Harvest Capital Strategies LLC lessened its stake in Gap Inc (NYSE:GPS) by 47.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 450,000 shares of the apparel retailer’s stock after selling 400,000 shares during the period. GAP accounts for 2.7% of Harvest Capital Strategies LLC’s portfolio, making the stock its 8th largest holding. Harvest Capital Strategies LLC owned about 0.12% of GAP worth $15,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the stock. Chevy Chase Trust Holdings Inc. grew its holdings in GAP by 1.0% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 192,812 shares of the apparel retailer’s stock worth $5,694,000 after acquiring an additional 1,902 shares during the period. Hermes Investment Management Ltd. grew its holdings in GAP by 7.3% during the 4th quarter. Hermes Investment Management Ltd. now owns 29,252 shares of the apparel retailer’s stock worth $996,000 after acquiring an additional 2,000 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in GAP by 0.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 728,655 shares of the apparel retailer’s stock worth $21,517,000 after acquiring an additional 2,093 shares during the period. Acropolis Investment Management LLC grew its holdings in 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 acquiring an additional 2,242 shares during the period. Finally, Piedmont Investment Advisors LLC grew its holdings in GAP by 1.9% during the 3rd quarter. Piedmont Investment Advisors LLC now owns 125,492 shares of the apparel retailer’s stock worth $3,706,000 after acquiring an additional 2,357 shares during the period. Hedge funds and other institutional investors own 58.72% of the company’s stock.
Gap Inc (NYSE:GPS) opened at $32.86 on Wednesday. The firm has a market cap of $12,541.36, a price-to-earnings ratio of 15.27, a P/E/G ratio of 1.53 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 Inc has a one year low of $21.02 and a one year high of $35.68.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 2nd. Investors of record on Wednesday, April 11th will be paid a $0.2425 dividend. The ex-dividend date of this dividend is Tuesday, April 10th. This is a positive change from GAP’s previous quarterly dividend of $0.23. This represents a $0.97 dividend on an annualized basis and a yield of 2.95%. GAP’s dividend payout ratio is presently 42.99%.
In other GAP news, VP Dara Bazzano sold 4,066 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $34.00, for a total transaction of $138,244.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jeff Kirwan sold 50,000 shares of the business’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $32.56, for a total transaction of $1,628,000.00. Following the sale, the chief executive officer now directly owns 50,000 shares in the company, valued at $1,628,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 696,033 shares of company stock valued at $23,754,526. Company insiders own 27.30% of the company’s stock.
A number of analysts have commented on GPS shares. Royal Bank of Canada lifted their target price on shares of GAP from $26.00 to $28.00 and gave the stock a “sector perform” rating in a report on Friday, November 17th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $32.00 target price (up previously from $31.00) on shares of GAP in a report on Friday, March 2nd. Zacks Investment Research raised shares of GAP from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a report on Monday, March 5th. Guggenheim reaffirmed a “hold” rating on shares of GAP in a report on Friday, March 2nd. Finally, Robert W. Baird set a $35.00 target price on shares of GAP and gave the stock a “hold” rating in a report on Friday, December 22nd. Three investment 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. The company presently has a consensus rating of “Hold” and an average price target of $31.99.
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.
Receive News & Ratings for GAP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GAP and related companies with MarketBeat.com's FREE daily email newsletter.