Gap Inc (GPS) Holdings Increased by AMP Capital Investors Ltd
AMP Capital Investors Ltd grew its holdings in shares of Gap Inc (NYSE:GPS) by 51.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 304,355 shares of the apparel retailer’s stock after acquiring an additional 102,766 shares during the period. AMP Capital Investors Ltd owned 0.08% of GAP worth $8,729,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of GPS. Point72 Asset Management L.P. grew its holdings in GAP by 626.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,743,079 shares of the apparel retailer’s stock worth $88,848,000 after acquiring an additional 2,365,680 shares during the period. Marshall Wace LLP acquired a new stake in GAP during the 2nd quarter worth about $42,264,000. Wells Fargo & Company MN grew its holdings in GAP by 41.9% during the 2nd quarter. Wells Fargo & Company MN now owns 4,137,469 shares of the apparel retailer’s stock worth $134,013,000 after acquiring an additional 1,221,383 shares during the period. Bank of New York Mellon Corp grew its holdings in GAP by 5.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 12,602,613 shares of the apparel retailer’s stock worth $363,586,000 after acquiring an additional 701,959 shares during the period. Finally, SPX Equities Gestao de Recursos Ltda acquired a new stake in GAP during the 3rd quarter worth about $20,206,136,100,000. Hedge funds and other institutional investors own 56.60% of the company’s stock.
A number of brokerages have weighed in on GPS. Citigroup upgraded GAP from a “sell” rating to a “neutral” rating and set a $28.00 price target for the company in a report on Monday, August 27th. They noted that the move was a valuation call. B. Riley reiterated a “neutral” rating on shares of GAP in a report on Wednesday, November 7th. Wedbush set a $25.00 target price on GAP and gave the company a “neutral” rating in a research note on Thursday, October 11th. Zacks Investment Research downgraded GAP from a “buy” rating to a “hold” rating in a research note on Tuesday, August 21st. Finally, Telsey Advisory Group reduced their target price on GAP from $39.00 to $34.00 and set an “outperform” rating for the company in a research note on Wednesday, November 21st. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $31.30.
GAP (NYSE:GPS) last announced its quarterly earnings results on Tuesday, November 20th. The apparel retailer reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.01. GAP had a net margin of 5.57% and a return on equity of 29.45%. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same quarter last year, the firm earned $0.58 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, sell-side analysts expect that Gap Inc will post 2.56 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 30th. Investors of record on Wednesday, January 9th will be given a $0.2425 dividend. The ex-dividend date is Tuesday, January 8th. This represents a $0.97 annualized dividend and a yield of 3.51%. GAP’s payout ratio is 45.54%.
GAP Company Profile
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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