Arizona State Retirement System reduced its holdings in Gap Inc (NYSE:GPS) by 6.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,016 shares of the apparel retailer’s stock after selling 2,872 shares during the period. Arizona State Retirement System’s holdings in GAP were worth $1,074,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bremer Trust National Association acquired a new stake in shares of GAP during the 4th quarter worth approximately $29,000. Parallel Advisors LLC grew its holdings in shares of GAP by 387.7% during the 4th quarter. Parallel Advisors LLC now owns 1,780 shares of the apparel retailer’s stock worth $45,000 after purchasing an additional 1,415 shares in the last quarter. NuWave Investment Management LLC grew its holdings in shares of GAP by 11,075.0% during the 1st quarter. NuWave Investment Management LLC now owns 2,235 shares of the apparel retailer’s stock worth $58,000 after purchasing an additional 2,215 shares in the last quarter. FTB Advisors Inc. grew its holdings in shares of GAP by 258.2% during the 4th quarter. FTB Advisors Inc. now owns 2,672 shares of the apparel retailer’s stock worth $68,000 after purchasing an additional 1,926 shares in the last quarter. Finally, Legacy Advisors LLC acquired a new stake in shares of GAP during the 1st quarter worth approximately $88,000. 57.79% of the stock is currently owned by institutional investors.

Shares of GPS stock opened at $22.39 on Thursday. The company has a current ratio of 1.96, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $8.61 billion, a P/E ratio of 8.64, a P/E/G ratio of 1.02 and a beta of 0.53. Gap Inc has a one year low of $21.75 and a one year high of $34.21.

GAP (NYSE:GPS) last announced its quarterly earnings results on Thursday, February 28th. The apparel retailer reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.04. The business had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.72 billion. GAP had a return on equity of 29.65% and a net margin of 6.05%. During the same quarter in the previous year, the firm earned $0.61 EPS. Research analysts expect that Gap Inc will post 2.47 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a $0.2425 dividend. This represents a $0.97 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend was Tuesday, April 9th. GAP’s dividend payout ratio is 37.45%.

Several brokerages have recently weighed in on GPS. ValuEngine lowered GAP from a “sell” rating to a “strong sell” rating in a report on Monday. Zacks Investment Research raised GAP from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Guggenheim reissued a “hold” rating on shares of GAP in a report on Sunday, April 21st. Credit Suisse Group decreased their price objective on GAP from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, February 26th. Finally, Standpoint Research raised GAP from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $29.33.

In other GAP news, CEO Sonia Syngal sold 11,764 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $26.51, for a total value of $311,863.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Julie Gruber sold 3,286 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $24.00, for a total value of $78,864.00. The disclosure for this sale can be found here. 37.60% of the stock is owned by insiders.

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GAP 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, Intermix, and Hill City 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.

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Institutional Ownership by Quarter for GAP (NYSE:GPS)

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