CIBC Asset Management Inc Has $881,000 Holdings in Gap Inc (NYSE:GPS)

CIBC Asset Management Inc increased its stake in shares of Gap Inc (NYSE:GPS) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,658 shares of the apparel retailer’s stock after acquiring an additional 934 shares during the quarter. CIBC Asset Management Inc’s holdings in GAP were worth $881,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GPS. Teachers Advisors LLC grew its holdings in GAP by 19.0% in the 3rd quarter. Teachers Advisors LLC now owns 1,446,209 shares of the apparel retailer’s stock worth $41,723,000 after buying an additional 230,741 shares in the last quarter. Morgan Stanley grew its holdings in GAP by 64.8% in the 3rd quarter. Morgan Stanley now owns 720,112 shares of the apparel retailer’s stock worth $20,774,000 after buying an additional 283,224 shares in the last quarter. Federated Investors Inc. PA grew its holdings in GAP by 33.8% in the 3rd quarter. Federated Investors Inc. PA now owns 112,938 shares of the apparel retailer’s stock worth $3,258,000 after buying an additional 28,505 shares in the last quarter. Vanguard Group Inc grew its holdings in GAP by 5.4% in the 3rd quarter. Vanguard Group Inc now owns 27,822,458 shares of the apparel retailer’s stock worth $802,678,000 after buying an additional 1,433,737 shares in the last quarter. Finally, DNB Asset Management AS grew its holdings in GAP by 54.2% in the 4th quarter. DNB Asset Management AS now owns 35,267 shares of the apparel retailer’s stock worth $908,000 after buying an additional 12,400 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Julie Gruber sold 3,286 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $24.00, for a total transaction of $78,864.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 37.60% of the stock is currently owned by corporate insiders.

A number of equities research analysts have weighed in on GPS shares. Standpoint Research upgraded GAP from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. TheStreet downgraded GAP from a “b-” rating to a “c+” rating in a research report on Thursday. Zacks Investment Research upgraded GAP from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. Guggenheim restated a “hold” rating on shares of GAP in a research report on Sunday, April 21st. Finally, Deutsche Bank upped their target price on GAP from $30.00 to $34.00 and gave the stock a “hold” rating in a research report on Friday, March 1st. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $25.77.

Shares of NYSE:GPS traded up $0.02 on Friday, reaching $18.18. 6,148,384 shares of the company traded hands, compared to its average volume of 7,738,331. Gap Inc has a fifty-two week low of $17.12 and a fifty-two week high of $34.21. The company has a market capitalization of $6.86 billion, a PE ratio of 7.02, a price-to-earnings-growth ratio of 0.98 and a beta of 0.78. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.70 and a current ratio of 1.49.

GAP (NYSE:GPS) last announced its quarterly earnings data on Thursday, May 30th. The apparel retailer reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.07). GAP had a net margin of 6.46% and a return on equity of 26.73%. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the company posted $0.42 EPS. GAP’s revenue was down 2.0% on a year-over-year basis. As a group, research analysts forecast that Gap Inc will post 2.07 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.2425 per share. The ex-dividend date is Tuesday, July 9th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 5.34%. GAP’s dividend payout ratio (DPR) is presently 37.45%.

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GAP 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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Institutional Ownership by Quarter for GAP (NYSE:GPS)

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