Toronto Dominion Bank Boosts Stake in Gap Inc (GPS)

Toronto Dominion Bank raised its stake in Gap Inc (NYSE:GPS) by 41.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 194,046 shares of the apparel retailer’s stock after acquiring an additional 56,633 shares during the quarter. Toronto Dominion Bank’s holdings in GAP were worth $5,079,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of GPS. Bremer Trust National Association bought a new position in shares of GAP in the fourth quarter worth about $29,000. Parallel Advisors LLC lifted its holdings in shares of GAP by 387.7% in the fourth quarter. Parallel Advisors LLC now owns 1,780 shares of the apparel retailer’s stock worth $45,000 after acquiring an additional 1,415 shares during the last quarter. NuWave Investment Management LLC lifted its holdings in shares of GAP by 11,075.0% in the first quarter. NuWave Investment Management LLC now owns 2,235 shares of the apparel retailer’s stock worth $58,000 after acquiring an additional 2,215 shares during the last quarter. FTB Advisors Inc. raised its holdings in GAP by 258.2% in the 4th quarter. FTB Advisors Inc. now owns 2,672 shares of the apparel retailer’s stock valued at $68,000 after buying an additional 1,926 shares during the last quarter. Finally, Legacy Advisors LLC bought a new position in GAP in the 1st quarter valued at approximately $88,000. 57.79% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on GPS. Guggenheim reiterated a “hold” rating on shares of GAP in a report on Sunday, April 21st. Zacks Investment Research upgraded shares of GAP from a “sell” rating to a “hold” rating in a report on Monday, May 13th. ValuEngine lowered shares of GAP from a “sell” rating to a “strong sell” rating in a report on Monday, May 13th. Credit Suisse Group dropped their price objective on shares of GAP from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, February 26th. Finally, Deutsche Bank raised their price objective on shares of GAP from $30.00 to $34.00 and gave the company a “hold” rating in a report on Friday, March 1st. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $29.33.

In other news, CEO Sonia Syngal sold 11,764 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $26.51, for a total transaction of $311,863.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Julie Gruber sold 3,286 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $24.00, for a total transaction of $78,864.00. The disclosure for this sale can be found here. 37.60% of the stock is currently owned by company insiders.

GAP stock traded down $0.58 during mid-day trading on Wednesday, hitting $21.77. 74,430 shares of the stock were exchanged, compared to its average volume of 5,261,548. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.96. Gap Inc has a 12 month low of $21.66 and a 12 month high of $34.21. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of 8.43, a PEG ratio of 1.01 and a beta of 0.53.

GAP (NYSE:GPS) last released its quarterly earnings results on Thursday, February 28th. The apparel retailer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. GAP had a net margin of 6.05% and a return on equity of 29.65%. The firm had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.72 billion. During the same quarter last year, the business earned $0.61 EPS. As a group, equities research analysts predict that Gap Inc will post 2.43 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were issued a dividend of $0.2425 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $0.97 annualized dividend and a yield of 4.46%. GAP’s payout ratio is 37.45%.

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About GAP

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.

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Institutional Ownership by Quarter for GAP (NYSE:GPS)

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