Engineers Gate Manager LP Invests $788,000 in Gap, Inc. (The) (GPS) Stock
Engineers Gate Manager LP acquired a new position in shares of Gap, Inc. (The) (NYSE:GPS) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 35,815 shares of the apparel retailer’s stock, valued at approximately $788,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Ffcm LLC grew its stake in Gap, Inc. (The) by 198.0% during the 2nd quarter. Ffcm LLC now owns 5,296 shares of the apparel retailer’s stock worth $121,000 after buying an additional 3,519 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in Gap, Inc. (The) during the 1st quarter worth $127,000. James Investment Research Inc. bought a new position in Gap, Inc. (The) during the 2nd quarter worth $144,000. Penserra Capital Management LLC grew its stake in Gap, Inc. (The) by 9.5% during the 1st 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 during the last quarter. Finally, Paragon Capital Management Ltd bought a new position in Gap, Inc. (The) during the 2nd quarter worth $229,000. Hedge funds and other institutional investors own 56.21% of the company’s stock.
Gap, Inc. (GPS) opened at 27.99 on Friday. The company’s 50-day moving average price is $24.20 and its 200 day moving average price is $23.83. The firm has a market capitalization of $10.98 billion, a price-to-earnings ratio of 13.33 and a beta of 0.82. Gap, Inc. has a 52-week low of $21.02 and a 52-week high of $30.74.
Gap, Inc. (The) (NYSE:GPS) last posted its earnings results on Thursday, August 17th. The apparel retailer reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.06. The firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.77 billion. Gap, Inc. (The) had a return on equity of 28.50% and a net margin of 5.42%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. Equities analysts predict that Gap, Inc. will post $2.06 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $0.92 annualized dividend and a yield of 3.29%. Gap, Inc. (The)’s dividend payout ratio is presently 43.81%.
In other Gap, Inc. (The) news, 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 transaction of $111,772.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 transaction, the chief executive officer now owns 39,656 shares in the company, valued at $1,022,728.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,833 shares of company stock worth $231,606. Corporate insiders own 27.30% of the company’s stock.
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A number of brokerages recently commented on GPS. Zacks Investment Research upgraded Gap, Inc. (The) from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Friday, August 25th. BMO Capital Markets set a $23.00 price target on Gap, Inc. (The) and gave the stock a “hold” rating in a research report on Tuesday, August 8th. Robert W. Baird reiterated a “neutral” rating and set a $26.00 price target on shares of Gap, Inc. (The) in a research report on Sunday, August 20th. Jefferies Group LLC set a $35.00 price target on Gap, Inc. (The) and gave the stock a “buy” rating in a research report on Friday, May 19th. Finally, ValuEngine upgraded Gap, Inc. (The) from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Three 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 stock. The stock has an average rating of “Hold” and an average price target of $26.01.
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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