Cornerstone Capital Management Holdings LLC. lifted its stake in shares of Gap Inc (NYSE:GPS) by 54.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,002,660 shares of the apparel retailer’s stock after purchasing an additional 351,803 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in GAP were worth $34,149,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Elkfork Partners LLC bought a new position in GAP in the 4th quarter worth about $2,134,000. TIAA CREF Investment Management LLC increased its stake in GAP by 32.5% in the 4th quarter. TIAA CREF Investment Management LLC now owns 5,231,621 shares of the apparel retailer’s stock worth $178,189,000 after acquiring an additional 1,283,314 shares during the last quarter. Hanseatic Management Services Inc. bought a new position in GAP in the 4th quarter worth about $295,000. HBK Investments L P increased its stake in GAP by 48.6% in the 4th quarter. HBK Investments L P now owns 45,443 shares of the apparel retailer’s stock worth $1,548,000 after acquiring an additional 14,852 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in GAP by 7.1% in the 4th quarter. California State Teachers Retirement System now owns 461,515 shares of the apparel retailer’s stock worth $15,719,000 after acquiring an additional 30,530 shares during the last quarter. Institutional investors own 58.72% of the company’s stock.
In other GAP news, CEO Jeff Kirwan sold 101,820 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $33.73, for a total value of $3,434,388.60. Following the completion of the sale, the chief executive officer now owns 101,820 shares in the company, valued at approximately $3,434,388.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder John J. Fisher sold 500,000 shares of the stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $34.43, for a total value of $17,215,000.00. Following the completion of the sale, the insider now owns 2,319,396 shares of the company’s stock, valued at approximately $79,856,804.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 696,033 shares of company stock valued at $23,754,526. Company insiders own 27.30% of the company’s stock.
GAP (NYSE:GPS) last released its quarterly earnings data on Thursday, March 1st. The apparel retailer reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.03. GAP had a return on equity of 28.13% and a net margin of 5.35%. The business had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same quarter last year, the business posted $0.51 EPS. The business’s revenue was up 7.9% on a year-over-year basis. equities analysts predict that Gap Inc will post 2.63 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 2nd. Shareholders of record on Wednesday, April 11th will be issued a $0.2425 dividend. The ex-dividend date of this dividend is Tuesday, April 10th. This represents a $0.97 annualized dividend and a yield of 2.97%. This is a boost from GAP’s previous quarterly dividend of $0.23. GAP’s dividend payout ratio (DPR) is 42.99%.
Several brokerages have recently commented on GPS. Oppenheimer increased their price objective on GAP from $30.00 to $33.00 in a research report on Friday, March 9th. Nomura increased their price objective on GAP from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, March 5th. TheStreet upgraded GAP from a “c+” rating to a “b” rating in a research report on Thursday, March 1st. MKM Partners set a $35.00 price objective on GAP and gave the company a “hold” rating in a research report on Friday, March 2nd. Finally, B. Riley reiterated a “neutral” rating and set a $35.00 price objective (up from $29.00) on shares of GAP in a research report on Friday, March 2nd. Three analysts have rated the stock with a sell rating, twenty have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $31.99.
COPYRIGHT VIOLATION NOTICE: This article was reported by Ticker Report and is owned by of Ticker Report. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this article can be accessed at https://www.tickerreport.com/banking-finance/3261258/cornerstone-capital-management-holdings-llc-has-34-15-million-position-in-gap-inc-gps.html.
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.
Want to see what other hedge funds are holding GPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gap Inc (NYSE:GPS).
Receive News & Ratings for GAP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GAP and related companies with MarketBeat.com's FREE daily email newsletter.