Stone Ridge Asset Management LLC bought a new position in shares of Gap Inc (NYSE:GPS) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 95,693 shares of the apparel retailer’s stock, valued at approximately $3,259,000.
Other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in GAP by 10.6% during the third quarter. Bank of New York Mellon Corp now owns 10,710,283 shares of the apparel retailer’s stock worth $316,275,000 after purchasing an additional 1,030,160 shares during the period. Great West Life Assurance Co. Can boosted its position in GAP by 12.0% during the third quarter. Great West Life Assurance Co. Can now owns 440,893 shares of the apparel retailer’s stock worth $12,992,000 after purchasing an additional 47,102 shares during the period. California Public Employees Retirement System boosted its position in GAP by 4.2% during the third quarter. California Public Employees Retirement System now owns 893,708 shares of the apparel retailer’s stock worth $26,391,000 after purchasing an additional 36,083 shares during the period. Bristol Advisors LLC bought a new stake in GAP during the fourth quarter worth approximately $2,384,000. Finally, BlackRock Inc. lifted its holdings in shares of GAP by 5.0% during the fourth quarter. BlackRock Inc. now owns 17,130,343 shares of the apparel retailer’s stock worth $583,458,000 after buying an additional 810,280 shares during the last quarter. 58.72% of the stock is owned by hedge funds and other institutional investors.
In other GAP news, EVP Brent Hyder sold 5,839 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $33.04, for a total value of $192,920.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Dara Bazzano sold 4,066 shares of the company’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $34.00, for a total value of $138,244.00. The disclosure for this sale can be found here. Insiders sold 646,033 shares of company stock worth $22,126,526 over the last quarter. Company insiders own 27.30% of the company’s stock.
Shares of Gap Inc (NYSE GPS) opened at $33.07 on Monday. 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 $12,864.23, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 1.58 and a beta of 0.88. 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 (NYSE:GPS) last announced its quarterly earnings results on Thursday, March 1st. The apparel retailer reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. GAP had a return on equity of 28.13% and a net margin of 5.35%. The firm had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $4.68 billion. During the same period in the prior year, the business posted $0.51 earnings per share. The business’s revenue was up 7.9% compared to the same quarter last year. equities research analysts anticipate that Gap Inc will post 2.62 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 2nd. Shareholders of record on Wednesday, April 11th will be given a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 2.93%. This is a boost from GAP’s previous quarterly dividend of $0.23. The ex-dividend date is Tuesday, April 10th. GAP’s dividend payout ratio is 42.99%.
GAP 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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