Franklin Resources Inc. reduced its holdings in shares of Gap Inc (NYSE:GPS) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,590,305 shares of the apparel retailer’s stock after selling 37,298 shares during the quarter. Franklin Resources Inc.’s holdings in GAP were worth $190,406,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Brandywine Global Investment Management LLC increased its position in GAP by 3,548.6% in the fourth quarter. Brandywine Global Investment Management LLC now owns 306,811 shares of the apparel retailer’s stock worth $10,450,000 after buying an additional 298,402 shares during the last quarter. Caxton Associates LP purchased a new stake in GAP in the fourth quarter worth $341,000. Advisor Group Inc. increased its position in GAP by 14.3% in the fourth quarter. Advisor Group Inc. now owns 66,743 shares of the apparel retailer’s stock worth $2,274,000 after buying an additional 8,326 shares during the last quarter. Granite Springs Asset Management LLC purchased a new stake in GAP in the fourth quarter worth $331,000. Finally, Nomura Asset Management Co. Ltd. increased its position in GAP by 40.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 47,078 shares of the apparel retailer’s stock worth $1,604,000 after buying an additional 13,636 shares during the last quarter. 58.72% of the stock is owned by institutional investors and hedge funds.
Shares of Gap Inc (GPS) opened at $32.24 on Tuesday. The stock has a market capitalization of $12,864.23, a price-to-earnings ratio of 15.53, a P/E/G ratio of 1.58 and a beta of 0.88. Gap Inc has a 52 week low of $21.02 and a 52 week high of $35.68. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.04 and a current ratio of 1.86.
GAP (NYSE:GPS) last issued its quarterly earnings results on Thursday, March 1st. The apparel retailer reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. GAP had a return on equity of 28.13% and a net margin of 5.35%. The firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.68 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s revenue was up 7.9% compared to the same quarter last year. equities analysts expect that Gap Inc will post 2.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 2nd. Shareholders of record on Wednesday, April 11th will be paid a dividend of $0.2425 per share. The ex-dividend date is Tuesday, April 10th. This represents a $0.97 annualized dividend and a yield of 3.01%. This is a positive change from GAP’s previous quarterly dividend of $0.23. GAP’s payout ratio is 42.99%.
In other GAP news, EVP Brent Hyder sold 5,839 shares of GAP stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $33.04, for a total transaction of $192,920.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Julie Gruber sold 5,462 shares of GAP stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $35.00, for a total value of $191,170.00. Following the sale, the executive vice president now directly owns 11,988 shares of the company’s stock, valued at approximately $419,580. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 646,033 shares of company stock valued at $22,126,526. Corporate insiders own 27.30% of the company’s stock.
Several brokerages have recently weighed in on GPS. Robert W. Baird set a $28.00 price target on GAP and gave the company a “hold” rating in a research report on Friday, November 17th. Oppenheimer reiterated a “market perform” rating and issued a $33.00 price target on shares of GAP in a research report on Thursday, December 14th. Cowen set a $38.00 price target on GAP and gave the company a “hold” rating in a research report on Thursday, March 1st. Zacks Investment Research upgraded GAP from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Thursday, January 18th. Finally, Deutsche Bank reduced their price target on GAP from $33.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, February 26th. Three equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. GAP presently has an average rating of “Hold” and an average target price of $31.99.
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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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