Haverford Trust Co. reduced its position in shares of Gap Inc (NYSE:GPS) by 98.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,234 shares of the apparel retailer’s stock after selling 1,450,245 shares during the period. Haverford Trust Co.’s holdings in GAP were worth $403,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of GAP by 0.7% during the second quarter. Vanguard Group Inc. now owns 28,829,631 shares of the apparel retailer’s stock valued at $518,068,000 after purchasing an additional 210,846 shares in the last quarter. BlackRock Inc. lifted its position in shares of GAP by 6.9% during the second quarter. BlackRock Inc. now owns 21,828,899 shares of the apparel retailer’s stock valued at $392,265,000 after purchasing an additional 1,415,944 shares in the last quarter. Invesco Ltd. lifted its position in shares of GAP by 14.0% during the second quarter. Invesco Ltd. now owns 7,517,993 shares of the apparel retailer’s stock valued at $135,098,000 after purchasing an additional 922,167 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of GAP by 43.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,053,569 shares of the apparel retailer’s stock valued at $54,873,000 after purchasing an additional 923,316 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of GAP by 17.3% during the second quarter. Wells Fargo & Company MN now owns 2,312,790 shares of the apparel retailer’s stock valued at $41,561,000 after purchasing an additional 341,672 shares in the last quarter. 59.75% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on the stock. ValuEngine lowered shares of GAP from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Jefferies Financial Group set a $37.00 price objective on shares of GAP and gave the stock a “buy” rating in a research report on Friday, September 13th. Royal Bank of Canada lowered their price objective on shares of GAP from $19.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Friday. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $16.00 price objective (down previously from $20.00) on shares of GAP in a research report on Friday. Finally, Telsey Advisory Group lowered shares of GAP from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $24.00 to $19.00 in a research report on Friday. Seven analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $20.08.
GPS stock traded down $1.38 during mid-day trading on Friday, hitting $16.68. The company had a trading volume of 26,215,485 shares, compared to its average volume of 6,378,166. The firm has a market cap of $6.74 billion, a PE ratio of 6.44, a price-to-earnings-growth ratio of 0.97 and a beta of 0.71. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.72 and a current ratio of 1.46. Gap Inc has a 12 month low of $15.11 and a 12 month high of $31.39. The stock’s fifty day moving average price is $17.09 and its two-hundred day moving average price is $18.84.
GAP (NYSE:GPS) last announced its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $0.63 EPS for the quarter, topping the consensus estimate of $0.52 by $0.11. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.02 billion. GAP had a net margin of 5.71% and a return on equity of 24.53%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 earnings per share. Equities analysts anticipate that Gap Inc will post 2.06 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Wednesday, October 9th were paid a $0.243 dividend. This is an increase from GAP’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $0.97 annualized dividend and a dividend yield of 5.83%. GAP’s dividend payout ratio (DPR) is presently 37.45%.
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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