Teacher Retirement System of Texas boosted its position in Gap Inc. (NYSE:GPS) by 43.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,138 shares of the apparel retailer’s stock after buying an additional 20,223 shares during the period. Teacher Retirement System of Texas’ holdings in Gap were worth $1,425,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. SkyBridge Capital II LLC purchased a new stake in Gap during the second quarter worth $11,229,000. Victory Capital Management Inc. increased its stake in Gap by 22.0% in the second quarter. Victory Capital Management Inc. now owns 76,378 shares of the apparel retailer’s stock worth $1,621,000 after buying an additional 13,759 shares during the period. JPMorgan Chase & Co. increased its stake in Gap by 7.4% in the second quarter. JPMorgan Chase & Co. now owns 13,531,075 shares of the apparel retailer’s stock worth $287,129,000 after buying an additional 936,648 shares during the period. Advisors Asset Management Inc. increased its stake in Gap by 24.1% in the second quarter. Advisors Asset Management Inc. now owns 56,063 shares of the apparel retailer’s stock worth $1,190,000 after buying an additional 10,876 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Gap by 7.2% in the second quarter. Ameriprise Financial Inc. now owns 131,107 shares of the apparel retailer’s stock worth $2,782,000 after buying an additional 8,821 shares during the period. 57.42% of the stock is owned by institutional investors.
Gap Inc. (NYSE:GPS) opened at 22.62 on Friday. The firm has a 50-day moving average price of $24.60 and a 200-day moving average price of $23.57. Gap Inc. has a 1-year low of $17.00 and a 1-year high of $31.21. The company has a market capitalization of $9.01 billion, a P/E ratio of 12.74 and a beta of 1.17.
Gap (NYSE:GPS) last released its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. Gap had a return on equity of 33.26% and a net margin of 4.60%. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the company posted $0.64 EPS. The business’s revenue was down 1.2% on a year-over-year basis. On average, analysts forecast that Gap Inc. will post ($0.01) EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be given a $0.23 dividend. The ex-dividend date is Monday, October 3rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.07%. Gap’s dividend payout ratio (DPR) is presently 51.98%.
A number of research firms have recently weighed in on GPS. RBC Capital Markets set a $23.00 price target on Gap and gave the stock a “hold” rating in a research note on Tuesday, September 13th. Jefferies Group reissued a “buy” rating on shares of Gap in a report on Monday, September 12th. Wedbush reissued a “neutral” rating and set a $25.00 price objective on shares of Gap in a report on Sunday, September 4th. Cowen and Company reissued a “market perform” rating and set a $25.00 price objective on shares of Gap in a report on Sunday, September 4th. Finally, Deutsche Bank AG reissued a “sell” rating on shares of Gap in a report on Friday, September 2nd. Seven equities research analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Gap has an average rating of “Hold” and an average price target of $24.94.
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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