Robeco Institutional Asset Management B.V. trimmed its holdings in Gap Inc (NYSE:GPS) by 26.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,025,819 shares of the apparel retailer’s stock after selling 370,876 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.27% of GAP worth $18,434,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Bremer Bank National Association purchased a new stake in shares of GAP in the first quarter worth approximately $29,000. NuWave Investment Management LLC grew its stake in GAP by 11,075.0% in the first quarter. NuWave Investment Management LLC now owns 2,235 shares of the apparel retailer’s stock worth $58,000 after purchasing an additional 2,215 shares in the last quarter. Legacy Advisors LLC acquired a new stake in shares of GAP in the 1st quarter worth $88,000. Parallel Advisors LLC boosted its position in shares of GAP by 103.5% in the 1st quarter. Parallel Advisors LLC now owns 3,623 shares of the apparel retailer’s stock worth $95,000 after purchasing an additional 1,843 shares in the last quarter. Finally, Quantamental Technologies LLC acquired a new stake in shares of GAP in the 1st quarter worth $137,000. Hedge funds and other institutional investors own 57.02% of the company’s stock.
Shares of GPS stock traded up $0.08 during trading on Friday, hitting $18.04. 5,370,970 shares of the stock traded hands, compared to its average volume of 5,536,216. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of 6.97, a P/E/G ratio of 0.97 and a beta of 0.71. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.49 and a quick ratio of 0.70. Gap Inc has a 52-week low of $17.12 and a 52-week high of $32.98. The firm’s fifty day moving average price is $18.43.
GAP (NYSE:GPS) last released its quarterly earnings data on Thursday, May 30th. The apparel retailer reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.07). GAP had a net margin of 6.46% and a return on equity of 26.73%. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the company earned $0.42 EPS. The business’s revenue was down 2.0% on a year-over-year basis. On average, equities analysts forecast that Gap Inc will post 2.05 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th were paid a $0.2425 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $0.97 annualized dividend and a yield of 5.38%. GAP’s dividend payout ratio is presently 37.45%.
In other GAP news, EVP Julie Gruber sold 3,286 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $24.00, for a total value of $78,864.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mcneil S. Fiske, Jr. sold 16,183 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $18.00, for a total transaction of $291,294.00. Following the completion of the transaction, the chief executive officer now owns 32,500 shares of the company’s stock, valued at approximately $585,000. The disclosure for this sale can be found here. Corporate insiders own 37.60% of the company’s stock.
A number of analysts have recently weighed in on GPS shares. Bank of America reissued an “underperform” rating and issued a $15.00 price objective (down previously from $24.00) on shares of GAP in a research report on Friday, May 31st. B. Riley reduced their target price on GAP from $30.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Nomura reduced their target price on GAP from $22.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. MKM Partners reduced their target price on GAP from $33.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, June 11th. Finally, TheStreet lowered GAP from a “b-” rating to a “c+” rating in a research note on Thursday, June 13th. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. GAP has an average rating of “Hold” and an average price target of $24.73.
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, Intermix, and Hill City 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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