Amundi Pioneer Asset Management Inc. trimmed its holdings in Gap Inc (NYSE:GPS) by 5.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,408,901 shares of the apparel retailer’s stock after selling 133,429 shares during the quarter. Amundi Pioneer Asset Management Inc. owned about 0.64% of GAP worth $63,065,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Treasurer State of Michigan raised its holdings in shares of GAP by 0.7% during the 1st quarter. State Treasurer State of Michigan now owns 61,546 shares of the apparel retailer’s stock worth $1,611,000 after acquiring an additional 400 shares in the last quarter. Edmond DE Rothschild Holding S.A. grew its position in GAP by 5.5% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 8,290 shares of the apparel retailer’s stock valued at $214,000 after acquiring an additional 430 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of GAP by 3.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 14,060 shares of the apparel retailer’s stock worth $368,000 after buying an additional 434 shares during the period. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of GAP by 1.9% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 24,605 shares of the apparel retailer’s stock worth $634,000 after buying an additional 448 shares during the period. Finally, LS Investment Advisors LLC lifted its holdings in shares of GAP by 2.8% in the 1st quarter. LS Investment Advisors LLC now owns 17,426 shares of the apparel retailer’s stock worth $456,000 after buying an additional 474 shares during the period. Institutional investors own 57.75% of the company’s stock.
Shares of GPS traded down $0.01 on Monday, reaching $17.96. The stock had a trading volume of 5,436,897 shares, compared to its average volume of 5,769,807. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of 6.93, a PEG ratio of 0.97 and a beta of 0.71. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.49 and a quick ratio of 0.70. The company’s 50-day moving average is $19.86. Gap Inc has a twelve month low of $17.12 and a twelve month high of $32.98.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be issued a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date of this dividend is Tuesday, July 9th. GAP’s dividend payout ratio is currently 37.45%.
A number of research analysts have recently weighed in on the company. Standpoint Research raised GAP from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Zacks Investment Research raised GAP from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. TheStreet lowered GAP from a “b-” rating to a “c+” rating in a report on Thursday, June 13th. MKM Partners dropped their price objective on GAP from $33.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, June 11th. Finally, B. Riley decreased their target price on GAP from $30.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $25.28.
In other GAP 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 document filed with the SEC, which is available at this link. Also, CEO Mcneil S. Fiske, Jr. sold 16,183 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $18.00, for a total value of $291,294.00. Following the transaction, the chief executive officer now directly owns 32,500 shares in the company, valued at approximately $585,000. The disclosure for this sale can be found here. Corporate insiders own 37.60% of the company’s stock.
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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