Geode Capital Management LLC decreased its holdings in shares of Gap Inc (NYSE:GPS) by 21.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,804,882 shares of the apparel retailer’s stock after selling 767,874 shares during the period. Geode Capital Management LLC’s holdings in GAP were worth $95,366,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. San Francisco Sentry Investment Group CA grew its stake in shares of GAP by 543.3% during the fourth quarter. San Francisco Sentry Investment Group CA now owns 3,493 shares of the apparel retailer’s stock valued at $119,000 after buying an additional 2,950 shares during the last quarter. Cerebellum GP LLC bought a new position in shares of GAP during the fourth quarter valued at approximately $130,000. Acropolis Investment Management LLC grew its stake in shares of GAP by 115.4% during the fourth quarter. Acropolis Investment Management LLC now owns 4,185 shares of the apparel retailer’s stock valued at $143,000 after buying an additional 2,242 shares during the last quarter. Mariner Wealth Advisors LLC bought a new position in shares of GAP during the fourth quarter valued at approximately $203,000. Finally, IFG Advisory LLC bought a new position in shares of GAP during the fourth quarter valued at approximately $205,000. 58.72% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Sonia Syngal sold 28,846 shares of the stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $33.10, for a total transaction of $954,802.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Dara Bazzano sold 4,066 shares of the stock in a transaction on Monday, March 5th. The shares were sold at an average price of $34.00, for a total value of $138,244.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 646,033 shares of company stock valued at $22,126,526. 27.30% of the stock is owned by company insiders.
GAP (NYSE:GPS) last posted its earnings results on Thursday, March 1st. The apparel retailer reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. The company had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.68 billion. GAP had a return on equity of 28.13% and a net margin of 5.35%. GAP’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 earnings per share. equities analysts forecast that Gap Inc will post 2.62 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 2nd. Shareholders of record on Wednesday, April 11th will be issued a dividend of $0.2425 per share. The ex-dividend date is Tuesday, April 10th. This represents a $0.97 dividend on an annualized basis and a yield of 2.93%. This is a positive change from GAP’s previous quarterly dividend of $0.23. GAP’s dividend payout ratio is currently 42.99%.
A number of research analysts have recently commented on GPS shares. Robert W. Baird set a $28.00 target price on GAP and gave the company a “hold” rating in a research note on Friday, November 17th. Oppenheimer reaffirmed a “market perform” rating and set a $33.00 target price on shares of GAP in a research note on Thursday, December 14th. Cowen set a $38.00 target price on GAP and gave the company a “hold” rating in a research note on Thursday, March 1st. Zacks Investment Research raised GAP from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Thursday, January 18th. Finally, Deutsche Bank cut their target price on GAP from $33.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, February 26th. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $31.80.
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GAP Company 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.
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