a 52 week high of $30.74. The firm has a market capitalization of $10.07 billion, a PE ratio of 15.02 and a beta of 1.06.
Gap (NYSE:GPS) last announced its quarterly earnings data on Thursday, November 17th. The apparel retailer reported $0.60 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.60. The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Gap had a net margin of 4.33% and a return on equity of 32.19%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. Analysts anticipate that Gap Inc. will post $1.94 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Wednesday, January 4th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Friday, December 30th. Gap’s dividend payout ratio (DPR) is presently 55.09%.
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GPS has been the topic of several research reports. Vetr raised Gap from a “buy” rating to a “strong-buy” rating and set a $27.65 target price on the stock in a research report on Tuesday, August 2nd. FBR & Co set a $22.00 price target on Gap and gave the company a “hold” rating in a research note on Friday, August 5th. Mizuho upgraded Gap from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $17.00 to $24.00 in a research note on Tuesday, August 9th. Royal Bank Of Canada boosted their price target on Gap from $20.00 to $23.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 9th. Finally, RBC Capital Markets reiterated a “hold” rating and issued a $23.00 price target (up from $20.00) on shares of Gap in a research note on Tuesday, August 9th. Four analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and four have assigned a buy rating to the stock. Gap presently has a consensus rating of “Hold” and an average target price of $24.84.
In other Gap news, EVP Paul Joseph Chapman sold 6,764 shares of the company’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $24.99, for a total value of $169,032.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Jeff Kirwan sold 11,406 shares of the company’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $25.38, for a total transaction of $289,484.28. Following the completion of the sale, the president now owns 19,094 shares in the company, valued at approximately $484,605.72. The disclosure for this sale can be found here. 30.00% of the stock is currently owned by company insiders.
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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