Pictet Asset Management Ltd. Has $3.79 Million Position in Gap, Inc. (The) (GPS)

Pictet Asset Management Ltd. decreased its stake in shares of Gap, Inc. (The) (NYSE:GPS) by 7.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 128,390 shares of the apparel retailer’s stock after selling 10,251 shares during the period. Pictet Asset Management Ltd.’s holdings in Gap, Inc. (The) were worth $3,791,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in GPS. FMR LLC boosted its position in shares of Gap, Inc. (The) by 91.3% during the first quarter. FMR LLC now owns 161,761 shares of the apparel retailer’s stock valued at $3,929,000 after buying an additional 77,185 shares during the last quarter. HighTower Advisors LLC boosted its position in 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 purchasing an additional 1,966 shares during the last quarter. Xact Kapitalforvaltning AB boosted its position in Gap, Inc. (The) by 8.0% in the second quarter. Xact Kapitalforvaltning AB now owns 29,517 shares of the apparel retailer’s stock worth $649,000 after purchasing an additional 2,186 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Gap, Inc. (The) by 2.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 18,320 shares of the apparel retailer’s stock valued at $402,000 after buying an additional 380 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. lifted its position in shares of Gap, Inc. (The) by 0.3% during the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 190,910 shares of the apparel retailer’s stock valued at $4,198,000 after buying an additional 509 shares during the last quarter. 56.78% of the stock is currently owned by institutional investors.

Shares of Gap, Inc. (NYSE GPS) opened at $27.23 on Monday. Gap, Inc. has a fifty-two week low of $21.02 and a fifty-two week high of $30.74. The stock has a market cap of $10,678.48, a PE ratio of 13.28, a price-to-earnings-growth ratio of 1.65 and a beta of 0.86. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.77 and a quick ratio of 0.92.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 3rd will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Tuesday, January 2nd. Gap, Inc. (The)’s payout ratio is currently 43.81%.

In other news, Director William Sydney Fisher sold 666,849 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $27.99, for a total value of $18,665,103.51. Following the transaction, the director now directly owns 12,237,873 shares in the company, valued at approximately $342,538,065.27. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeff Kirwan sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $29.38, for a total transaction of $29,380.00. Following the completion of the transaction, the chief executive officer now owns 25,268 shares in the company, valued at $742,373.84. The disclosure for this sale can be found here. Insiders sold 676,682 shares of company stock valued at $18,906,180 in the last three months. Company insiders own 27.30% of the company’s stock.

A number of analysts recently issued reports on GPS shares. Barclays PLC started coverage on Gap, Inc. (The) in a research note on Tuesday, September 19th. They set an “overweight” rating and a $32.00 price objective on the stock. Zacks Investment Research upgraded Gap, Inc. (The) from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Thursday, September 21st. Oppenheimer Holdings, Inc. set a $28.00 price objective on Gap, Inc. (The) and gave the stock a “buy” rating in a report on Thursday, August 17th. Jefferies Group LLC set a $35.00 price objective on Gap, Inc. (The) and gave the stock a “buy” rating in a report on Wednesday, August 16th. Finally, Deutsche Bank AG upped their price objective on Gap, Inc. (The) from $23.00 to $24.00 and gave the stock a “hold” rating in a report on Friday, August 18th. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $26.86.

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Gap, Inc. (The) 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.

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

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