The Gap, Inc. $GAP Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in The Gap, Inc. (NYSE:GAP) by 3.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 4,166,545 shares of the company’s stock after acquiring an additional 151,297 shares during the quarter. Geode Capital Management LLC’s holdings in GAP were worth $91,399,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Dodge & Cox acquired a new position in GAP in the first quarter valued at approximately $592,222,000. Ameriprise Financial Inc. acquired a new position in shares of GAP in the 1st quarter valued at $63,674,000. LSV Asset Management purchased a new position in shares of GAP in the 1st quarter valued at $32,655,000. Caisse DE Depot ET Placement DU Quebec acquired a new stake in GAP during the 1st quarter worth $7,207,000. Finally, Corebridge Financial Inc. purchased a new stake in GAP in the first quarter valued at $5,062,000. Hedge funds and other institutional investors own 58.81% of the company’s stock.

Insider Activity

In other GAP news, Director William Sydney Fisher sold 243,064 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $23.82, for a total transaction of $5,789,784.48. Following the transaction, the director owned 3,453,453 shares in the company, valued at approximately $82,261,250.46. The trade was a 6.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert J. Fisher sold 500,000 shares of the stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $22.90, for a total value of $11,450,000.00. Following the transaction, the director directly owned 2,829,502 shares of the company’s stock, valued at approximately $64,795,595.80. This trade represents a 15.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 943,064 shares of company stock valued at $22,011,784 over the last three months. 30.56% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. The Goldman Sachs Group lifted their target price on GAP from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday. Weiss Ratings restated a “buy (b-)” rating on shares of GAP in a research note on Tuesday. Wall Street Zen lowered GAP from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. Jefferies Financial Group raised GAP from a “hold” rating to a “buy” rating and increased their price objective for the company from $22.00 to $30.00 in a report on Friday, November 14th. Finally, Bank of America lifted their target price on shares of GAP from $23.00 to $27.00 and gave the company a “neutral” rating in a report on Friday. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, GAP presently has an average rating of “Moderate Buy” and a consensus target price of $27.43.

GAP Trading Up 8.2%

Shares of GAP stock opened at $24.96 on Friday. The company has a market capitalization of $9.26 billion, a P/E ratio of 10.67, a price-to-earnings-growth ratio of 2.70 and a beta of 2.17. The company has a current ratio of 1.68, a quick ratio of 0.96 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $22.58 and its two-hundred day moving average is $22.49. The Gap, Inc. has a twelve month low of $16.99 and a twelve month high of $29.29.

GAP (NYSE:GAP) last issued its quarterly earnings results on Thursday, November 20th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. The firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.90 billion. GAP had a return on equity of 27.04% and a net margin of 5.86%.The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the company earned $0.72 earnings per share. GAP has set its FY 2025 guidance at EPS. Equities analysts forecast that The Gap, Inc. will post 2.02 EPS for the current year.

GAP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 7th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, January 7th. GAP’s payout ratio is 28.21%.

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.