Gyroscope Capital Management Group LLC bought a new position in shares of Gap Inc (NYSE:GPS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 197,284 shares of the apparel retailer’s stock, valued at approximately $5,826,000. GAP accounts for about 2.9% of Gyroscope Capital Management Group LLC’s investment portfolio, making the stock its 13th largest holding. Gyroscope Capital Management Group LLC owned approximately 0.05% of GAP at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in GAP by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 23,743,881 shares of the apparel retailer’s stock worth $522,127,000 after buying an additional 643,396 shares during the period. BlackRock Inc. increased its stake in GAP by 1.5% during the 2nd quarter. BlackRock Inc. now owns 23,076,989 shares of the apparel retailer’s stock worth $507,464,000 after buying an additional 338,876 shares during the period. Bank of New York Mellon Corp increased its stake in GAP by 10.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 10,710,283 shares of the apparel retailer’s stock worth $316,275,000 after buying an additional 1,030,160 shares during the period. Franklin Resources Inc. increased its stake in GAP by 0.3% during the 2nd quarter. Franklin Resources Inc. now owns 5,617,494 shares of the apparel retailer’s stock worth $123,529,000 after buying an additional 15,504 shares during the period. Finally, APG Asset Management N.V. increased its stake in GAP by 27.7% during the 3rd quarter. APG Asset Management N.V. now owns 4,652,508 shares of the apparel retailer’s stock worth $137,389,000 after buying an additional 1,009,400 shares during the period. 54.78% of the stock is currently owned by institutional investors and hedge funds.

GPS has been the topic of several recent research reports. Jefferies Group set a $35.00 target price on shares of GAP and gave the stock a “buy” rating in a research note on Wednesday, August 16th. Zacks Investment Research cut shares of GAP from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Oppenheimer set a $28.00 price target on shares of GAP and gave the stock a “buy” rating in a report on Thursday, August 17th. Deutsche Bank boosted their price target on shares of GAP from $23.00 to $24.00 and gave the stock a “hold” rating in a report on Friday, August 18th. Finally, Bank of America reiterated an “underperform” rating and set a $20.00 price target (up previously from $19.00) on shares of GAP in a report on Sunday, August 20th. Four research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $27.94.

Gap Inc (NYSE:GPS) traded up $0.30 during mid-day trading on Thursday, reaching $34.26. 4,762,600 shares of the company traded hands, compared to its average volume of 5,970,731. Gap Inc has a 1 year low of $21.02 and a 1 year high of $34.41. The stock has a market cap of $13,205.59, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 2.02 and a beta of 0.95. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.77 and a current ratio of 1.73.

GAP (NYSE:GPS) last released its quarterly earnings results on Thursday, November 16th. The apparel retailer reported $0.58 EPS for the quarter, beating the consensus estimate of $0.55 by $0.03. GAP had a net margin of 5.57% and a return on equity of 27.47%. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. GAP’s revenue for the quarter was up 1.1% on a year-over-year basis. research analysts anticipate that Gap Inc will post 2.1 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 3rd will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $0.92 annualized dividend and a yield of 2.69%. GAP’s dividend payout ratio (DPR) is 42.40%.

In other GAP news, CEO Jeff Kirwan sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $26.11, for a total transaction of $26,110.00. Following the completion of the transaction, the chief executive officer now owns 24,268 shares in the company, valued at approximately $633,637.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William Sydney Fisher sold 666,849 shares of the company’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $27.99, for a total transaction of $18,665,103.51. Following the transaction, the director now owns 12,237,873 shares of the company’s stock, valued at approximately $342,538,065.27. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,212,077 shares of company stock valued at $67,302,126. 27.30% of the stock is owned by insiders.

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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.

Institutional Ownership by Quarter for GAP (NYSE:GPS)

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