Andra AP fonden decreased its position in shares of Gap Inc (NYSE:GPS) by 13.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 296,000 shares of the apparel retailer’s stock after selling 46,400 shares during the period. Andra AP fonden owned about 0.08% of GAP worth $8,540,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in GPS. Point72 Asset Management L.P. increased its stake 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 buying an additional 2,365,680 shares during the period. Miller Howard Investments Inc. NY increased its position in shares of GAP by 8,187.8% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 1,949,786 shares of the apparel retailer’s stock worth $63,154,000 after purchasing an additional 1,926,260 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of GAP in the 2nd quarter worth about $42,264,000. Wells Fargo & Company MN increased its position in shares of GAP by 41.9% in the 2nd quarter. Wells Fargo & Company MN now owns 4,137,469 shares of the apparel retailer’s stock worth $134,013,000 after purchasing an additional 1,221,383 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of GAP by 354.5% in the 2nd quarter. Great West Life Assurance Co. Can now owns 868,454 shares of the apparel retailer’s stock worth $28,162,000 after purchasing an additional 677,389 shares during the last quarter. 58.02% of the stock is currently owned by hedge funds and other institutional investors.
NYSE GPS opened at $25.56 on Friday. Gap Inc has a one year low of $25.34 and a one year high of $35.68. The company has a quick ratio of 1.02, a current ratio of 1.96 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $11.10 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 1.24 and a beta of 0.64.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Wednesday, October 10th will be issued a $0.2425 dividend. This represents a $0.97 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Tuesday, October 9th. GAP’s dividend payout ratio (DPR) is presently 45.54%.
Several research firms have recently weighed in on GPS. JPMorgan Chase & Co. downgraded shares of GAP from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $30.00 to $24.00 in a research report on Thursday. Wedbush set a $25.00 target price on shares of GAP and gave the stock a “neutral” rating in a research report on Thursday, October 11th. ValuEngine downgraded shares of GAP from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Citigroup raised shares of GAP from a “sell” rating to a “neutral” rating and set a $28.00 target price for the company in a research report on Monday, August 27th. They noted that the move was a valuation call. Finally, Barclays set a $39.00 target price on shares of GAP and gave the stock a “buy” rating in a research report on Saturday, August 25th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $33.17.
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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