Nisa Investment Advisors LLC grew its position in shares of The Gap, Inc. (NYSE:GPS – Get Rating) by 35.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,060 shares of the apparel retailer’s stock after purchasing an additional 16,760 shares during the period. Nisa Investment Advisors LLC’s holdings in GAP were worth $559,000 at the end of the most recent quarter.
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A number of other hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its position in shares of GAP by 2.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 53,690 shares of the apparel retailer’s stock valued at $438,000 after purchasing an additional 1,188 shares in the last quarter. US Bancorp DE grew its position in GAP by 31.6% in the third quarter. US Bancorp DE now owns 16,609 shares of the apparel retailer’s stock worth $136,000 after acquiring an additional 3,991 shares in the last quarter. Captrust Financial Advisors grew its position in GAP by 12.2% in the second quarter. Captrust Financial Advisors now owns 8,561 shares of the apparel retailer’s stock worth $71,000 after acquiring an additional 930 shares in the last quarter. Quantbot Technologies LP grew its position in GAP by 30.0% in the second quarter. Quantbot Technologies LP now owns 48,954 shares of the apparel retailer’s stock worth $403,000 after acquiring an additional 11,283 shares in the last quarter. Finally, Dodge & Cox grew its position in GAP by 0.6% in the second quarter. Dodge & Cox now owns 38,608,626 shares of the apparel retailer’s stock worth $318,135,000 after acquiring an additional 247,148 shares in the last quarter. 57.72% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
GPS has been the subject of several research reports. Citigroup upped their target price on shares of GAP from $7.00 to $8.00 and gave the stock a “sell” rating in a research report on Friday, November 11th. Barclays cut their target price on shares of GAP from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, January 13th. Jefferies Financial Group boosted their price target on shares of GAP from $11.00 to $13.00 in a research note on Friday, November 18th. The Goldman Sachs Group raised shares of GAP from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $10.00 to $18.00 in a research note on Monday, December 12th. Finally, Credit Suisse Group boosted their price target on shares of GAP to $12.00 in a research note on Monday, November 21st. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.67.
GAP Price Performance
Shares of NYSE GPS opened at $14.56 on Tuesday. The Gap, Inc. has a 1 year low of $7.79 and a 1 year high of $17.88. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.49 and a quick ratio of 0.59. The company’s 50-day moving average is $13.07 and its 200 day moving average is $11.30. The stock has a market capitalization of $5.30 billion, a P/E ratio of 91.01, a P/E/G ratio of 1.97 and a beta of 1.94.
GAP (NYSE:GPS – Get Rating) last announced its quarterly earnings results on Thursday, November 17th. The apparel retailer reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.73. GAP had a net margin of 0.35% and a return on equity of 4.78%. The company had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter in the previous year, the company earned $0.27 earnings per share. GAP’s quarterly revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts expect that The Gap, Inc. will post -0.24 earnings per share for the current year.
Insider Activity at GAP
In related news, CFO Katrina O’connell sold 31,294 shares of the business’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $14.00, for a total transaction of $438,116.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other GAP news, CFO Katrina O’connell sold 31,294 shares of the company’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $14.00, for a total value of $438,116.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark Breitbard sold 7,311 shares of the company’s stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $12.34, for a total transaction of $90,217.74. Following the completion of the sale, the chief executive officer now owns 98,980 shares in the company, valued at approximately $1,221,413.20. The disclosure for this sale can be found here. Insiders have sold 38,978 shares of company stock worth $533,220 over the last 90 days. 44.19% of the stock is owned by company insiders.
About GAP
Gap, Inc operates as a global apparel retail company, which offers clothing, apparel, accessories, and personal care products for men, women, and children. The firm operates through the following segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Other. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody, and GapFit collections.
Further Reading
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