Retirement Systems of Alabama decreased its position in shares of Gap Inc (NYSE:GPS) by 0.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 99,460 shares of the apparel retailer’s stock after selling 606 shares during the quarter. Retirement Systems of Alabama’s holdings in GAP were worth $2,604,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Bremer Trust National Association purchased a new position in GAP in the 4th quarter worth approximately $29,000. Parallel Advisors LLC increased its stake in GAP by 387.7% in 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 during the period. NuWave Investment Management LLC increased its stake in GAP by 11,075.0% in 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 during the period. FTB Advisors Inc. increased its stake in GAP by 258.2% in 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 during the period. Finally, Legacy Advisors LLC bought a new stake in shares of GAP in the 1st quarter worth approximately $88,000. Institutional investors own 57.79% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Standpoint Research lowered GAP from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Zacks Investment Research lowered GAP from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. ValuEngine lowered GAP from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 7th. Deutsche Bank lifted their price objective on GAP from $30.00 to $34.00 and gave the stock a “hold” rating in a research report on Friday, March 1st. Finally, Guggenheim reiterated a “hold” rating on shares of GAP in a research report on Sunday, April 21st. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned 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.
GAP stock traded down $0.67 during mid-day trading on Wednesday, hitting $21.68. The company had a trading volume of 5,390,768 shares, compared to its average volume of 5,264,264. The company has a current ratio of 1.96, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. Gap Inc has a 12 month low of $21.59 and a 12 month high of $34.21. The company has a market capitalization of $8.32 billion, a price-to-earnings ratio of 8.37, a price-to-earnings-growth ratio of 1.01 and a beta of 0.53.
GAP (NYSE:GPS) last released its earnings results on Thursday, February 28th. The apparel retailer reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.04. GAP had a return on equity of 29.65% and a net margin of 6.05%. The business had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same period in the previous year, the company posted $0.61 earnings per share. On average, equities research analysts predict that Gap Inc will post 2.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be paid a $0.2425 dividend. This represents a $0.97 annualized dividend and a dividend yield of 4.47%. GAP’s dividend payout ratio is currently 37.45%.
In other news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 disclosure for this sale can be found here. 37.60% of the stock is owned by insiders.
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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