Empirical Finance LLC Has $1.57 Million Stake in Gap, Inc. (The) (GPS)
Empirical Finance LLC grew its stake in shares of Gap, Inc. (The) (NYSE:GPS) by 82.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,149 shares of the apparel retailer’s stock after purchasing an additional 32,145 shares during the quarter. Empirical Finance LLC’s holdings in Gap, Inc. (The) were worth $1,565,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Gap, Inc. (The) by 8.8% during the first quarter. Vanguard Group Inc. now owns 23,100,485 shares of the apparel retailer’s stock valued at $561,111,000 after purchasing an additional 1,876,653 shares during the period. BlackRock Inc. boosted its stake in shares of Gap, Inc. (The) by 4,968.6% during the first quarter. BlackRock Inc. now owns 22,738,113 shares of the apparel retailer’s stock valued at $552,308,000 after purchasing an additional 22,289,507 shares during the period. American International Group Inc. boosted its stake in shares of Gap, Inc. (The) by 1.2% during the first quarter. American International Group Inc. now owns 16,667,815 shares of the apparel retailer’s stock valued at $404,861,000 after purchasing an additional 201,177 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Gap, Inc. (The) by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 9,680,123 shares of the apparel retailer’s stock valued at $212,867,000 after purchasing an additional 57,609 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Gap, Inc. (The) by 0.3% during the second quarter. Franklin Resources Inc. now owns 5,617,494 shares of the apparel retailer’s stock valued at $123,529,000 after purchasing an additional 15,504 shares during the period. 56.21% of the stock is owned by hedge funds and other institutional investors.
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Shares of Gap, Inc. (NYSE GPS) traded up 5.571% during midday trading on Tuesday, hitting $27.385. The company’s stock had a trading volume of 6,271,604 shares. Gap, Inc. has a 12-month low of $21.02 and a 12-month high of $30.74. The firm has a market cap of $10.74 billion, a price-to-earnings ratio of 13.047 and a beta of 0.82. The firm has a 50-day moving average of $23.67 and a 200 day moving average of $23.71.
Gap, Inc. (The) (NYSE:GPS) last issued its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.58 earnings per share for the quarter, beating 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 business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. On average, equities research analysts predict that Gap, Inc. will post $2.06 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.55%. Gap, Inc. (The)’s payout ratio is presently 43.81%.
A number of brokerages recently commented on GPS. ValuEngine lowered Gap, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Citigroup Inc. raised Gap, Inc. (The) from a “sell” rating to a “neutral” rating and raised their price target for the stock from $22.00 to $24.00 in a research note on Friday, September 1st. Morgan Stanley reaffirmed an “underperform” rating and issued a $20.00 price target on shares of Gap, Inc. (The) in a research note on Monday, May 22nd. Zacks Investment Research raised Gap, Inc. (The) from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Monday. Finally, CIBC raised Gap, Inc. (The) from a “market perform” rating to an “outperform” rating in a research note on Monday, June 5th. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $25.86.
In related news, EVP Paul Joseph Chapman sold 4,898 shares of Gap, Inc. (The) stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $22.82, for a total value of $111,772.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sonia Syngal sold 1,935 shares of Gap, Inc. (The) stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $25.79, for a total value of $49,903.65. Following the completion of the transaction, the chief executive officer now owns 39,656 shares of the company’s stock, valued at $1,022,728.24. The disclosure for this sale can be found here. Insiders sold 9,833 shares of company stock valued at $231,606 over the last ninety days. Insiders own 27.30% of the company’s stock.
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.
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