Citizens Financial Group Inc RI acquired a new stake in The Gap, Inc. (NYSE:GPS – Get Rating) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,801 shares of the apparel retailer’s stock, valued at approximately $154,000.
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A number of other institutional investors have also modified their holdings of the company. California Public Employees Retirement System raised its position in shares of GAP by 1.3% in the third quarter. California Public Employees Retirement System now owns 424,674 shares of the apparel retailer’s stock valued at $3,487,000 after buying an additional 5,342 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of GAP by 35.4% in the third quarter. Nisa Investment Advisors LLC now owns 64,060 shares of the apparel retailer’s stock valued at $559,000 after buying an additional 16,760 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of GAP by 2.3% in the third quarter. Russell Investments Group Ltd. now owns 53,690 shares of the apparel retailer’s stock valued at $438,000 after buying an additional 1,188 shares during the last quarter. US Bancorp DE raised its position in shares of GAP by 31.6% in the third quarter. US Bancorp DE now owns 16,609 shares of the apparel retailer’s stock valued at $136,000 after buying an additional 3,991 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in shares of GAP by 12.2% in the second quarter. Captrust Financial Advisors now owns 8,561 shares of the apparel retailer’s stock valued at $71,000 after buying an additional 930 shares during the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on GPS. Citigroup boosted their price objective on shares of GAP from $7.00 to $8.00 and gave the company a “sell” rating in a research report on Friday, November 11th. Credit Suisse Group upped their price target on shares of GAP to $12.00 in a research report on Monday, November 21st. StockNews.com raised shares of GAP from a “sell” rating to a “hold” rating in a research report on Wednesday, February 8th. Telsey Advisory Group upped their price target on shares of GAP from $10.00 to $15.00 and gave the stock a “market perform” rating in a research report on Friday, November 18th. Finally, The Goldman Sachs Group raised shares of GAP from a “neutral” rating to a “buy” rating and upped their price target for the stock from $10.00 to $18.00 in a research report on Monday, December 12th. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $11.67.
GAP Price Performance
Shares of GPS stock opened at $13.80 on Friday. The company has a market capitalization of $5.02 billion, a PE ratio of 86.26, a price-to-earnings-growth ratio of 1.82 and a beta of 1.94. The firm has a fifty day simple moving average of $12.93 and a 200-day simple moving average of $11.52. The company has a current ratio of 1.49, a quick ratio of 0.59 and a debt-to-equity ratio of 0.71. The Gap, Inc. has a twelve month low of $7.79 and a twelve month high of $16.14.
GAP (NYSE:GPS – Get Rating) last announced its earnings results on Thursday, November 17th. The apparel retailer reported $0.71 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.73. The business had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.83 billion. GAP had a net margin of 0.35% and a return on equity of 4.78%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 earnings per share. Equities research analysts anticipate that The Gap, Inc. will post -0.24 earnings per share for the current fiscal year.
Insider Activity
In other news, CEO Mark Breitbard sold 7,311 shares of the company’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $12.34, for a total value of $90,217.74. Following the completion of the transaction, the chief executive officer now directly owns 98,980 shares in the company, valued at $1,221,413.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 44.19% of the company’s stock.
GAP Profile
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.
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