Gap Inc (NYSE:GPS) Shares Bought by Occidental Asset Management LLC

Occidental Asset Management LLC grew its holdings in shares of Gap Inc (NYSE:GPS) by 11.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,436 shares of the apparel retailer’s stock after purchasing an additional 2,146 shares during the quarter. Occidental Asset Management LLC’s holdings in GAP were worth $367,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cerebellum GP LLC raised its holdings in shares of GAP by 29.9% during the 1st quarter. Cerebellum GP LLC now owns 13,035 shares of the apparel retailer’s stock worth $341,000 after acquiring an additional 3,003 shares during the period. Strs Ohio raised its holdings in shares of GAP by 6.5% during the 1st quarter. Strs Ohio now owns 11,096 shares of the apparel retailer’s stock worth $290,000 after acquiring an additional 676 shares during the period. Advisor Partners LLC purchased a new position in shares of GAP during the 1st quarter worth $214,000. Parallel Advisors LLC raised its holdings in shares of GAP by 103.5% during the 1st quarter. Parallel Advisors LLC now owns 3,623 shares of the apparel retailer’s stock worth $95,000 after acquiring an additional 1,843 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of GAP by 7.4% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 255,154 shares of the apparel retailer’s stock worth $6,680,000 after acquiring an additional 17,609 shares during the period. 57.67% of the stock is currently owned by institutional investors.

NYSE:GPS traded down $1.24 on Thursday, reaching $15.29. 451,991 shares of the company’s stock were exchanged, compared to its average volume of 5,790,397. The company has a quick ratio of 0.70, a current ratio of 1.49 and a debt-to-equity ratio of 1.92. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of 5.92, a price-to-earnings-growth ratio of 0.95 and a beta of 0.71. The business has a fifty day simple moving average of $18.34. Gap Inc has a 52-week low of $16.52 and a 52-week high of $32.98.

GAP (NYSE:GPS) last issued its quarterly earnings results on Thursday, May 30th. The apparel retailer reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.07). The business had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.78 billion. GAP had a return on equity of 26.73% and a net margin of 6.46%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.42 earnings per share. As a group, research analysts anticipate that Gap Inc will post 2.05 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.2425 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $0.97 dividend on an annualized basis and a yield of 6.34%. GAP’s dividend payout ratio (DPR) is presently 37.45%.

Several analysts recently issued reports on GPS shares. Zacks Investment Research upgraded shares of GAP from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Wedbush reduced their price objective on shares of GAP from $23.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. ValuEngine lowered shares of GAP from a “sell” rating to a “strong sell” rating in a report on Monday, May 13th. Argus restated a “hold” rating on shares of GAP in a report on Tuesday, June 4th. Finally, Nomura reduced their price objective on shares of GAP from $22.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. GAP has a consensus rating of “Hold” and a consensus target price of $24.73.

In other GAP news, CEO Mcneil S. Fiske, Jr. sold 16,183 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $18.00, for a total transaction of $291,294.00. Following the sale, the chief executive officer now directly owns 32,500 shares in the company, valued at $585,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 37.60% of the stock is owned by corporate insiders.

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.

Read More: Price to Earnings Ratio (PE) Basics

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Institutional Ownership by Quarter for GAP (NYSE:GPS)

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