Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires New Holdings in Gap Inc (GPS)
Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Gap Inc (NYSE:GPS) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 22,714 shares of the apparel retailer’s stock, valued at approximately $736,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GPS. Bronfman E.L. Rothschild L.P. increased its holdings in GAP by 263.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,444 shares of the apparel retailer’s stock valued at $139,000 after purchasing an additional 3,221 shares during the last quarter. Squar Milner Financial Services LLC bought a new stake in GAP in the second quarter valued at about $196,000. Rampart Investment Management Company LLC increased its holdings in GAP by 118.7% in the first quarter. Rampart Investment Management Company LLC now owns 6,398 shares of the apparel retailer’s stock valued at $200,000 after purchasing an additional 3,472 shares during the last quarter. Advisor Partners LLC bought a new stake in GAP in the first quarter valued at about $203,000. Finally, Fiduciary Trust Co. bought a new stake in GAP in the first quarter valued at about $228,000. Institutional investors and hedge funds own 57.67% of the company’s stock.
GPS stock opened at $30.71 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.96 and a debt-to-equity ratio of 0.37. The stock has a market cap of $11.49 billion, a PE ratio of 12.51, a PEG ratio of 1.27 and a beta of 0.71. Gap Inc has a fifty-two week low of $22.98 and a fifty-two week high of $35.68.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Wednesday, October 10th will be given a dividend of $0.2425 per share. The ex-dividend date is Tuesday, October 9th. This represents a $0.97 annualized dividend and a dividend yield of 3.16%. GAP’s dividend payout ratio is currently 45.54%.
A number of research analysts have issued reports on the company. Citigroup raised GAP from a “sell” rating to a “neutral” rating and set a $28.00 target price for the company in a research note on Monday. They noted that the move was a valuation call. Barclays set a $39.00 target price on GAP and gave the company a “buy” rating in a research note on Saturday. JPMorgan Chase & Co. decreased their target price on GAP from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, August 24th. B. Riley decreased their target price on GAP from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, August 24th. Finally, Guggenheim reissued a “hold” rating on shares of GAP in a research note on Friday, August 24th. Twenty research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. GAP presently has an average rating of “Hold” and an average price target of $33.74.
In other news, Director William Sydney Fisher sold 1,000,000 shares of the company’s stock in a transaction dated Tuesday, June 19th. The stock was sold at an average price of $32.37, for a total transaction of $32,370,000.00. Following the completion of the transaction, the director now directly owns 10,760,396 shares of the company’s stock, valued at $348,314,018.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 30.60% of the stock is owned by corporate insiders.
Gap, Inc operates as a global apparel retail company. It offers apparel, accessories, and personal care products for men, women and children. The company operates through segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Intermix. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody and GapFit collections.
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