Gap, Inc. (The) (NYSE:GPS) Shares Sold by Janus Capital Management LLC
Janus Capital Management LLC lowered its position in Gap, Inc. (The) (NYSE:GPS) by 9.9% during the first quarter, Holdings Channel reports. The fund owned 161,263 shares of the apparel retailer’s stock after selling 17,723 shares during the period. Janus Capital Management LLC’s holdings in Gap, Inc. (The) were worth $3,917,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. HighTower Advisors LLC raised its stake in shares of Gap, Inc. (The) by 17.3% in the first quarter. HighTower Advisors LLC now owns 13,320 shares of the apparel retailer’s stock worth $319,000 after buying an additional 1,966 shares during the last quarter. Credit Suisse AG raised its stake in shares of Gap, Inc. (The) by 13.3% in the first quarter. Credit Suisse AG now owns 731,016 shares of the apparel retailer’s stock worth $17,757,000 after buying an additional 85,918 shares during the last quarter. PVG Asset Management Corp bought a new stake in shares of Gap, Inc. (The) during the first quarter worth approximately $3,496,000. Gotham Asset Management LLC raised its stake in shares of Gap, Inc. (The) by 16.1% in the first quarter. Gotham Asset Management LLC now owns 1,137,240 shares of the apparel retailer’s stock worth $27,624,000 after buying an additional 157,900 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Gap, Inc. (The) by 7.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,329,569 shares of the apparel retailer’s stock worth $32,296,000 after buying an additional 91,414 shares during the last quarter. Institutional investors and hedge funds own 56.65% of the company’s stock.
Shares of Gap, Inc. (NYSE GPS) opened at 23.28 on Monday. Gap, Inc. has a 12-month low of $21.02 and a 12-month high of $30.74. The company has a market cap of $9.21 billion, a P/E ratio of 13.46 and a beta of 0.86. The firm has a 50-day moving average of $22.83 and a 200-day moving average of $23.85.
Gap, Inc. (The) (NYSE:GPS) last announced its earnings results on Thursday, May 18th. The apparel retailer reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07. Gap, Inc. (The) had a net margin of 4.46% and a return on equity of 29.75%. The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period in the previous year, the business posted $0.32 earnings per share. Gap, Inc. (The)’s revenue for the quarter was up .1% on a year-over-year basis. Analysts predict that Gap, Inc. will post $2.00 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Wednesday, July 5th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, June 30th. This represents a $0.92 annualized dividend and a yield of 3.95%. Gap, Inc. (The)’s payout ratio is presently 53.18%.
A number of brokerages recently commented on GPS. BidaskClub upgraded shares of Gap, Inc. (The) from a “sell” rating to a “hold” rating in a report on Sunday. J P Morgan Chase & Co restated a “neutral” rating and set a $27.00 price objective (up from $26.00) on shares of Gap, Inc. (The) in a report on Friday. BMO Capital Markets set a $23.00 price objective on shares of Gap, Inc. (The) and gave the stock a “hold” rating in a report on Thursday, July 6th. CIBC upgraded shares of Gap, Inc. (The) from a “market perform” rating to an “outperform” rating in a report on Monday, June 5th. Finally, Oppenheimer Holdings, Inc. upgraded shares of Gap, Inc. (The) from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $24.00 to $28.00 in a report on Sunday, June 4th. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and seven have issued a buy rating to the stock. Gap, Inc. (The) presently has a consensus rating of “Hold” and an average target price of $25.78.
In other Gap, Inc. (The) news, CEO Jeff Kirwan sold 5,000 shares of Gap, Inc. (The) stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $24.88, for a total transaction of $124,400.00. Following the completion of the sale, the chief executive officer now directly owns 29,548 shares in the company, valued at $735,154.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 7,000 shares of company stock valued at $169,120. 27.30% of the stock is currently owned by company insiders.
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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