Cognios Capital LLC purchased a new position in Gap Inc (NYSE:GPS) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 55,347 shares of the apparel retailer’s stock, valued at approximately $1,596,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CSat Investment Advisory L.P. purchased a new position in GAP during the second quarter worth $148,000. Squar Milner Financial Services LLC purchased a new position in GAP during the second quarter worth $196,000. Titus Wealth Management purchased a new position in GAP during the second quarter worth $201,000. LFA Lugano Financial Advisors SA purchased a new position in GAP during the second quarter worth $202,000. Finally, Cornerstone Wealth Management LLC purchased a new position in GAP during the third quarter worth $204,000. 58.10% of the stock is owned by institutional investors.
GPS has been the subject of several recent analyst reports. Citigroup raised shares of GAP from a “sell” rating to a “neutral” rating and set a $28.00 price objective for the company in a research note on Monday, August 27th. They noted that the move was a valuation call. ValuEngine lowered shares of GAP from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Zacks Investment Research raised shares of GAP from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Tuesday, July 31st. JPMorgan Chase & Co. lowered shares of GAP from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $30.00 to $24.00 in a research note on Thursday, October 18th. Finally, B. Riley dropped their price objective on shares of GAP from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, August 24th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have issued a buy rating to the stock. GAP presently has an average rating of “Hold” and a consensus price target of $32.72.
Shares of GPS opened at $27.91 on Friday. The firm has a market cap of $10.50 billion, a PE ratio of 13.10, a P/E/G ratio of 1.18 and a beta of 0.70. Gap Inc has a 12-month low of $25.27 and a 12-month high of $35.68. The company has a quick ratio of 1.02, a current ratio of 1.96 and a debt-to-equity ratio of 0.37.
GAP (NYSE:GPS) last issued its earnings results on Thursday, August 23rd. The apparel retailer reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.04. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. GAP had a net margin of 5.43% and a return on equity of 29.25%. The business’s revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 earnings per share. Analysts predict that Gap Inc will post 2.58 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Wednesday, October 10th were paid a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date was Tuesday, October 9th. GAP’s dividend payout ratio (DPR) is presently 45.54%.
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, and Intermix 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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