Baird Financial Group Inc. Decreases Position in Gap Inc (GPS)

Baird Financial Group Inc. cut its stake in Gap Inc (NYSE:GPS) by 4.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,255 shares of the apparel retailer’s stock after selling 4,820 shares during the period. Baird Financial Group Inc.’s holdings in Gap were worth $2,314,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Yorktown Management & Research Co Inc purchased a new stake in Gap during the first quarter valued at about $211,000. Foster & Motley Inc. purchased a new stake in Gap during the first quarter valued at about $217,000. Folger Hill Asset Management LP purchased a new stake in Gap during the fourth quarter valued at about $225,000. ARP Americas LLC purchased a new stake in Gap during the fourth quarter valued at about $227,000. Finally, Private Advisor Group LLC raised its stake in Gap by 15.0% in the fourth quarter. Private Advisor Group LLC now owns 10,547 shares of the apparel retailer’s stock valued at $250,000 after buying an additional 1,378 shares during the period. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Institutional Ownership by Quarter for Gap (NYSE:GPS)

Shares of Gap Inc (NYSE:GPS) traded down 3.92% during mid-day trading on Friday, reaching $22.28. 19,770,130 shares of the company’s stock traded hands. Gap Inc has a one year low of $17.31 and a one year high of $30.74. The firm’s 50-day moving average is $24.97 and its 200 day moving average is $24.74. The firm has a market cap of $8.91 billion, a price-to-earnings ratio of 13.18 and a beta of 0.99. Gap also was the recipient of some unusual options trading activity on Thursday. Traders acquired 31,496 put options on the company. This represents an increase of 695% compared to the typical daily volume of 3,964 put options.

Gap (NYSE:GPS) last posted its quarterly earnings data on Thursday, May 18th. The apparel retailer reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. Gap had a net margin of 4.33% and a return on equity of 32.19%. The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period last year, the firm posted $0.32 EPS. Gap’s quarterly revenue was up .1% on a year-over-year basis. Analysts predict that Gap Inc will post $1.99 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Wednesday, July 5th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, June 30th. This represents a $0.92 dividend on an annualized basis and a yield of 3.97%. Gap’s dividend payout ratio (DPR) is 55.09%.

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Several research firms have recently issued reports on GPS. Vetr upgraded shares of Gap from a “sell” rating to a “hold” rating and set a $24.84 target price for the company in a report on Monday. FBR & Co set a $28.00 price objective on shares of Gap and gave the company a “hold” rating in a report on Friday. Jefferies Group LLC set a $34.00 price objective on shares of Gap and gave the company a “buy” rating in a report on Saturday, February 25th. BMO Capital Markets set a $28.00 price objective on shares of Gap and gave the company a “hold” rating in a report on Thursday. Finally, Wedbush lifted their price objective on shares of Gap from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, February 7th. Three research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Gap presently has an average rating of “Hold” and a consensus price target of $25.71.

In related news, CEO Jeff Kirwan sold 5,000 shares of Gap stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $24.88, for a total value of $124,400.00. Following the transaction, the chief executive officer now directly owns 29,548 shares in the company, valued at approximately $735,154.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert J. Fisher sold 500,000 shares of Gap stock in a transaction on Friday, March 31st. The shares were sold at an average price of $24.58, for a total transaction of $12,290,000.00. Following the completion of the transaction, the director now owns 8,867,728 shares in the company, valued at $217,968,754.24. The disclosure for this sale can be found here. Company insiders own 30.00% of the company’s stock.

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.

5 Day Chart for NYSE:GPS

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