Oregon Public Employees Retirement Fund Boosts Stake in Gap Inc. (GPS)
Oregon Public Employees Retirement Fund increased its stake in shares of Gap Inc. (NYSE:GPS) by 39.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,680 shares of the apparel retailer’s stock after buying an additional 39,407 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Gap were worth $3,106,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Levin Capital Strategies L.P. acquired a new position in shares of Gap during the second quarter worth $53,595,000. Emerald Acquisition Ltd. acquired a new position in shares of Gap during the second quarter worth $36,750,000. Bank of Montreal Can acquired a new position in shares of Gap during the second quarter worth $29,343,000. Prudential Financial Inc. raised its position in shares of Gap by 99.4% in the second quarter. Prudential Financial Inc. now owns 2,432,145 shares of the apparel retailer’s stock worth $51,610,000 after buying an additional 1,212,479 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Gap by 7.4% in the second quarter. JPMorgan Chase & Co. now owns 13,531,075 shares of the apparel retailer’s stock worth $287,129,000 after buying an additional 936,648 shares in the last quarter. Institutional investors own 58.00% of the company’s stock.
Shares of Gap Inc. (NYSE:GPS) traded down 0.94% during trading on Tuesday, hitting $25.24. 5,922,323 shares of the stock traded hands. Gap Inc. has a 52-week low of $17.00 and a 52-week high of $30.74. The firm has a market cap of $10.07 billion, a price-to-earnings ratio of 15.02 and a beta of 1.06. The stock has a 50 day moving average of $26.98 and a 200 day moving average of $23.57.
Gap (NYSE:GPS) last posted its earnings results on Thursday, November 17th. The apparel retailer reported $0.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.60. Gap had a return on equity of 32.19% and a net margin of 4.33%. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. Analysts expect that Gap Inc. will post $1.94 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Wednesday, January 4th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, December 30th. This represents a $0.92 annualized dividend and a yield of 3.65%. Gap’s dividend payout ratio (DPR) is presently 55.09%.
A number of brokerages have recently issued reports on GPS. Jefferies Group set a $32.00 price target on shares of Gap and gave the stock a “buy” rating in a report on Saturday, October 8th. Cowen and Company set a $25.00 price target on shares of Gap and gave the stock a “hold” rating in a report on Saturday, November 19th. BMO Capital Markets reissued a “hold” rating on shares of Gap in a report on Saturday, November 19th. Vetr downgraded shares of Gap from a “buy” rating to a “hold” rating and set a $25.82 price target on the stock. in a report on Tuesday. Finally, Morgan Stanley reissued an “underweight” rating on shares of Gap in a report on Tuesday. Four equities research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $24.84.
In other Gap news, President Jeff Kirwan sold 11,406 shares of Gap stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $25.38, for a total value of $289,484.28. Following the transaction, the president now owns 19,094 shares in the company, valued at $484,605.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul Joseph Chapman sold 6,764 shares of the business’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $24.99, for a total value of $169,032.36. The disclosure for this sale can be found here. 30.00% of the stock is owned by company insiders.
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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