Gap, Inc. (The) (GPS) Stake Raised by Legal & General Group Plc
Legal & General Group Plc raised its position in Gap, Inc. (The) (NYSE:GPS) by 5.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,415,937 shares of the apparel retailer’s stock after buying an additional 77,985 shares during the period. Legal & General Group Plc owned about 0.36% of Gap, Inc. (The) worth $31,135,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of GPS. Ameritas Investment Partners Inc. acquired a new position in Gap, Inc. (The) during the first quarter worth approximately $127,000. Penserra Capital Management LLC raised its position in Gap, Inc. (The) by 9.5% in the first quarter. Penserra Capital Management LLC now owns 5,980 shares of the apparel retailer’s stock worth $145,000 after buying an additional 520 shares in the last quarter. James Investment Research Inc. acquired a new position in Gap, Inc. (The) during the second quarter worth approximately $144,000. Yorktown Management & Research Co Inc acquired a new position in Gap, Inc. (The) during the first quarter worth approximately $211,000. Finally, Pacer Advisors Inc. raised its position in Gap, Inc. (The) by 67.8% in the first quarter. Pacer Advisors Inc. now owns 9,581 shares of the apparel retailer’s stock worth $233,000 after buying an additional 3,872 shares in the last quarter. 55.68% of the stock is currently owned by institutional investors.
Gap, Inc. (GPS) opened at 23.48 on Thursday. The company’s 50 day moving average price is $23.19 and its 200-day moving average price is $23.70. Gap, Inc. has a 12-month low of $21.02 and a 12-month high of $30.74. The company has a market capitalization of $9.21 billion, a P/E ratio of 11.19 and a beta of 0.87.
Gap, Inc. (The) (NYSE:GPS) last announced its quarterly earnings results on Thursday, August 17th. The apparel retailer reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.06. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.77 billion. Gap, Inc. (The) had a net margin of 5.42% and a return on equity of 28.50%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. Equities analysts forecast that Gap, Inc. will post $2.06 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Tuesday, October 3rd. Gap, Inc. (The)’s dividend payout ratio (DPR) is currently 43.81%.
A number of research firms have commented on GPS. Royal Bank Of Canada reissued a “hold” rating and issued a $26.00 price objective on shares of Gap, Inc. (The) in a research note on Wednesday, August 9th. Robert W. Baird reissued a “neutral” rating and issued a $26.00 price objective on shares of Gap, Inc. (The) in a research note on Sunday, August 20th. Zacks Investment Research lowered Gap, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. BMO Capital Markets set a $23.00 price objective on Gap, Inc. (The) and gave the stock a “hold” rating in a research note on Tuesday, August 8th. Finally, Oppenheimer Holdings, Inc. set a $28.00 price objective on Gap, Inc. (The) and gave the stock a “buy” rating in a research note on Thursday, August 17th. Four analysts have rated the stock with a sell rating, twenty have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $25.67.
In related news, EVP Paul Joseph Chapman sold 4,898 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $22.82, for a total transaction of $111,772.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 6,898 shares of company stock valued at $157,792 in the last three months. 27.30% of the stock is owned by insiders.
Gap, Inc. (The) Company 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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