Gap, Inc. (The) (GPS) Stake Lowered by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System decreased its holdings in shares of Gap, Inc. (The) (NYSE:GPS) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 325,162 shares of the apparel retailer’s stock after selling 4,580 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.08% of Gap, Inc. (The) worth $9,602,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ffcm LLC grew its holdings in shares of Gap, Inc. (The) by 198.0% during the second quarter. Ffcm LLC now owns 5,296 shares of the apparel retailer’s stock worth $121,000 after purchasing an additional 3,519 shares in the last quarter. Howe & Rusling Inc. purchased a new position in shares of Gap, Inc. (The) during the third quarter worth about $190,000. James Investment Research Inc. purchased a new position in shares of Gap, Inc. (The) during the second quarter worth about $144,000. Bridges Investment Management Inc. purchased a new position in shares of Gap, Inc. (The) during the third quarter worth about $236,000. Finally, Paragon Capital Management Ltd purchased a new position in shares of Gap, Inc. (The) during the second quarter worth about $229,000. 56.50% of the stock is owned by institutional investors.

In related news, Director William Sydney Fisher sold 666,849 shares of the stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $27.99, for a total transaction of $18,665,103.51. Following the sale, the director now directly owns 12,237,873 shares of the company’s stock, valued at $342,538,065.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeff Kirwan sold 1,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $26.11, for a total value of $26,110.00. Following the sale, the chief executive officer now directly owns 24,268 shares in the company, valued at $633,637.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 676,682 shares of company stock worth $18,906,180. Insiders own 27.30% of the company’s stock.

A number of analysts recently weighed in on the company. Barclays PLC assumed coverage on Gap, Inc. (The) in a research report on Tuesday, September 19th. They issued an “overweight” rating and a $32.00 target price for the company. Zacks Investment Research upgraded Gap, Inc. (The) from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Thursday, September 21st. Oppenheimer Holdings, Inc. set a $28.00 target price on Gap, Inc. (The) and gave the stock a “buy” rating in a research report on Thursday, August 17th. Jefferies Group LLC set a $35.00 target price on Gap, Inc. (The) and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Finally, Deutsche Bank AG boosted their target price on Gap, Inc. (The) from $23.00 to $24.00 and gave the stock a “hold” rating in a research report on Friday, August 18th. Three analysts have rated the stock with a sell rating, twenty have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $26.86.

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Shares of Gap, Inc. (NYSE GPS) opened at $27.23 on Friday. Gap, Inc. has a 12 month low of $21.02 and a 12 month high of $30.74. The company has a market capitalization of $10,678.49, a price-to-earnings ratio of 13.28, a PEG ratio of 1.65 and a beta of 0.86. The company has a quick ratio of 0.92, a current ratio of 1.77 and a debt-to-equity ratio of 0.42.

Gap, Inc. (The) (NYSE:GPS) last released its earnings results on Thursday, August 17th. The apparel retailer reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. Gap, Inc. (The) had a return on equity of 28.50% and a net margin of 5.42%. The firm had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. equities research analysts anticipate that Gap, Inc. will post 2.06 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 3rd will be paid a $0.23 dividend. The ex-dividend date is Tuesday, January 2nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.38%. Gap, Inc. (The)’s dividend payout ratio is currently 43.81%.

Gap, Inc. (The) Company Profile

The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.

Institutional Ownership by Quarter for Gap, Inc. (The) (NYSE:GPS)

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