World Asset Management Inc decreased its stake in Gap, Inc. (The) (NYSE:GPS) by 14.4% during the second quarter, Holdings Channel reports. The fund owned 22,918 shares of the apparel retailer’s stock after selling 3,852 shares during the period. World Asset Management Inc’s holdings in Gap, Inc. (The) were worth $504,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new position in shares of Gap, Inc. (The) during the first quarter worth $127,000. James Investment Research Inc. bought a new position in shares of Gap, Inc. (The) during the second quarter worth $144,000. Penserra Capital Management LLC raised its position in shares of Gap, Inc. (The) by 9.5% in the first quarter. Penserra Capital Management LLC now owns 5,980 shares of the apparel retailer’s stock worth $145,000 after buying an additional 520 shares in the last quarter. Yorktown Management & Research Co Inc bought a new position in shares of Gap, Inc. (The) during the first quarter worth $211,000. Finally, Foster & Motley Inc. bought a new position in shares of Gap, Inc. (The) during the first quarter worth $217,000. 56.42% of the stock is currently owned by institutional investors and hedge funds.

Gap, Inc. (NYSE GPS) opened at 23.05 on Friday. The stock has a market cap of $9.12 billion, a PE ratio of 13.32 and a beta of 0.87. Gap, Inc. has a 12 month low of $21.02 and a 12 month high of $30.74. The firm has a 50-day moving average of $23.05 and a 200 day moving average of $23.72.

Gap, Inc. (The) (NYSE:GPS) last released its quarterly earnings data on Thursday, May 18th. The apparel retailer reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. Gap, Inc. (The) had a net margin of 4.46% and a return on equity of 29.75%. The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the prior year, the business earned $0.32 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. Analysts anticipate that Gap, Inc. will post $2.00 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.99%. Gap, Inc. (The)’s payout ratio is currently 53.18%.

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A number of brokerages recently weighed in on GPS. TheStreet lowered shares of Gap, Inc. (The) from a “b-” rating to a “c” rating in a research note on Thursday, May 18th. Vetr lowered shares of Gap, Inc. (The) from a “buy” rating to a “hold” rating and set a $24.84 price target on the stock. in a research note on Thursday, April 20th. BMO Capital Markets set a $23.00 price target on shares of Gap, Inc. (The) and gave the company a “hold” rating in a research note on Tuesday. Jefferies Group LLC set a $35.00 price target on shares of Gap, Inc. (The) and gave the company a “buy” rating in a research note on Friday, May 19th. Finally, Oppenheimer Holdings, Inc. raised shares of Gap, Inc. (The) from a “market perform” rating to an “outperform” rating and raised their price target for the company from $24.00 to $28.00 in a research note on Sunday, June 4th. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the stock. Gap, Inc. (The) currently has an average rating of “Hold” and a consensus price target of $25.78.

In other news, CEO Jeff Kirwan sold 5,000 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $24.88, for a total value of $124,400.00. Following the completion of the sale, the chief executive officer now owns 29,548 shares of the company’s stock, valued at $735,154.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 8,000 shares of company stock valued at $192,960 in the last three months. Company insiders own 27.30% of the company’s stock.

Gap, Inc. (The) 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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Institutional Ownership by Quarter for Gap, Inc. (The) (NYSE:GPS)

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