Empowered Funds LLC Trims Stake in Gap Inc (GPS)
Empowered Funds LLC trimmed its holdings in Gap Inc (NYSE:GPS) by 16.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 87,949 shares of the apparel retailer’s stock after selling 17,711 shares during the quarter. GAP comprises 1.0% of Empowered Funds LLC’s investment portfolio, making the stock its 13th largest holding. Empowered Funds LLC’s holdings in GAP were worth $2,266,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. Fruth Investment Management raised its holdings in shares of GAP by 1.8% in the fourth quarter. Fruth Investment Management now owns 44,750 shares of the apparel retailer’s stock valued at $1,152,000 after buying an additional 800 shares during the last quarter. Alpha Windward LLC raised its holdings in shares of GAP by 4.3% in the fourth quarter. Alpha Windward LLC now owns 19,551 shares of the apparel retailer’s stock valued at $504,000 after buying an additional 813 shares during the last quarter. Gateway Investment Advisers LLC raised its holdings in shares of GAP by 0.4% in the fourth quarter. Gateway Investment Advisers LLC now owns 270,971 shares of the apparel retailer’s stock valued at $6,980,000 after buying an additional 1,140 shares during the last quarter. OLD National Bancorp IN raised its holdings in shares of GAP by 5.7% in the third quarter. OLD National Bancorp IN now owns 57,907 shares of the apparel retailer’s stock valued at $1,670,000 after buying an additional 3,145 shares during the last quarter. Finally, Avestar Capital LLC raised its holdings in GAP by 72.0% during the third quarter. Avestar Capital LLC now owns 7,776 shares of the apparel retailer’s stock worth $206,000 after purchasing an additional 3,255 shares in the last quarter. 56.59% of the stock is owned by institutional investors and hedge funds.
In other GAP news, EVP Julie Gruber sold 7,500 shares of the stock in a transaction dated Wednesday, January 16th. The shares were sold at an average price of $24.73, for a total value of $185,475.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 30.60% of the company’s stock.
GAP (NYSE:GPS) last issued its earnings results on Tuesday, November 20th. The apparel retailer reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.01. GAP had a net margin of 5.57% and a return on equity of 29.45%. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same period last year, the company posted $0.58 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts forecast that Gap Inc will post 2.56 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 30th. Shareholders of record on Wednesday, January 9th will be issued a $0.2425 dividend. The ex-dividend date is Tuesday, January 8th. This represents a $0.97 dividend on an annualized basis and a yield of 3.89%. GAP’s dividend payout ratio (DPR) is presently 45.54%.
Several research firms recently issued reports on GPS. Goldman Sachs Group cut shares of GAP from a “neutral” rating to a “sell” rating and cut their price target for the stock from $27.00 to $23.00 in a report on Tuesday. Barclays cut shares of GAP from an “overweight” rating to an “underweight” rating and set a $25.25 price target for the company. in a report on Friday, January 11th. MKM Partners cut their price target on shares of GAP to $30.00 and set a “neutral” rating for the company in a report on Wednesday, November 28th. Credit Suisse Group cut their price target on shares of GAP from $33.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, November 21st. Finally, B. Riley cut their price target on shares of GAP from $33.00 to $30.00 and set a “neutral” rating for the company in a report on Wednesday, November 21st. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating and three have assigned a buy rating to the company. GAP currently has a consensus rating of “Hold” and a consensus price target of $30.75.
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GAP Company Profile
The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, and Intermix brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.
Read More: Stock Symbols and CUSIP Explained
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