Brandywine Global Investment Management LLC raised its position in Gap Inc (NYSE:GPS) by 3,548.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 306,811 shares of the apparel retailer’s stock after purchasing an additional 298,402 shares during the period. Brandywine Global Investment Management LLC owned about 0.08% of GAP worth $10,450,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. San Francisco Sentry Investment Group CA grew 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 stake in GAP in the fourth quarter valued at $130,000. Acropolis Investment Management LLC grew its holdings in GAP by 115.4% in the fourth quarter. Acropolis Investment Management LLC now owns 4,185 shares of the apparel retailer’s stock valued at $143,000 after purchasing an additional 2,242 shares during the last quarter. Mariner Wealth Advisors LLC acquired a new stake in GAP in the fourth quarter valued at $203,000. Finally, Squar Milner Financial Services LLC acquired a new stake in GAP in the fourth quarter valued at $210,000. 58.72% of the stock is currently owned by institutional investors.
Several research firms have weighed in on GPS. KeyCorp reissued an “overweight” rating on shares of GAP in a report on Friday, November 17th. Canaccord Genuity reissued a “buy” rating on shares of GAP in a report on Thursday, December 14th. Royal Bank of Canada set a $35.00 target price on GAP and gave the company a “hold” rating in a report on Thursday, March 1st. Barclays upped their target price on GAP from $21.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, March 2nd. Finally, Nomura upped their target price on GAP from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, November 17th. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $31.99.
GAP (NYSE:GPS) last released its earnings results on Thursday, March 1st. The apparel retailer reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the prior 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 predict that Gap Inc will post 2.62 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 2nd. Stockholders 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 2.97%. This is an increase from GAP’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Tuesday, April 10th. GAP’s dividend payout ratio (DPR) is 42.79%.
In other news, CEO Jeff Kirwan sold 50,000 shares of the firm’s 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 transaction, the chief executive officer now directly owns 50,000 shares in the company, valued at approximately $1,628,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Dara Bazzano sold 4,066 shares of the firm’s stock in a transaction dated Monday, March 5th. The stock was 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. Over the last 90 days, insiders sold 696,033 shares of company stock worth $23,754,526. Company insiders own 27.30% of the company’s stock.
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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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