Municipal Employees Retirement System of Michigan boosted its position in Gap, Inc. (The) (NYSE:GPS) by 105.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,250 shares of the apparel retailer’s stock after buying an additional 7,320 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Gap, Inc. (The) were worth $313,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GPS. Stephens Inc. AR increased its position in shares of Gap, Inc. (The) by 0.4% in the first quarter. Stephens Inc. AR now owns 14,596 shares of the apparel retailer’s stock worth $355,000 after buying an additional 59 shares during the period. Advantus Capital Management Inc increased its position in shares of Gap, Inc. (The) by 0.4% in the first quarter. Advantus Capital Management Inc now owns 21,962 shares of the apparel retailer’s stock worth $533,000 after buying an additional 89 shares during the period. Private Advisor Group LLC increased its position in shares of Gap, Inc. (The) by 1.5% in the first quarter. Private Advisor Group LLC now owns 10,700 shares of the apparel retailer’s stock worth $245,000 after buying an additional 153 shares during the period. Arizona State Retirement System increased its position in shares of Gap, Inc. (The) by 0.3% in the first quarter. Arizona State Retirement System now owns 74,243 shares of the apparel retailer’s stock worth $1,803,000 after buying an additional 200 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in shares of Gap, Inc. (The) by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 13,700 shares of the apparel retailer’s stock worth $301,000 after buying an additional 200 shares during the period. 55.68% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Gap, Inc. (NYSE:GPS) opened at 23.59 on Wednesday. Gap, Inc. has a 12 month low of $21.02 and a 12 month high of $30.74. The company has a market capitalization of $9.25 billion, a PE ratio of 11.24 and a beta of 0.87. The stock’s 50 day moving average price is $23.19 and its 200 day moving average price is $23.70.

Gap, Inc. (The) (NYSE:GPS) last issued its quarterly earnings results on Thursday, August 17th. The apparel retailer reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.77 billion. Gap, Inc. (The) had a return on equity of 28.50% and a net margin of 5.42%. Gap, Inc. (The)’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 earnings per share. On average, analysts forecast that Gap, Inc. will post $2.06 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 3.90%. Gap, Inc. (The)’s dividend payout ratio is currently 43.81%.

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A number of equities analysts recently weighed in on GPS shares. CIBC raised shares of Gap, Inc. (The) from a “market perform” rating to an “outperform” rating in a report on Monday, June 5th. Oppenheimer Holdings, Inc. set a $28.00 price target on shares of Gap, Inc. (The) and gave the stock a “buy” rating in a report on Thursday, August 17th. Zacks Investment Research downgraded shares of Gap, Inc. (The) from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Vetr raised shares of Gap, Inc. (The) from a “sell” rating to a “hold” rating and set a $24.84 price target on the stock in a report on Monday, May 15th. Finally, ValuEngine downgraded shares of 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 assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $25.67.

In other Gap, Inc. (The) news, EVP Paul Joseph Chapman sold 4,898 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $22.82, for a total transaction of $111,772.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 7,898 shares of company stock worth $180,332 in the last quarter. 27.30% of the stock is currently owned by company insiders.

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.

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

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