Huntington National Bank maintained its position in Gap Inc. (NYSE:GPS) during the second quarter, Holdings Channel reports. The institutional investor owned 3,427 shares of the apparel retailer’s stock at the end of the second quarter. Huntington National Bank’s holdings in Gap were worth $149,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Americafirst Capital Management LLC purchased a new position in shares of Gap during the second quarter valued at approximately $139,000. Beddow Capital Management Inc. purchased a new position in shares of Gap during the first quarter valued at approximately $226,000. Commonwealth Equity Services Inc purchased a new position in shares of Gap during the first quarter valued at approximately $287,000. Sigma Planning Corp purchased a new position in shares of Gap during the second quarter valued at approximately $216,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Gap during the first quarter valued at approximately $308,000. 57.42% of the stock is owned by institutional investors.
Gap Inc. (NYSE:GPS) traded up 15.23% during trading on Friday, hitting $26.25. 31,862,161 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $23.88 and its 200 day moving average price is $23.05. The firm has a market cap of $10.46 billion, a price-to-earnings ratio of 14.79 and a beta of 1.28. Gap Inc. has a 12-month low of $17.00 and a 12-month high of $30.49.
Gap (NYSE:GPS) last released its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. Gap had a net margin of 4.60% and a return on equity of 33.26%. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same period last year, the business earned $0.64 EPS. The company’s revenue was down 1.2% compared to the same quarter last year. Equities analysts forecast that Gap Inc. will post ($0.01) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Monday, October 3rd. Gap’s dividend payout ratio (DPR) is presently 51.98%.
Several brokerages have commented on GPS. Guggenheim reissued a “hold” rating on shares of Gap in a report on Saturday, July 9th. MKM Partners reissued a “hold” rating and issued a $21.00 price target on shares of Gap in a report on Saturday, July 9th. Wedbush reissued a “hold” rating on shares of Gap in a report on Saturday, July 9th. Jefferies Group reissued a “buy” rating on shares of Gap in a report on Saturday, July 9th. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Gap in a report on Saturday, July 9th. Six research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.90.
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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