Advisory Services Network LLC increased its stake in Gap Inc. (NYSE:GPS) by 22.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,869 shares of the apparel retailer’s stock after buying an additional 1,062 shares during the period. Advisory Services Network LLC’s holdings in Gap were worth $125,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Americafirst Capital Management LLC bought a new position in shares of Gap during the second quarter valued at $139,000. Beddow Capital Management Inc. acquired a new position in Gap during the first quarter worth approximately $226,000. Commonwealth Equity Services Inc acquired a new position in Gap during the first quarter worth approximately $287,000. Sigma Planning Corp acquired a new position in Gap during the second quarter worth approximately $216,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Gap during the first quarter worth approximately $308,000. Institutional investors and hedge funds own 57.42% of the company’s stock.
Gap Inc. (NYSE:GPS) traded up 0.53% during mid-day trading on Tuesday, reaching $26.56. 4,406,453 shares of the company’s stock traded hands. The company has a 50-day moving average of $23.86 and a 200-day moving average of $22.94. Gap Inc. has a 52-week low of $17.00 and a 52-week high of $30.49. The company has a market capitalization of $10.58 billion, a price-to-earnings ratio of 14.96 and a beta of 1.28.
Gap (NYSE:GPS) last issued its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. The company earned $3.85 billion during the quarter, compared to analyst estimates of $3.79 billion. Gap had a net margin of 4.60% and a return on equity of 33.26%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. Equities research analysts expect that Gap Inc. will post ($0.01) EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Monday, October 3rd. Gap’s dividend payout ratio is currently 51.98%.
GPS has been the topic of a number of recent analyst reports. Oppenheimer Holdings Inc. reiterated a “” rating and issued a $20.00 price objective on shares of Gap in a report on Monday, August 22nd. Vetr cut Gap from a “strong-buy” rating to a “buy” rating and set a $23.68 price objective on the stock. in a report on Thursday, June 30th. Jefferies Group reiterated a “buy” rating on shares of Gap in a report on Saturday, July 9th. Canaccord Genuity reiterated a “buy” rating on shares of Gap in a report on Wednesday, August 17th. Finally, MKM Partners reiterated a “hold” rating and issued a $21.00 price objective on shares of Gap in a report on Saturday, July 9th. Six equities research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and five have given a buy rating to the company. Gap presently has an average rating of “Hold” and a consensus target price of $25.17.
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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