Nomura Asset Management Co. Ltd. boosted its holdings in Gap Inc (NYSE:GPS) by 40.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,078 shares of the apparel retailer’s stock after buying an additional 13,636 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in GAP were worth $1,604,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its position in shares of GAP by 19.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 60,077 shares of the apparel retailer’s stock valued at $1,774,000 after purchasing an additional 9,732 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of GAP by 50.6% during the 3rd quarter. Principal Financial Group Inc. now owns 542,113 shares of the apparel retailer’s stock valued at $16,008,000 after purchasing an additional 182,208 shares in the last quarter. Swiss National Bank grew its position in shares of GAP by 0.3% during the 3rd quarter. Swiss National Bank now owns 874,931 shares of the apparel retailer’s stock valued at $25,837,000 after purchasing an additional 3,000 shares in the last quarter. FDx Advisors Inc. grew its position in shares of GAP by 30.4% during the 3rd quarter. FDx Advisors Inc. now owns 14,487 shares of the apparel retailer’s stock valued at $428,000 after purchasing an additional 3,378 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of GAP by 1.1% during the 3rd quarter. New York State Common Retirement Fund now owns 526,200 shares of the apparel retailer’s stock valued at $15,539,000 after purchasing an additional 5,900 shares in the last quarter. Institutional investors and hedge funds own 58.30% of the company’s stock.
In other news, CEO Jeff Kirwan sold 101,820 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $33.73, for a total transaction of $3,434,388.60. Following the completion of the transaction, the chief executive officer now directly owns 101,820 shares of the company’s stock, valued at $3,434,388.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Brent Hyder sold 5,839 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $33.04, for a total transaction of $192,920.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,776,264 shares of company stock valued at $58,017,594. Insiders own 27.30% of the company’s stock.
GAP stock traded down $1.17 during mid-day trading on Friday, hitting $30.84. The company’s stock had a trading volume of 4,979,390 shares, compared to its average volume of 4,170,005. The company has a quick ratio of 1.04, a current ratio of 1.86 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $11,996.76, a PE ratio of 14.48, a P/E/G ratio of 1.47 and a beta of 0.84. Gap Inc has a 12 month low of $21.02 and a 12 month high of $35.68.
GAP (NYSE:GPS) last issued its quarterly earnings data on Thursday, March 1st. The apparel retailer reported $0.61 EPS for the quarter, beating the consensus estimate of $0.58 by $0.03. The firm had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $4.68 billion. GAP had a net margin of 5.35% and a return on equity of 28.13%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 earnings per share. equities analysts expect that Gap Inc will post 2.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 2nd. Stockholders of record on Wednesday, April 11th will be paid a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a dividend yield of 3.15%. This is an increase from GAP’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Tuesday, April 10th. GAP’s dividend payout ratio is 43.19%.
A number of research analysts have recently commented on the stock. Royal Bank of Canada set a $35.00 price target on shares of GAP and gave the company a “hold” rating in a research report on Thursday, March 1st. Canaccord Genuity restated a “buy” rating on shares of GAP in a research report on Thursday, December 14th. JPMorgan Chase restated a “neutral” rating and set a $28.00 price target (up from $24.00) on shares of GAP in a research report on Wednesday, February 21st. Wolfe Research downgraded shares of GAP from an “outperform” rating to a “peer perform” rating in a report on Friday, January 26th. Finally, Oppenheimer reaffirmed a “market perform” rating and set a $33.00 price objective on shares of GAP in a report on Thursday, December 14th. Three research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $31.99.
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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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