Nicholas Investment Partners LP purchased a new position in Gap Inc (NYSE:GPS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 229,278 shares of the apparel retailer’s stock, valued at approximately $7,809,000. Nicholas Investment Partners LP owned about 0.06% of GAP at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. San Francisco Sentry Investment Group CA boosted its holdings in GAP by 543.3% in the fourth quarter. San Francisco Sentry Investment Group CA now owns 3,493 shares of the apparel retailer’s stock valued at $119,000 after purchasing an additional 2,950 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of GAP during the 4th quarter worth about $130,000. Acropolis Investment Management LLC raised its position in shares of GAP by 115.4% during the 4th quarter. Acropolis Investment Management LLC now owns 4,185 shares of the apparel retailer’s stock worth $143,000 after purchasing an additional 2,242 shares during the last quarter. Mariner Wealth Advisors LLC acquired a new position in shares of GAP during the 4th quarter worth about $203,000. Finally, IFG Advisory LLC acquired a new stake in GAP in the 4th quarter valued at about $205,000. 58.72% of the stock is currently owned by institutional investors and hedge funds.
Gap Inc (GPS) traded down $0.25 on Wednesday, reaching $32.42. 3,056,257 shares of the company’s stock were exchanged, compared to its average volume of 6,080,000. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.86 and a quick ratio of 1.04. Gap Inc has a 1 year low of $21.02 and a 1 year high of $35.68. The firm has a market capitalization of $12,610.00, a P/E ratio of 15.08, a P/E/G ratio of 1.53 and a beta of 0.88.
GAP (NYSE:GPS) last released its quarterly earnings results on Thursday, March 1st. The apparel retailer reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.03. GAP had a return on equity of 28.13% and a net margin of 5.35%. The business had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same period in the previous year, the business posted $0.51 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. analysts forecast that Gap Inc will post 2.63 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 2nd. Investors of record on Wednesday, April 11th will be issued a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.99%. This is a boost from GAP’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Tuesday, April 10th. GAP’s payout ratio is currently 42.79%.
Several analysts have recently weighed in on GPS shares. Credit Suisse Group assumed coverage on shares of GAP in a research note on Monday. They issued a “neutral” rating and a $35.00 price target for the company. Oppenheimer increased their target price on shares of GAP from $30.00 to $33.00 in a report on Friday, March 9th. Nomura raised their price objective on shares of GAP from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Monday, March 5th. Zacks Investment Research upgraded shares of GAP from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Monday, March 5th. Finally, TheStreet raised shares of GAP from a “c+” rating to a “b” rating in a research report on Thursday, March 1st. Three research analysts have rated the stock with a sell rating, twenty have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $31.99.
In related news, CEO Jeff Kirwan sold 50,000 shares of GAP stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $32.56, for a total value of $1,628,000.00. Following the completion of the transaction, the chief executive officer now directly owns 50,000 shares of the company’s stock, valued at $1,628,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sonia Syngal sold 28,846 shares of GAP stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $33.10, for a total value of $954,802.60. The disclosure for this sale can be found here. Insiders sold 696,033 shares of company stock valued at $23,754,526 over the last ninety days. 27.30% of the stock is currently 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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