Tobam Decreases Stake in Gap Inc (GPS)

Tobam decreased its position in Gap Inc (NYSE:GPS) by 2.9% during the first quarter, Holdings Channel reports. The fund owned 1,707,453 shares of the apparel retailer’s stock after selling 51,718 shares during the period. Gap makes up about 1.6% of Tobam’s portfolio, making the stock its 26th largest position. Tobam’s holdings in Gap were worth $41,474,000 as of its most recent SEC filing.

Several 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 worth $211,000. Foster & Motley Inc. purchased a new stake in Gap during the first quarter worth $217,000. Folger Hill Asset Management LP purchased a new stake in Gap during the fourth quarter worth $225,000. ARP Americas LLC purchased a new stake in Gap during the fourth quarter worth $227,000. Finally, Private Advisor Group LLC increased 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 worth $250,000 after buying an additional 1,378 shares during the last quarter. Institutional investors own 57.87% of the company’s stock.

Institutional Ownership by Quarter for Gap (NYSE:GPS)

Gap Inc (NYSE:GPS) traded down 3.92% during mid-day trading on Friday, reaching $22.28. The company’s stock had a trading volume of 19,770,130 shares. The company has a market cap of $8.91 billion, a price-to-earnings ratio of 13.18 and a beta of 0.99. Gap Inc has a 52-week low of $17.72 and a 52-week high of $30.74. The firm has a 50 day moving average price of $24.91 and a 200 day moving average price of $24.70. Gap also was the recipient of unusually large options trading activity on Thursday. Traders bought 31,496 put options on the stock. This is an increase of approximately 695% compared to the average volume of 3,964 put options.

Gap (NYSE:GPS) last posted its earnings results on Thursday, May 18th. The apparel retailer reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $3.39 billion. During the same quarter last year, the firm earned $0.32 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. Equities research analysts anticipate that Gap Inc will post $1.99 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Wednesday, July 5th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, June 30th. This represents a $0.92 annualized dividend and a dividend yield of 3.97%. Gap’s dividend payout ratio is currently 55.09%.

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A number of equities research analysts recently commented on the company. TheStreet raised Gap from a “c” rating to a “b-” rating in a research note on Thursday, April 20th. Jefferies Group LLC set a $34.00 price objective on Gap and gave the stock a “buy” rating in a research note on Saturday, February 25th. Zacks Investment Research raised Gap from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Wednesday, January 25th. FBR & Co set a $28.00 price objective on Gap and gave the stock a “hold” rating in a research note on Monday, February 27th. Finally, Oppenheimer Holdings Inc. set a $24.00 price objective on Gap and gave the stock a “hold” rating in a research note on Thursday, February 2nd. Three research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $25.71.

In other Gap news, Director Robert J. Fisher sold 500,000 shares of Gap stock in a transaction that occurred 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 transaction, the director now owns 8,867,728 shares of the company’s stock, valued at approximately $217,968,754.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeff Kirwan sold 5,000 shares of Gap stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $24.88, for a total transaction 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 disclosure for this sale can be found here. 30.00% of the stock is owned by company insiders.

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.

12 Month Chart for NYSE:GPS

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