Gap, Inc. (The) (GPS) Shares Sold by Morningstar Investment Services LLC
Morningstar Investment Services LLC trimmed its stake in shares of Gap, Inc. (The) (NYSE:GPS) by 52.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,499 shares of the apparel retailer’s stock after selling 11,499 shares during the quarter. Morningstar Investment Services LLC’s holdings in Gap, Inc. (The) were worth $310,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Norinchukin Bank The increased its position in Gap, Inc. (The) by 16.9% during the 3rd quarter. Norinchukin Bank The now owns 17,865 shares of the apparel retailer’s stock worth $528,000 after purchasing an additional 2,588 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Gap, Inc. (The) by 1.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 348,522 shares of the apparel retailer’s stock worth $10,292,000 after purchasing an additional 5,562 shares in the last quarter. AE Wealth Management LLC acquired a new position in Gap, Inc. (The) during the 3rd quarter worth approximately $223,000. Stephens Inc. AR increased its position in Gap, Inc. (The) by 21.9% during the 3rd quarter. Stephens Inc. AR now owns 18,400 shares of the apparel retailer’s stock worth $543,000 after purchasing an additional 3,303 shares in the last quarter. Finally, Manning & Napier Advisors LLC increased its position in Gap, Inc. (The) by 2.8% during the 3rd quarter. Manning & Napier Advisors LLC now owns 113,806 shares of the apparel retailer’s stock worth $3,360,000 after purchasing an additional 3,122 shares in the last quarter. Institutional investors and hedge funds own 57.67% of the company’s stock.
Shares of Gap, Inc. (NYSE:GPS) opened at $29.64 on Friday. The company has a current ratio of 1.73, a quick ratio of 0.77 and a debt-to-equity ratio of 0.41. Gap, Inc. has a 1-year low of $21.02 and a 1-year high of $30.14. The firm has a market cap of $11,342.96, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 1.74 and a beta of 0.86.
Gap, Inc. (The) (NYSE:GPS) last posted its quarterly earnings data on Thursday, November 16th. The apparel retailer reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.03. Gap, Inc. (The) had a net margin of 5.57% and a return on equity of 27.47%. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same period in the prior year, the firm posted $0.60 EPS. The company’s quarterly revenue was up 1.1% on a year-over-year basis. equities analysts predict that Gap, Inc. will post 2.1 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 3rd will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Tuesday, January 2nd. Gap, Inc. (The)’s dividend payout ratio is currently 42.40%.
In other news, CEO Jeff Kirwan sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $26.11, for a total value of $26,110.00. Following the sale, the chief executive officer now directly owns 24,268 shares of the company’s stock, valued at approximately $633,637.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William Sydney Fisher sold 666,849 shares of the company’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $27.99, for a total transaction of $18,665,103.51. Following the completion of the sale, the director now directly owns 12,237,873 shares in the company, valued at $342,538,065.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 672,426 shares of company stock worth $18,813,667. Insiders own 27.30% of the company’s stock.
GPS has been the subject of a number of research analyst reports. Barclays PLC initiated coverage on shares of Gap, Inc. (The) in a research report on Tuesday, September 19th. They set an “overweight” rating and a $32.00 price objective for the company. Robert W. Baird set a $28.00 price objective on shares of Gap, Inc. (The) and gave the stock a “hold” rating in a research report on Friday, November 17th. Zacks Investment Research upgraded shares of Gap, Inc. (The) from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Thursday, September 21st. Oppenheimer Holdings, Inc. set a $28.00 price objective on shares of Gap, Inc. (The) and gave the stock a “buy” rating in a research report on Thursday, August 17th. Finally, Jefferies Group LLC set a $35.00 price objective on shares of Gap, Inc. (The) and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Three equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $27.74.
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About Gap, Inc. (The)
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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