United Services Automobile Association grew its position in shares of Gap Inc (NYSE:GPS) by 46.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 419,660 shares of the apparel retailer’s stock after purchasing an additional 133,884 shares during the period. United Services Automobile Association owned approximately 0.11% of GAP worth $12,107,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stevens Capital Management LP bought a new stake in shares of GAP during the 3rd quarter worth $5,338,000. Standard Life Aberdeen plc lifted its stake in GAP by 1.7% in the third quarter. Standard Life Aberdeen plc now owns 329,062 shares of the apparel retailer’s stock worth $9,495,000 after purchasing an additional 5,595 shares during the last quarter. AMP Capital Investors Ltd lifted its stake in GAP by 51.0% in the third quarter. AMP Capital Investors Ltd now owns 304,355 shares of the apparel retailer’s stock worth $8,729,000 after purchasing an additional 102,766 shares during the last quarter. Panagora Asset Management Inc. lifted its stake in GAP by 71.3% in the third quarter. Panagora Asset Management Inc. now owns 92,808 shares of the apparel retailer’s stock worth $2,678,000 after purchasing an additional 38,633 shares during the last quarter. Finally, FDx Advisors Inc. lifted its stake in GAP by 35.4% in the third quarter. FDx Advisors Inc. now owns 16,711 shares of the apparel retailer’s stock worth $482,000 after purchasing an additional 4,373 shares during the last quarter. Hedge funds and other institutional investors own 56.60% of the company’s stock.
Several analysts have weighed in on the stock. B. Riley lowered their price target on shares of GAP from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, August 24th. Wedbush assumed coverage on shares of GAP in a research note on Friday, August 10th. They issued a “neutral” rating and a $32.00 price target for the company. Barclays set a $39.00 price target on shares of GAP and gave the stock a “buy” rating in a research note on Saturday, August 25th. Guggenheim reissued a “hold” rating on shares of GAP in a research note on Friday, August 24th. Finally, Standpoint Research raised shares of GAP from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Friday, October 19th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and five have assigned a buy rating to the company. GAP has a consensus rating of “Hold” and an average target price of $31.30.
GAP (NYSE:GPS) last issued its quarterly earnings data on Tuesday, November 20th. The apparel retailer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4 billion. GAP had a net margin of 5.57% and a return on equity of 29.45%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.58 earnings per share. On average, equities analysts anticipate that Gap Inc will post 2.56 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 30th. Stockholders of record on Wednesday, January 9th will be paid a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Tuesday, January 8th. GAP’s dividend payout ratio (DPR) is 45.54%.
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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, and Intermix 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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