Wells Fargo & Company MN Trims Stake in Gap Inc (GPS)

Wells Fargo & Company MN trimmed its holdings in Gap Inc (NYSE:GPS) by 6.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,660,537 shares of the apparel retailer’s stock after selling 188,211 shares during the period. Wells Fargo & Company MN owned 0.68% of GAP worth $78,566,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GPS. Louisiana State Employees Retirement System raised its holdings in GAP by 1.5% during the second quarter. Louisiana State Employees Retirement System now owns 13,700 shares of the apparel retailer’s stock worth $301,000 after purchasing an additional 200 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in GAP by 105.6% during the second quarter. Municipal Employees Retirement System of Michigan now owns 14,250 shares of the apparel retailer’s stock worth $313,000 after purchasing an additional 7,320 shares in the last quarter. NGAM Advisors L.P. raised its holdings in GAP by 1.0% during the second quarter. NGAM Advisors L.P. now owns 68,005 shares of the apparel retailer’s stock worth $1,495,000 after purchasing an additional 646 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in GAP by 91.1% during the second quarter. Great West Life Assurance Co. Can now owns 393,791 shares of the apparel retailer’s stock worth $8,647,000 after purchasing an additional 187,772 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in GAP by 2.6% during the second quarter. CIBC Asset Management Inc now owns 33,727 shares of the apparel retailer’s stock worth $742,000 after purchasing an additional 863 shares in the last quarter. 54.78% of the stock is owned by institutional investors and hedge funds.

Shares of Gap Inc (NYSE GPS) traded up $0.08 during midday trading on Thursday, reaching $33.40. 3,980,600 shares of the company were exchanged, compared to its average volume of 5,999,040. Gap Inc has a 1 year low of $21.02 and a 1 year high of $34.30. The firm has a market capitalization of $12,956.72, a price-to-earnings ratio of 16.41, a P/E/G ratio of 1.98 and a beta of 0.95. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.77 and a current ratio of 1.73.

GAP (NYSE:GPS) last announced its earnings results on Thursday, November 16th. The apparel retailer reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. GAP had a net margin of 5.57% and a return on equity of 27.47%. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the business earned $0.60 earnings per share. GAP’s revenue was up 1.1% compared to the same quarter last year. analysts anticipate that Gap Inc will post 2.1 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 3rd will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Tuesday, January 2nd. GAP’s dividend payout ratio is currently 42.40%.

Several research firms recently issued reports on GPS. Zacks Investment Research raised shares of GAP from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Friday, August 25th. Oppenheimer set a $33.00 price target on shares of GAP and gave the stock a “buy” rating in a report on Monday, October 30th. ValuEngine raised shares of GAP from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 30th. Royal Bank Of Canada set a $26.00 price target on shares of GAP and gave the stock a “hold” rating in a report on Monday, October 30th. Finally, KeyCorp reissued a “buy” rating and set a $33.00 price target on shares of GAP in a report on Tuesday, September 26th. Four research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $27.94.

In other GAP news, EVP Julie Gruber sold 7,133 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $34.00, for a total transaction of $242,522.00. Following the transaction, the executive vice president now owns 24,583 shares of the company’s stock, valued at $835,822. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Dara Bazzano sold 1,593 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $30.04, for a total transaction of $47,853.72. Following the transaction, the vice president now directly owns 2,866 shares in the company, valued at approximately $86,094.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,212,077 shares of company stock worth $67,302,126. 27.30% of the stock is currently owned by insiders.

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GAP 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.

Institutional Ownership by Quarter for GAP (NYSE:GPS)

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