Riverhead Capital Management LLC Raises Stake in Gap, Inc. (The) (GPS)

Riverhead Capital Management LLC increased its position in shares of Gap, Inc. (The) (NYSE:GPS) by 9.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 181,150 shares of the apparel retailer’s stock after acquiring an additional 15,050 shares during the quarter. Riverhead Capital Management LLC’s holdings in Gap, Inc. (The) were worth $3,984,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nationwide Fund Advisors lifted its stake in shares of Gap, Inc. (The) by 90.6% during the first quarter. Nationwide Fund Advisors now owns 118,671 shares of the apparel retailer’s stock valued at $2,883,000 after acquiring an additional 56,424 shares during the period. OppenheimerFunds Inc. lifted its stake in shares of Gap, Inc. (The) by 15.5% during the first quarter. OppenheimerFunds Inc. now owns 82,410 shares of the apparel retailer’s stock valued at $2,002,000 after acquiring an additional 11,080 shares during the period. World Asset Management Inc lifted its stake in shares of Gap, Inc. (The) by 9.4% during the first quarter. World Asset Management Inc now owns 26,770 shares of the apparel retailer’s stock valued at $650,000 after acquiring an additional 2,294 shares during the period. Xact Kapitalforvaltning AB lifted its stake in shares of Gap, Inc. (The) by 8.0% during the second quarter. Xact Kapitalforvaltning AB now owns 29,517 shares of the apparel retailer’s stock valued at $649,000 after acquiring an additional 2,186 shares during the period. Finally, Morgan Stanley lifted its stake in shares of Gap, Inc. (The) by 20.1% during the first quarter. Morgan Stanley now owns 1,953,064 shares of the apparel retailer’s stock valued at $47,440,000 after acquiring an additional 326,601 shares during the period. 56.21% of the stock is currently owned by institutional investors and hedge funds.

In other Gap, Inc. (The) news, EVP Paul Joseph Chapman sold 4,898 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $22.82, for a total transaction of $111,772.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sonia Syngal sold 1,935 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $25.79, for a total value of $49,903.65. Following the sale, the chief executive officer now directly owns 39,656 shares of the company’s stock, valued at $1,022,728.24. The disclosure for this sale can be found here. Insiders have sold a total of 9,833 shares of company stock valued at $231,606 over the last three months. Corporate insiders own 27.30% of the company’s stock.

Gap, Inc. (GPS) opened at 27.73 on Wednesday. The firm has a market capitalization of $10.87 billion, a PE ratio of 13.21 and a beta of 0.82. The company’s 50-day moving average price is $23.74 and its 200 day moving average price is $23.73. Gap, Inc. has a 12 month low of $21.02 and a 12 month high of $30.74.

Gap, Inc. (The) (NYSE:GPS) last issued its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.77 billion. Gap, Inc. (The) had a return on equity of 28.50% and a net margin of 5.42%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. On average, equities research analysts predict that Gap, Inc. will post $2.06 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Tuesday, October 3rd. Gap, Inc. (The)’s dividend payout ratio is currently 43.81%.

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Several brokerages have recently issued reports on GPS. Zacks Investment Research lowered Gap, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Wednesday. Jefferies Group LLC reaffirmed a “buy” rating and set a $39.00 price target (up previously from $35.00) on shares of Gap, Inc. (The) in a research note on Thursday, September 7th. ValuEngine raised Gap, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $26.00 price target on shares of Gap, Inc. (The) in a research note on Wednesday, August 9th. Finally, BMO Capital Markets set a $23.00 price target on Gap, Inc. (The) and gave the company a “hold” rating in a research note on Tuesday, August 8th. Three analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $26.01.

Gap, Inc. (The) Company Profile

The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.

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Institutional Ownership by Quarter for Gap, Inc. (The) (NYSE:GPS)

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