CIBC Asset Management Inc boosted its stake in Gap, Inc. (The) (NYSE:GPS) by 2.6% during the second quarter, Holdings Channel reports. The fund owned 33,727 shares of the apparel retailer’s stock after buying an additional 863 shares during the period. CIBC Asset Management Inc’s holdings in Gap, Inc. (The) were worth $742,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Gap, Inc. (The) by 4,968.6% in the first quarter. BlackRock Inc. now owns 22,738,113 shares of the apparel retailer’s stock valued at $552,308,000 after buying an additional 22,289,507 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Gap, Inc. (The) by 8.8% in the first quarter. Vanguard Group Inc. now owns 23,100,485 shares of the apparel retailer’s stock valued at $561,111,000 after buying an additional 1,876,653 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Gap, Inc. (The) by 161.2% in the first quarter. Prudential Financial Inc. now owns 1,257,992 shares of the apparel retailer’s stock valued at $30,556,000 after buying an additional 776,400 shares during the last quarter. NN Investment Partners Holdings N.V. raised its position in shares of Gap, Inc. (The) by 36.6% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,605,366 shares of the apparel retailer’s stock valued at $57,291,000 after buying an additional 697,881 shares during the last quarter. Finally, WINTON GROUP Ltd raised its position in shares of Gap, Inc. (The) by 78.7% in the first quarter. WINTON GROUP Ltd now owns 1,150,829 shares of the apparel retailer’s stock valued at $25,594,000 after buying an additional 506,686 shares during the last quarter. Institutional investors own 57.30% of the company’s stock.

Gap, Inc. (NYSE GPS) opened at 23.10 on Tuesday. Gap, Inc. has a one year low of $21.02 and a one year high of $30.74. The stock has a market cap of $9.14 billion, a P/E ratio of 13.35 and a beta of 0.87. The stock’s 50 day moving average price is $23.12 and its 200-day moving average price is $23.71.

Gap, Inc. (The) (NYSE:GPS) last posted its quarterly earnings results on Thursday, May 18th. The apparel retailer reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.07. The company had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.39 billion. Gap, Inc. (The) had a return on equity of 29.75% and a net margin of 4.46%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 EPS. On average, analysts predict that Gap, Inc. will post $2.00 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend is Tuesday, October 3rd. Gap, Inc. (The)’s dividend payout ratio (DPR) is currently 53.18%.

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Several analysts recently issued reports on GPS shares. TheStreet downgraded Gap, Inc. (The) from a “b-” rating to a “c” rating in a report on Thursday, May 18th. Oppenheimer Holdings, Inc. raised Gap, Inc. (The) from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $24.00 to $28.00 in a report on Sunday, June 4th. Morgan Stanley reissued an “underperform” rating and issued a $20.00 price target on shares of Gap, Inc. (The) in a report on Monday, May 22nd. Jefferies Group LLC set a $34.00 price target on Gap, Inc. (The) and gave the stock a “buy” rating in a report on Thursday, May 4th. Finally, ValuEngine downgraded Gap, Inc. (The) from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have assigned a buy rating to the company. Gap, Inc. (The) presently has a consensus rating of “Hold” and an average target price of $25.78.

Gap, Inc. (The) 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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Institutional Ownership by Quarter for Gap, Inc. (The) (NYSE:GPS)

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