Affinity Investment Advisors LLC trimmed its stake in shares of Gap Inc (NYSE:GPS) by 31.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 90,312 shares of the apparel retailer’s stock after selling 40,512 shares during the quarter. Affinity Investment Advisors LLC’s holdings in GAP were worth $2,326,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of GAP by 5.4% during the 3rd quarter. Vanguard Group Inc. now owns 27,822,458 shares of the apparel retailer’s stock valued at $802,678,000 after acquiring an additional 1,433,737 shares during the period. Vanguard Group Inc lifted its position in shares of GAP by 5.4% during the 3rd quarter. Vanguard Group Inc now owns 27,822,458 shares of the apparel retailer’s stock valued at $802,678,000 after acquiring an additional 1,433,737 shares during the period. Bank of New York Mellon Corp lifted its position in shares of GAP by 5.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 12,602,613 shares of the apparel retailer’s stock valued at $363,586,000 after acquiring an additional 701,959 shares during the period. AQR Capital Management LLC lifted its position in shares of GAP by 456.0% during the 3rd quarter. AQR Capital Management LLC now owns 9,883,253 shares of the apparel retailer’s stock worth $285,132,000 after buying an additional 8,105,713 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of GAP by 4.1% during the 3rd quarter. Wells Fargo & Company MN now owns 4,306,449 shares of the apparel retailer’s stock worth $124,241,000 after buying an additional 168,980 shares during the last quarter. Hedge funds and other institutional investors own 56.74% of the company’s stock.
Several analysts recently weighed in on GPS shares. JPMorgan Chase & Co. downgraded GAP from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $30.00 to $24.00 in a research report on Thursday, October 18th. Standpoint Research upgraded GAP from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Friday, October 19th. Goldman Sachs Group started coverage on GAP in a research report on Thursday, October 25th. They set a “neutral” rating and a $28.00 price objective for the company. Royal Bank of Canada dropped their price objective on GAP to $30.00 and set a “positive” rating for the company in a research report on Thursday, November 1st. Finally, ValuEngine downgraded GAP from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company’s stock. GAP presently has an average rating of “Hold” and an average price target of $30.75.
Shares of GPS opened at $24.84 on Tuesday. Gap Inc has a 12-month low of $24.25 and a 12-month high of $34.71. The company has a quick ratio of 0.85, a current ratio of 1.97 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $9.50 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.04 and a beta of 0.61.
GAP (NYSE:GPS) last issued its earnings results on Tuesday, November 20th. The apparel retailer reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. GAP had a return on equity of 29.45% and a net margin of 5.57%. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same quarter in the prior year, the firm earned $0.58 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, research analysts forecast that Gap Inc will post 2.56 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 30th. Shareholders of record on Wednesday, January 9th were issued a $0.2425 dividend. The ex-dividend date was Tuesday, January 8th. This represents a $0.97 dividend on an annualized basis and a yield of 3.90%. GAP’s payout ratio is presently 45.54%.
In other GAP news, EVP Julie Gruber sold 7,500 shares of the company’s stock in a transaction dated Wednesday, January 16th. The stock was sold at an average price of $24.73, for a total value of $185,475.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 30.60% of the stock is owned by corporate insiders.
TRADEMARK VIOLATION NOTICE: This report was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another publication, it was stolen and republished in violation of United States & international copyright & trademark laws. The original version of this report can be viewed at https://www.americanbankingnews.com/2019/02/12/gap-inc-gps-stake-decreased-by-affinity-investment-advisors-llc.html.
The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, and Intermix brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.
Featured Story: Understanding Specialty Certificates of Deposit
Want to see what other hedge funds are holding GPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gap Inc (NYSE:GPS).
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.