HS Management Partners LLC acquired a new stake in The Gap, Inc. (NYSE:GAP – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 398,957 shares of the company’s stock, valued at approximately $7,453,000. GAP accounts for 2.6% of HS Management Partners LLC’s investment portfolio, making the stock its 21st largest position. HS Management Partners LLC owned about 0.11% of GAP at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its holdings in GAP by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 71,867 shares of the company’s stock worth $1,537,000 after buying an additional 447 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in shares of GAP in the fourth quarter valued at about $26,000. Plato Investment Management Ltd bought a new position in shares of GAP during the fourth quarter worth about $28,000. Global Retirement Partners LLC bought a new position in shares of GAP during the second quarter worth about $29,000. Finally, California State Teachers Retirement System lifted its stake in shares of GAP by 0.8% in the second quarter. California State Teachers Retirement System now owns 226,506 shares of the company’s stock worth $4,940,000 after acquiring an additional 1,703 shares during the period. 58.81% of the stock is owned by institutional investors.
GAP Price Performance
Shares of NYSE GAP opened at $20.07 on Wednesday. The firm has a market capitalization of $7.23 billion, a P/E ratio of 7.90, a P/E/G ratio of 1.21 and a beta of 2.05. The firm’s 50-day moving average price is $20.18 and its 200-day moving average price is $23.27. The company has a current ratio of 1.81, a quick ratio of 1.08 and a debt-to-equity ratio of 0.41. The Gap, Inc. has a 1-year low of $18.11 and a 1-year high of $29.36.
GAP Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be issued a $0.175 dividend. The ex-dividend date is Wednesday, October 7th. This represents a $0.70 annualized dividend and a yield of 3.5%. GAP’s dividend payout ratio is presently 27.56%.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on GAP. The Goldman Sachs Group reduced their target price on GAP from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, May 29th. Evercore set a $20.00 price target on shares of GAP and gave the stock an “in-line” rating in a research report on Friday, May 29th. BTIG Research set a $26.00 price target on shares of GAP in a research report on Thursday, July 30th. Jefferies Financial Group lowered shares of GAP from a “buy” rating to a “hold” rating and reduced their price objective for the company from $29.00 to $23.00 in a research note on Wednesday, August 12th. Finally, Bank of America decreased their price objective on shares of GAP from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.50.
Check Out Our Latest Stock Report on GAP
GAP Company Profile
Gap Inc is a global specialty retailer renowned for its portfolio of apparel and accessories brands, including Gap, Banana Republic, Old Navy and Athleta. The company designs, sources and markets clothing across a broad price range and style spectrum, catering to men, women and children. Its offerings extend from everyday wardrobe essentials such as denim, tees and outerwear to performance and lifestyle pieces, reflecting each brand’s distinct identity and price point.
Founded in San Francisco in 1969 by Donald and Doris Fisher, Gap Inc has grown into one of the world’s largest apparel companies.
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