Gap Inc. (GPS) Stake Maintained by Eaton Vance Management
Eaton Vance Management held its position in Gap Inc. (NYSE:GPS) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 176,853 shares of the apparel retailer’s stock at the end of the second quarter. Eaton Vance Management’s holdings in Gap were worth $3,753,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Gap during the fourth quarter worth approximately $80,703,000. Lazard Asset Management LLC raised its position in shares of Gap by 25,265.6% in the first quarter. Lazard Asset Management LLC now owns 2,020,625 shares of the apparel retailer’s stock worth $59,406,000 after buying an additional 2,012,659 shares during the period. Emerald Acquisition Ltd. bought a new position in shares of Gap during the second quarter worth approximately $36,750,000. Bank of Montreal Can bought a new position in shares of Gap during the second quarter worth approximately $29,343,000. Finally, NN Investment Partners Holdings N.V. bought a new position in shares of Gap during the first quarter worth approximately $40,444,000. Institutional investors own 57.50% of the company’s stock.
Gap Inc. (NYSE:GPS) traded down 2.46% during mid-day trading on Tuesday, reaching $22.61. 3,852,798 shares of the company were exchanged. The company has a market capitalization of $9.01 billion, a PE ratio of 12.74 and a beta of 1.17. Gap Inc. has a one year low of $17.00 and a one year high of $32.00. The stock has a 50-day moving average price of $24.88 and a 200 day moving average price of $23.68.
Gap (NYSE:GPS) last released its earnings results on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.01. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.79 billion. Gap had a net margin of 4.60% and a return on equity of 33.26%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. Analysts predict that Gap Inc. will post ($0.01) EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Monday, October 3rd. Gap’s dividend payout ratio is presently 51.98%.
A number of research analysts recently commented on GPS shares. Credit Suisse Group AG reiterated a “sell” rating and issued a $21.00 price target on shares of Gap in a research note on Sunday, June 5th. Jefferies Group reiterated a “buy” rating on shares of Gap in a research note on Monday, August 29th. Vetr lowered shares of Gap from a “hold” rating to a “sell” rating and set a $23.22 price target on the stock. in a research note on Thursday, July 21st. FBR & Co reiterated a “market perform” rating and issued a $22.00 price target on shares of Gap in a research note on Wednesday, July 6th. Finally, Wolfe Research upgraded shares of Gap from a “market perform” rating to an “outperform” rating in a research note on Friday, June 17th. Seven investment analysts have rated the stock with a sell rating, twenty-six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Gap presently has an average rating of “Hold” and a consensus price target of $24.94.
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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