MetLife Investment Advisors LLC lowered its stake in shares of Gap Inc (NYSE:GPS) by 3.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 61,089 shares of the apparel retailer’s stock after selling 2,033 shares during the period. MetLife Investment Advisors LLC’s holdings in GAP were worth $1,574,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in GPS. Investors Research Corp lifted its holdings in shares of GAP by 4.4% in the fourth quarter. Investors Research Corp now owns 9,500 shares of the apparel retailer’s stock valued at $245,000 after purchasing an additional 400 shares in the last quarter. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of GAP by 5.5% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 8,290 shares of the apparel retailer’s stock valued at $214,000 after purchasing an additional 430 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of GAP by 1.9% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 24,605 shares of the apparel retailer’s stock valued at $634,000 after purchasing an additional 448 shares in the last quarter. Corient Capital Partners LLC lifted its holdings in shares of GAP by 0.8% in the fourth quarter. Corient Capital Partners LLC now owns 83,245 shares of the apparel retailer’s stock valued at $2,145,000 after purchasing an additional 641 shares in the last quarter. Finally, Fruth Investment Management lifted its holdings in shares of GAP by 1.8% in the fourth quarter. Fruth Investment Management now owns 44,750 shares of the apparel retailer’s stock valued at $1,152,000 after purchasing an additional 800 shares in the last quarter. 58.39% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Sonia Syngal sold 11,764 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $26.51, for a total value of $311,863.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Julie Gruber sold 7,500 shares of the stock in a transaction on Wednesday, January 16th. The shares were sold at an average price of $24.73, for a total transaction of $185,475.00. The disclosure for this sale can be found here. 30.60% of the stock is currently owned by corporate insiders.
GAP (NYSE:GPS) last released its quarterly earnings data 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%. During the same period last year, the company earned $0.61 earnings per share. Research analysts anticipate that Gap Inc will post 2.49 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.2425 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $0.97 annualized dividend and a dividend yield of 3.72%. GAP’s dividend payout ratio (DPR) is presently 37.45%.
A number of equities analysts have recently weighed in on the stock. ValuEngine lowered shares of GAP from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 7th. Credit Suisse Group cut their price objective on shares of GAP from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, February 26th. Zacks Investment Research lowered shares of GAP from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. Deutsche Bank boosted their price objective on shares of GAP from $30.00 to $34.00 and gave the company a “hold” rating in a research report on Friday, March 1st. Finally, Guggenheim reissued a “hold” rating on shares of GAP in a research report on Friday, March 1st. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $29.33.
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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, and Intermix 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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