American International Group Inc. boosted its stake in Gap Inc (NYSE:GPS) by 6.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,739,940 shares of the apparel retailer’s stock after purchasing an additional 1,142,639 shares during the period. GAP comprises 2.0% of American International Group Inc.’s investment portfolio, making the stock its 6th largest position. American International Group Inc.’s holdings in GAP were worth $604,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in the business. Chevy Chase Trust Holdings Inc. increased its stake in GAP by 1.0% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 192,812 shares of the apparel retailer’s stock worth $5,694,000 after purchasing an additional 1,902 shares during the period. Hermes Investment Management Ltd. increased its stake in GAP by 7.3% in the 4th quarter. Hermes Investment Management Ltd. now owns 29,252 shares of the apparel retailer’s stock worth $996,000 after purchasing an additional 2,000 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in GAP by 0.3% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 728,655 shares of the apparel retailer’s stock worth $21,517,000 after purchasing an additional 2,093 shares during the period. Acropolis Investment Management LLC increased its stake in GAP by 115.4% in the 4th quarter. Acropolis Investment Management LLC now owns 4,185 shares of the apparel retailer’s stock worth $143,000 after purchasing an additional 2,242 shares during the period. Finally, Andra AP fonden increased its stake in GAP by 2.6% in the 3rd quarter. Andra AP fonden now owns 89,800 shares of the apparel retailer’s stock worth $2,652,000 after purchasing an additional 2,300 shares during the period. 55.03% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently weighed in on GPS. KeyCorp reiterated an “overweight” rating on shares of GAP in a research report on Friday, November 17th. Canaccord Genuity reiterated a “buy” rating on shares of GAP in a research report on Thursday, December 14th. Zacks Investment Research lowered GAP from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. B. Riley set a $25.00 price objective on GAP and gave the stock a “hold” rating in a research report on Friday, November 17th. Finally, Jefferies Group set a $41.00 price objective on GAP and gave the stock a “buy” rating in a research report on Friday, November 17th. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. GAP presently has an average rating of “Hold” and an average target price of $28.94.
In other GAP news, CEO Jeff Kirwan sold 7,430 shares of GAP stock in a transaction on Friday, December 1st. The stock was sold at an average price of $32.02, for a total transaction of $237,908.60. Following the completion of the transaction, the chief executive officer now owns 30,698 shares in the company, valued at $982,949.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brent Hyder sold 5,839 shares of GAP stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $33.04, for a total value of $192,920.56. The disclosure for this sale can be found here. Insiders have sold 1,553,887 shares of company stock valued at $48,946,363 in the last quarter. 27.30% of the stock is owned by company insiders.
Shares of Gap Inc (NYSE GPS) opened at $33.27 on Monday. The firm has a market capitalization of $12,940.00, a P/E ratio of 15.26, a P/E/G ratio of 1.81 and a beta of 0.86. Gap Inc has a 1 year low of $21.02 and a 1 year high of $35.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.77 and a current ratio of 1.73.
GAP (NYSE:GPS) last announced its quarterly earnings data on Thursday, November 16th. The apparel retailer reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.03. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.76 billion. GAP had a return on equity of 27.47% and a net margin of 5.57%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 earnings per share. research analysts predict that Gap Inc will post 2.1 EPS for the current fiscal year.
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GAP 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.
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