United Services Automobile Association Acquires 133,884 Shares of Gap Inc (GPS)

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United Services Automobile Association boosted its holdings in Gap Inc (NYSE:GPS) by 46.8% during the third quarter, HoldingsChannel.com reports. The firm owned 419,660 shares of the apparel retailer’s stock after acquiring an additional 133,884 shares during the quarter. United Services Automobile Association’s holdings in GAP were worth $12,107,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GPS. Bank of New York Mellon Corp grew its holdings in shares of GAP by 5.9% during the third quarter. Bank of New York Mellon Corp now owns 12,602,613 shares of the apparel retailer’s stock valued at $363,586,000 after buying an additional 701,959 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of GAP by 4.1% during the third quarter. Wells Fargo & Company MN now owns 4,306,449 shares of the apparel retailer’s stock valued at $124,241,000 after buying an additional 168,980 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of GAP by 626.8% during the second quarter. Point72 Asset Management L.P. now owns 2,743,079 shares of the apparel retailer’s stock valued at $88,848,000 after buying an additional 2,365,680 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of GAP by 25.3% during the second quarter. Voya Investment Management LLC now owns 2,337,564 shares of the apparel retailer’s stock valued at $75,713,000 after buying an additional 472,565 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of GAP by 2.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,729,802 shares of the apparel retailer’s stock valued at $56,025,000 after buying an additional 47,827 shares during the last quarter. Institutional investors and hedge funds own 56.60% of the company’s stock.

GPS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut shares of GAP from a “neutral” rating to an “underweight” rating and cut their price target for the company from $30.00 to $24.00 in a report on Thursday, October 18th. Royal Bank of Canada cut their price target on shares of GAP to $30.00 and set a “positive” rating on the stock in a report on Thursday, November 1st. B. Riley reiterated a “neutral” rating on shares of GAP in a report on Wednesday, November 7th. Barclays reiterated a “buy” rating and set a $33.00 price target on shares of GAP in a report on Thursday, November 22nd. Finally, Citigroup upgraded shares of GAP from a “sell” rating to a “neutral” rating and set a $28.00 price target on the stock in a report on Monday, August 27th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $31.30.

Shares of GAP stock opened at $26.99 on Friday. The company has a market cap of $10.53 billion, a P/E ratio of 12.67, a P/E/G ratio of 1.20 and a beta of 0.67. Gap Inc has a twelve month low of $24.25 and a twelve month high of $35.68. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.85 and a current ratio of 1.97.

GAP (NYSE:GPS) last issued its quarterly earnings data on Tuesday, November 20th. The apparel retailer reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.01. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4 billion. GAP had a net margin of 5.57% and a return on equity of 29.45%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.58 earnings per share. On average, research analysts anticipate that Gap Inc will post 2.56 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 30th. Investors of record on Wednesday, January 9th will be given a dividend of $0.2425 per share. The ex-dividend date of this dividend is Tuesday, January 8th. This represents a $0.97 dividend on an annualized basis and a yield of 3.59%. GAP’s dividend payout ratio (DPR) is 45.54%.

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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, and Intermix 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.

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Want to see what other hedge funds are holding GPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gap Inc (NYSE:GPS).

Institutional Ownership by Quarter for GAP (NYSE:GPS)

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