Cipher Capital LP purchased a new stake in Gap, Inc. (The) (NYSE:GPS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 30,254 shares of the apparel retailer’s stock, valued at approximately $665,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Delta Lloyd Asset Management N.V. bought a new position in Gap, Inc. (The) in the second quarter valued at approximately $765,000. Swiss National Bank lifted its stake in Gap, Inc. (The) by 2.9% in the second quarter. Swiss National Bank now owns 871,931 shares of the apparel retailer’s stock valued at $19,174,000 after buying an additional 24,700 shares in the last quarter. Pacad Investment Ltd. lifted its stake in Gap, Inc. (The) by 304.8% in the second quarter. Pacad Investment Ltd. now owns 65,584 shares of the apparel retailer’s stock valued at $1,442,000 after buying an additional 49,384 shares in the last quarter. ARGI Investment Services LLC lifted its stake in Gap, Inc. (The) by 14.1% in the second quarter. ARGI Investment Services LLC now owns 63,437 shares of the apparel retailer’s stock valued at $1,395,000 after buying an additional 7,846 shares in the last quarter. Finally, Homrich & Berg lifted its stake in Gap, Inc. (The) by 16.4% in the second quarter. Homrich & Berg now owns 24,249 shares of the apparel retailer’s stock valued at $533,000 after buying an additional 3,424 shares in the last quarter. 56.21% of the stock is currently owned by hedge funds and other institutional investors.

Gap, Inc. (GPS) opened at 25.70 on Friday. The company has a 50 day moving average of $23.68 and a 200 day moving average of $23.73. Gap, Inc. has a 1-year low of $21.02 and a 1-year high of $30.74. The firm has a market capitalization of $10.08 billion, a P/E ratio of 12.24 and a beta of 0.82.

Gap, Inc. (The) (NYSE:GPS) last released its earnings results on Thursday, August 17th. The apparel retailer reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.06. Gap, Inc. (The) had a return on equity of 28.50% and a net margin of 5.42%. The company had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the previous year, the business posted $0.60 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities research analysts anticipate that Gap, Inc. will post $2.06 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.58%. The ex-dividend date is Tuesday, October 3rd. Gap, Inc. (The)’s dividend payout ratio (DPR) is currently 43.81%.

A number of research analysts have weighed in on GPS shares. ValuEngine lowered shares of Gap, Inc. (The) from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Jefferies Group LLC set a $35.00 price target on shares of Gap, Inc. (The) and gave the company a “buy” rating in a research note on Friday, May 19th. Zacks Investment Research raised shares of Gap, Inc. (The) from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Tuesday, August 8th. Oppenheimer Holdings, Inc. set a $28.00 price target on shares of Gap, Inc. (The) and gave the company a “buy” rating in a research note on Thursday, August 17th. Finally, TheStreet lowered shares of Gap, Inc. (The) from a “b-” rating to a “c” rating in a research note on Thursday, May 18th. Three research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $25.74.

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In related news, CEO Sonia Syngal sold 1,935 shares of Gap, Inc. (The) stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $25.79, for a total value of $49,903.65. Following the completion of the sale, the chief executive officer now owns 39,656 shares of the company’s stock, valued at approximately $1,022,728.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Paul Joseph Chapman sold 4,898 shares of Gap, Inc. (The) stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $22.82, for a total value of $111,772.36. The disclosure for this sale can be found here. In the last three months, insiders sold 9,833 shares of company stock valued at $231,606. 27.30% of the stock is currently owned by insiders.

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.

Institutional Ownership by Quarter for Gap, Inc. (The) (NYSE:GPS)

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