SG Americas Securities LLC Buys 608,587 Shares of Gap Inc (NYSE:GPS)

SG Americas Securities LLC lifted its stake in Gap Inc (NYSE:GPS) by 180.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 946,585 shares of the apparel retailer’s stock after acquiring an additional 608,587 shares during the period. SG Americas Securities LLC owned 0.25% of GAP worth $16,433,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GPS. BlackRock Inc. raised its position in shares of GAP by 6.9% in the 2nd quarter. BlackRock Inc. now owns 21,828,899 shares of the apparel retailer’s stock worth $392,265,000 after acquiring an additional 1,415,944 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of GAP by 691.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,061,116 shares of the apparel retailer’s stock worth $19,068,000 after acquiring an additional 927,119 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of GAP by 43.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,053,569 shares of the apparel retailer’s stock worth $54,873,000 after acquiring an additional 923,316 shares in the last quarter. Invesco Ltd. increased its position in GAP by 14.0% during the 2nd quarter. Invesco Ltd. now owns 7,517,993 shares of the apparel retailer’s stock valued at $135,098,000 after buying an additional 922,167 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its position in GAP by 178.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 654,188 shares of the apparel retailer’s stock valued at $11,756,000 after buying an additional 418,832 shares in the last quarter. 59.75% of the stock is owned by hedge funds and other institutional investors.

GPS has been the topic of several recent analyst reports. Wedbush reaffirmed a “neutral” rating on shares of GAP in a research report on Monday, August 19th. Guggenheim reaffirmed a “hold” rating on shares of GAP in a research report on Thursday, September 12th. ValuEngine lowered GAP from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. MKM Partners set a $18.00 target price on GAP and gave the company a “hold” rating in a research report on Friday, September 13th. Finally, Wells Fargo & Co reaffirmed a “market perform” rating and set a $16.00 target price (down from $20.00) on shares of GAP in a research report on Friday. Seven investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $20.08.

GAP stock traded down $1.38 during trading hours on Friday, hitting $16.68. 26,450,079 shares of the stock traded hands, compared to its average volume of 6,378,166. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.46 and a quick ratio of 0.72. The firm’s 50 day moving average price is $17.10 and its 200-day moving average price is $18.88. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 6.44, a P/E/G ratio of 0.97 and a beta of 0.71. Gap Inc has a 1 year low of $15.11 and a 1 year high of $31.39.

GAP (NYSE:GPS) last posted its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.11. The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.02 billion. GAP had a return on equity of 24.53% and a net margin of 5.71%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.76 EPS. Research analysts forecast that Gap Inc will post 2.06 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Wednesday, October 9th were issued a dividend of $0.243 per share. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 5.83%. This is a boost from GAP’s previous quarterly dividend of $0.24. GAP’s dividend payout ratio is presently 37.45%.

About GAP

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, Intermix, and Hill City 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.

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Institutional Ownership by Quarter for GAP (NYSE:GPS)

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