Gateway Investment Advisers LLC boosted its position in Gap Inc (NYSE:GPS) by 25.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 269,831 shares of the apparel retailer’s stock after acquiring an additional 54,692 shares during the period. Gateway Investment Advisers LLC’s holdings in GAP were worth $7,785,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in GPS. Nikko Asset Management Americas Inc. bought a new position in shares of GAP in the second quarter valued at approximately $634,000. Toronto Dominion Bank lifted its holdings in shares of GAP by 33.0% in the second quarter. Toronto Dominion Bank now owns 157,743 shares of the apparel retailer’s stock valued at $5,108,000 after purchasing an additional 39,138 shares in the last quarter. Opera Trading Capital bought a new position in shares of GAP in the second quarter valued at approximately $227,000. Voya Investment Management LLC lifted its holdings in shares of GAP by 25.3% in the second quarter. Voya Investment Management LLC now owns 2,337,564 shares of the apparel retailer’s stock valued at $75,713,000 after purchasing an additional 472,565 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of GAP by 354.5% in the second quarter. Great West Life Assurance Co. Can now owns 868,454 shares of the apparel retailer’s stock valued at $28,162,000 after purchasing an additional 677,389 shares in the last quarter. Institutional investors and hedge funds own 58.10% of the company’s stock.
Shares of GPS opened at $25.56 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.96 and a quick ratio of 1.02. The company has a market cap of $10.44 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.17 and a beta of 0.64. Gap Inc has a 12 month low of $25.34 and a 12 month high of $35.68.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Wednesday, October 10th will be given a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Tuesday, October 9th. GAP’s payout ratio is 45.54%.
GPS has been the topic of a number of recent research reports. Citigroup upgraded GAP from a “sell” rating to a “neutral” rating and set a $28.00 target price on the stock in a report on Monday, August 27th. They noted that the move was a valuation call. ValuEngine lowered GAP from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Zacks Investment Research upgraded GAP from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Tuesday, July 31st. B. Riley dropped their target price on GAP from $35.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, August 24th. Finally, Barclays set a $39.00 target price on GAP and gave the company a “buy” rating in a report on Saturday, August 25th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $33.17.
GAP Company Profile
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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