New Mexico Educational Retirement Board cut its position in shares of Gap Inc (NYSE:GPS) by 6.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 16,379 shares of the apparel retailer’s stock after selling 1,100 shares during the period. New Mexico Educational Retirement Board’s holdings in GAP were worth $284,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in GPS. Smithfield Trust Co. increased its position in shares of GAP by 156.7% during the 3rd quarter. Smithfield Trust Co. now owns 2,785 shares of the apparel retailer’s stock valued at $48,000 after purchasing an additional 1,700 shares during the last quarter. Atlas Capital Advisors LLC bought a new position in shares of GAP during the 2nd quarter valued at about $52,000. Signaturefd LLC increased its position in shares of GAP by 52.5% during the 3rd quarter. Signaturefd LLC now owns 6,104 shares of the apparel retailer’s stock valued at $106,000 after purchasing an additional 2,101 shares during the last quarter. ETF Managers Group LLC bought a new position in shares of GAP during the 2nd quarter valued at about $128,000. Finally, Cerebellum GP LLC bought a new position in shares of GAP during the 3rd quarter valued at about $130,000. Hedge funds and other institutional investors own 60.26% of the company’s stock.
Several brokerages have recently commented on GPS. MKM Partners set a $18.00 price objective on GAP and gave the company a “hold” rating in a research report on Friday, September 13th. Barclays began coverage on GAP in a research report on Tuesday, November 12th. They set an “underweight” rating and a $14.00 price objective on the stock. Credit Suisse Group lowered GAP from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $20.00 to $14.00 in a research report on Friday, October 18th. Morgan Stanley set a $15.00 price objective on GAP and gave the company a “sell” rating in a research report on Friday, September 13th. Finally, Bank of America set a $14.00 price objective on GAP and gave the company a “sell” rating in a research report on Friday, August 23rd. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $18.87.
Shares of GPS stock opened at $16.19 on Tuesday. The stock has a market capitalization of $6.20 billion, a PE ratio of 6.25, a P/E/G ratio of 1.06 and a beta of 0.71. Gap Inc has a 1-year low of $15.11 and a 1-year high of $31.39. The business has a 50-day moving average of $17.10 and a 200 day moving average of $17.88. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.43 and a quick ratio of 0.58.
GAP (NYSE:GPS) last issued its earnings results on Thursday, November 21st. The apparel retailer reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.02. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.96 billion. GAP had a return on equity of 22.33% and a net margin of 4.97%. GAP’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 EPS. Analysts anticipate that Gap Inc will post 1.73 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be issued a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a yield of 5.99%. The ex-dividend date of this dividend is Tuesday, January 7th. 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.
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