Keybank National Association OH lowered its holdings in Gap Inc (NYSE:GPS) by 21.2% during the 3rd quarter, Holdings Channel reports. The firm owned 11,154 shares of the apparel retailer’s stock after selling 3,008 shares during the period. Keybank National Association OH’s holdings in GAP were worth $194,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of GPS. BlackRock Inc. boosted its position in GAP by 6.9% in the second quarter. BlackRock Inc. now owns 21,828,899 shares of the apparel retailer’s stock worth $392,265,000 after purchasing an additional 1,415,944 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of GAP by 691.9% in the second quarter. Nuveen Asset Management LLC now owns 1,061,116 shares of the apparel retailer’s stock valued at $19,068,000 after buying an additional 927,119 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of GAP by 43.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,053,569 shares of the apparel retailer’s stock valued at $54,873,000 after buying an additional 923,316 shares during the period. Invesco Ltd. raised its stake in shares of GAP by 14.0% in the second quarter. Invesco Ltd. now owns 7,517,993 shares of the apparel retailer’s stock valued at $135,098,000 after buying an additional 922,167 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in shares of GAP by 178.0% in the second quarter. Teacher Retirement System of Texas now owns 654,188 shares of the apparel retailer’s stock valued at $11,756,000 after buying an additional 418,832 shares during the period. 59.86% of the stock is currently owned by institutional investors and hedge funds.
NYSE:GPS opened at $17.74 on Friday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.72 and a current ratio of 1.46. Gap Inc has a 52-week low of $15.11 and a 52-week high of $31.39. The firm has a market cap of $6.44 billion, a price-to-earnings ratio of 7.52, a PEG ratio of 1.08 and a beta of 0.71. The business’s fifty day moving average is $17.05 and its 200 day moving average is $18.58.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 5.47%. GAP’s payout ratio is 37.45%.
Several analysts have issued reports on the company. ValuEngine upgraded GAP from a “sell” rating to a “hold” rating in a research note on Thursday. B. Riley set a $21.00 target price on GAP and gave the company a “hold” rating in a research note on Friday, September 13th. Wells Fargo & Co restated a “market perform” rating and issued a $16.00 target price (down from $20.00) on shares of GAP in a research note on Friday, November 8th. Guggenheim restated a “hold” rating on shares of GAP in a research note on Thursday, September 12th. Finally, Credit Suisse Group lowered GAP from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $20.00 to $14.00 in a research note on Friday, October 18th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $19.07.
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, Intermix, and Hill City 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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