Renaissance Technologies LLC acquired a new stake in shares of Gap Inc (NYSE:GPS) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,664,400 shares of the apparel retailer’s stock, valued at approximately $56,689,000. Renaissance Technologies LLC owned about 0.43% of GAP as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. San Francisco Sentry Investment Group CA boosted its stake in shares of GAP by 543.3% during 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 acquiring an additional 2,950 shares during the last quarter. Cerebellum GP LLC acquired a new stake in shares of GAP during the fourth quarter valued at $130,000. Acropolis Investment Management LLC boosted its stake in shares of GAP by 115.4% during the fourth quarter. Acropolis Investment Management LLC now owns 4,185 shares of the apparel retailer’s stock valued at $143,000 after acquiring an additional 2,242 shares during the last quarter. Mariner Wealth Advisors LLC acquired a new stake in shares of GAP during the fourth quarter valued at $203,000. Finally, IFG Advisory LLC acquired a new stake in shares of GAP during the fourth quarter valued at $205,000. 58.72% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently commented on the company. Oppenheimer increased their price objective on GAP from $30.00 to $33.00 in a research note on Friday, March 9th. Nomura raised their price target on GAP from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, March 5th. TheStreet raised GAP from a “c+” rating to a “b” rating in a research note on Thursday, March 1st. MKM Partners set a $35.00 price target on GAP and gave the stock a “hold” rating in a research note on Friday, March 2nd. Finally, B. Riley reissued a “neutral” rating and issued a $35.00 price target (up from $29.00) on shares of GAP in a research note on Friday, March 2nd. Three analysts have rated the stock with a sell rating, twenty have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $31.99.
GAP (NYSE:GPS) last released its quarterly earnings data on Thursday, March 1st. The apparel retailer reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.03. The business had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.68 billion. GAP had a return on equity of 28.13% and a net margin of 5.35%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 EPS. sell-side analysts anticipate that Gap Inc will post 2.63 earnings per share 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 paid a $0.2425 dividend. This is a positive change from GAP’s previous quarterly dividend of $0.23. This represents a $0.97 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Tuesday, April 10th. GAP’s payout ratio is currently 42.99%.
In related news, Director Brian Goldner bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were acquired at an average cost of $33.75 per share, for a total transaction of $168,750.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at approximately $168,750. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Dara Bazzano sold 4,066 shares of the firm’s stock in a transaction dated 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 a total of 696,033 shares of company stock worth $23,754,526 over the last ninety days. Corporate insiders own 27.30% of the company’s stock.
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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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