QS Investors LLC Lowers Stake in Gap Inc (GPS)
QS Investors LLC cut its holdings in Gap Inc (NYSE:GPS) by 29.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,227 shares of the apparel retailer’s stock after selling 3,083 shares during the quarter. QS Investors LLC’s holdings in GAP were worth $187,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Bremer Trust National Association acquired a new stake in GAP in the fourth quarter worth about $29,000. Parallel Advisors LLC grew its position in shares of GAP by 387.7% during the 4th quarter. Parallel Advisors LLC now owns 1,780 shares of the apparel retailer’s stock worth $45,000 after buying an additional 1,415 shares during the period. FTB Advisors Inc. grew its position in shares of GAP by 258.2% during the 4th quarter. FTB Advisors Inc. now owns 2,672 shares of the apparel retailer’s stock worth $68,000 after buying an additional 1,926 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of GAP during the 3rd quarter worth about $111,000. Finally, First Mercantile Trust Co. grew its position in shares of GAP by 50.9% during the 4th quarter. First Mercantile Trust Co. now owns 4,210 shares of the apparel retailer’s stock worth $109,000 after buying an additional 1,420 shares during the period. Institutional investors own 57.89% of the company’s stock.
GPS has been the subject of several analyst reports. MKM Partners decreased their target price on GAP to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, November 28th. Barclays lowered GAP from an “overweight” rating to an “underweight” rating and set a $25.25 target price for the company. in a research report on Friday, January 11th. Goldman Sachs Group lowered GAP from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $27.00 to $23.00 in a research report on Tuesday, January 22nd. Zacks Investment Research lowered GAP from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. Finally, ValuEngine lowered GAP from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 7th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $29.33.
GAP (NYSE:GPS) last released its quarterly earnings data on Thursday, February 28th. The apparel retailer reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.04. GAP had a return on equity of 29.65% and a net margin of 6.05%. During the same quarter in the previous year, the firm posted $0.61 EPS. As a group, equities analysts expect that Gap Inc will post 2.49 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a dividend yield of 3.96%. The ex-dividend date is Tuesday, April 9th. GAP’s dividend payout ratio (DPR) is presently 37.45%.
In other news, EVP Julie Gruber sold 7,500 shares of GAP stock in a transaction dated Wednesday, January 16th. The stock was sold at an average price of $24.73, for a total transaction of $185,475.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sonia Syngal sold 11,764 shares of GAP stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $26.51, for a total value of $311,863.64. The disclosure for this sale can be found here. Insiders own 30.60% of the company’s stock.
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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, and Intermix 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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