First Trust Advisors LP cut its holdings in shares of Gap Inc (NYSE:GPS) by 20.3% in the 4th quarter, Holdings Channel reports. The firm owned 888,663 shares of the apparel retailer’s stock after selling 225,823 shares during the period. First Trust Advisors LP’s holdings in GAP were worth $30,268,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. San Francisco Sentry Investment Group CA lifted its stake in GAP by 543.3% during the fourth quarter. San Francisco Sentry Investment Group CA now owns 3,493 shares of the apparel retailer’s stock valued at $119,000 after purchasing an additional 2,950 shares during the last quarter. Cerebellum GP LLC acquired a new stake in GAP during the fourth quarter valued at approximately $130,000. Acropolis Investment Management LLC lifted its stake in GAP by 115.4% during the fourth quarter. Acropolis Investment Management LLC now owns 4,185 shares of the apparel retailer’s stock valued at $143,000 after purchasing an additional 2,242 shares during the last quarter. NuWave Investment Management LLC acquired a new stake in GAP during the fourth quarter valued at approximately $244,000. Finally, AE Wealth Management LLC acquired a new stake in GAP during the third quarter valued at approximately $223,000. 56.64% of the stock is owned by institutional investors and hedge funds.
In other GAP news, CEO Jeff Kirwan sold 7,430 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $32.02, for a total value of $237,908.60. Following the transaction, the chief executive officer now owns 30,698 shares in the company, valued at approximately $982,949.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Dara Bazzano sold 1,593 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $30.04, for a total transaction of $47,853.72. Following the transaction, the vice president now owns 2,866 shares in the company, valued at approximately $86,094.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,553,887 shares of company stock worth $48,946,363. Company insiders own 27.30% of the company’s stock.
Several research firms recently commented on GPS. Wolfe Research lowered shares of GAP from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 26th. Barclays increased their target price on shares of GAP from $34.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Zacks Investment Research raised shares of GAP from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Thursday, January 18th. Robert W. Baird set a $35.00 price target on shares of GAP and gave the company a “hold” rating in a report on Friday, December 22nd. Finally, Canaccord Genuity restated a “buy” rating on shares of GAP in a report on Thursday, December 14th. Three analysts have rated the stock with a sell rating, twenty have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $28.94.
Gap Inc (NYSE GPS) opened at $31.61 on Wednesday. The firm has a market cap of $12,937.28, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 1.81 and a beta of 0.86. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 0.77. Gap Inc has a 12 month low of $21.02 and a 12 month high of $35.68.
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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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