Oregon Public Employees Retirement Fund increased its position in Gap Inc. (NYSE:GPS) by 39.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,680 shares of the apparel retailer’s stock after buying an additional 39,407 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Gap were worth $3,106,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its position in shares of 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 in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of 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 in the last quarter. First Republic Investment Management Inc. raised its position in shares of 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 in the last quarter. Exxonmobil Investment Management Inc. TX raised its position in shares of 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 in the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its position in shares of 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 in the last quarter. Institutional investors own 58.00% of the company’s stock.

Institutional Ownership by Quarter for Gap (NYSE:GPS)

Gap (NYSE:GPS) last announced its earnings results on Thursday, November 17th. The apparel retailer reported $0.60 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.60. The company earned $3.80 billion during the quarter, compared to the consensus estimate of $3.74 billion. Gap had a net margin of 4.33% and a return on equity of 32.19%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 earnings per share.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Wednesday, January 4th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, December 30th. This represents a $0.92 annualized dividend and a dividend yield of 3.65%. Gap’s dividend payout ratio is currently 55.09%.

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Several brokerages recently weighed in on GPS. Morgan Stanley restated an “underweight” rating on shares of Gap in a report on Tuesday. Vetr lowered shares of Gap from a “buy” rating to a “hold” rating and set a $25.82 price objective on the stock. in a report on Tuesday. Piper Jaffray Cos. upgraded shares of Gap from an “underweight” rating to a “neutral” rating and set a $23.00 price objective on the stock in a report on Monday. They noted that the move was a valuation call. Jefferies Group reaffirmed a “positive” rating on shares of Gap in a research note on Monday. Finally, Zacks Investment Research downgraded shares of Gap from a “buy” rating to a “hold” rating in a research note on Tuesday, November 22nd. Four investment analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $24.84.

In related news, President Jeff Kirwan sold 11,406 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $25.38, for a total transaction of $289,484.28. Following the completion of the transaction, the president now owns 19,094 shares in the company, valued at $484,605.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Paul Joseph Chapman sold 6,764 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $24.99, for a total transaction of $169,032.36. The disclosure for this sale can be found here. 30.00% of the stock is currently owned by insiders.

About Gap

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.

5 Day Chart for NYSE:GPS

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