Gap Inc. (GPS) Short Interest Update
Gap Inc. (NYSE:GPS) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totalling 39,533,883 shares, an increase of 9.2% from the September 15th total of 36,187,856 shares. Currently, 18.1% of the company’s stock are sold short. Based on an average daily volume of 4,751,336 shares, the short-interest ratio is currently 8.3 days.
Several hedge funds and other institutional investors have recently made changes to their positions in GPS. Levin Capital Strategies L.P. purchased a new position in shares of Gap during the second quarter valued at $53,595,000. Lazard Asset Management LLC increased 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 valued at $59,406,000 after buying an additional 2,012,659 shares during the period. Emerald Acquisition Ltd. purchased a new position in shares of Gap during the second quarter valued at $36,750,000. Bank of Montreal Can purchased a new position in shares of Gap during the second quarter valued at $29,343,000. Finally, Prudential Financial Inc. increased 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 valued at $51,610,000 after buying an additional 1,212,479 shares during the period. Institutional investors and hedge funds own 57.42% of the company’s stock.
Shares of Gap (NYSE:GPS) opened at 26.45 on Monday. The firm has a market capitalization of $10.54 billion, a price-to-earnings ratio of 14.90 and a beta of 1.28. Gap has a 52 week low of $17.00 and a 52 week high of $30.49. The company’s 50-day moving average is $23.85 and its 200 day moving average is $23.00.
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Gap (NYSE:GPS) last released its quarterly earnings data on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.01. Gap had a net margin of 4.60% and a return on equity of 33.26%. The company earned $3.85 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. Analysts anticipate that Gap will post ($0.01) EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be paid a $0.23 dividend. The ex-dividend date is Monday, October 3rd. This represents a $0.92 annualized dividend and a dividend yield of 3.48%. Gap’s dividend payout ratio (DPR) is presently 51.98%.
A number of equities analysts have recently issued reports on GPS shares. Oppenheimer Holdings Inc. reaffirmed a “” rating and set a $20.00 price target on shares of Gap in a research report on Monday, August 22nd. Vetr downgraded Gap from a “strong-buy” rating to a “buy” rating and set a $23.68 price target on the stock. in a research report on Thursday, June 30th. Jefferies Group reaffirmed a “buy” rating on shares of Gap in a research report on Saturday, July 9th. Canaccord Genuity reaffirmed a “buy” rating on shares of Gap in a research report on Wednesday, August 17th. Finally, MKM Partners reissued a “hold” rating and issued a $21.00 target price on shares of Gap in a research report on Saturday, July 9th. Six research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $25.29.
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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