Allworth Financial LP grew its position in shares of Gap Inc (NYSE:GPS) by 2,644.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,708 shares of the apparel retailer’s stock after acquiring an additional 5,500 shares during the period. Allworth Financial LP’s holdings in GAP were worth $101,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. FNY Investment Advisers LLC bought a new stake in shares of GAP during the fourth quarter valued at approximately $45,000. Smithfield Trust Co. raised its stake in shares of GAP by 156.7% during the third quarter. Smithfield Trust Co. now owns 2,785 shares of the apparel retailer’s stock valued at $48,000 after acquiring an additional 1,700 shares in the last quarter. Signaturefd LLC raised its stake in shares of GAP by 52.5% during the third quarter. Signaturefd LLC now owns 6,104 shares of the apparel retailer’s stock valued at $106,000 after acquiring an additional 2,101 shares in the last quarter. Penserra Capital Management LLC bought a new stake in shares of GAP during the third quarter valued at approximately $121,000. Finally, ETF Managers Group LLC bought a new stake in shares of GAP during the second quarter valued at approximately $128,000. Hedge funds and other institutional investors own 60.10% of the company’s stock.
Several brokerages recently issued reports on GPS. Royal Bank of Canada lifted their price objective on shares of GAP from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Deutsche Bank cut their price objective on shares of GAP from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Friday, November 8th. Barclays began coverage on shares of GAP in a report on Tuesday, November 12th. They set an “underweight” rating and a $14.00 price objective on the stock. Jefferies Financial Group lowered shares of GAP from a “buy” rating to a “hold” rating and cut their price objective for the company from $24.00 to $17.00 in a report on Monday, January 6th. Finally, Wedbush cut their price target on shares of GAP from $18.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $17.27.
Shares of GPS traded down $0.64 during trading hours on Friday, reaching $17.85. 4,743,623 shares of the company traded hands, compared to its average volume of 4,670,646. The stock has a market capitalization of $6.90 billion, a P/E ratio of 8.38, a P/E/G ratio of 1.21 and a beta of 0.75. The company has a quick ratio of 0.58, a current ratio of 1.43 and a debt-to-equity ratio of 1.90. Gap Inc has a 12-month low of $15.11 and a 12-month high of $31.39. The business has a fifty day moving average price of $17.89 and a 200-day moving average price of $17.37.
GAP (NYSE:GPS) last posted its earnings results on Thursday, November 21st. The apparel retailer reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. GAP had a net margin of 4.97% and a return on equity of 22.33%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 earnings per share. As a group, research analysts predict that Gap Inc will post 1.8 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th were given a dividend of $0.2425 per share. The ex-dividend date was Tuesday, January 7th. This represents a $0.97 dividend on an annualized basis and a yield of 5.43%. GAP’s dividend payout ratio is presently 37.45%.
GAP Company Profile
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, Intermix, and Hill City 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.
