Advisory Services Network LLC reduced its stake in shares of Gap Inc (NYSE:GPS) by 30.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,197 shares of the apparel retailer’s stock after selling 1,848 shares during the period. Advisory Services Network LLC’s holdings in GAP were worth $110,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of GPS. Bremer Trust National Association acquired a new position in GAP during the 4th quarter worth $29,000. Bremer Bank National Association acquired a new position in shares of GAP during the first quarter valued at about $29,000. NuWave Investment Management LLC raised its position in shares of GAP by 11,075.0% during the first quarter. NuWave Investment Management LLC now owns 2,235 shares of the apparel retailer’s stock valued at $58,000 after buying an additional 2,215 shares during the last quarter. FTB Advisors Inc. raised its position in shares of GAP by 258.2% during the fourth quarter. FTB Advisors Inc. now owns 2,672 shares of the apparel retailer’s stock valued at $68,000 after buying an additional 1,926 shares during the last quarter. Finally, Legacy Advisors LLC acquired a new position in shares of GAP during the first quarter valued at about $88,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.
In related news, CEO Mcneil S. Fiske, Jr. sold 16,183 shares of GAP stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $18.00, for a total transaction of $291,294.00. Following the completion of the sale, the chief executive officer now owns 32,500 shares of the company’s stock, valued at approximately $585,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Julie Gruber sold 3,286 shares of GAP stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $24.00, for a total transaction of $78,864.00. The disclosure for this sale can be found here. 37.60% of the stock is currently owned by company insiders.
GAP (NYSE:GPS) last posted its earnings results on Thursday, May 30th. The apparel retailer reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.07). GAP had a return on equity of 26.73% and a net margin of 6.46%. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. Analysts predict that Gap Inc will post 2.07 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be given a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date of this dividend is Tuesday, July 9th. GAP’s dividend payout ratio (DPR) is currently 37.45%.
Several research firms recently issued reports on GPS. Standpoint Research raised shares of GAP from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Royal Bank of Canada set a $125.00 price target on shares of PVH and gave the stock a “buy” rating in a research report on Friday, May 31st. TheStreet raised shares of SUMMIT THERAPEU/S from a “d” rating to a “c-” rating in a research note on Thursday, June 13th. Guggenheim reaffirmed a “hold” rating on shares of GAP in a research note on Sunday, April 21st. Finally, Zacks Investment Research raised shares of Gerdau from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. GAP currently has an average rating of “Hold” and a consensus price target of $25.28.
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, 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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