WEALTHFRONT Corp Has $882,000 Stake in Gap Inc (GPS)

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WEALTHFRONT Corp reduced its stake in Gap Inc (NYSE:GPS) by 7.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,559 shares of the apparel retailer’s stock after selling 2,295 shares during the period. WEALTHFRONT Corp’s holdings in GAP were worth $882,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in GPS. Bank of New York Mellon Corp grew its position in GAP by 5.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 12,602,613 shares of the apparel retailer’s stock worth $363,586,000 after acquiring an additional 701,959 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in GAP by 4.1% during the 3rd quarter. Wells Fargo & Company MN now owns 4,306,449 shares of the apparel retailer’s stock worth $124,241,000 after buying an additional 168,980 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in GAP by 626.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,743,079 shares of the apparel retailer’s stock worth $88,848,000 after buying an additional 2,365,680 shares in the last quarter. Voya Investment Management LLC lifted its holdings in GAP by 25.3% during the 2nd quarter. Voya Investment Management LLC now owns 2,337,564 shares of the apparel retailer’s stock worth $75,713,000 after buying an additional 472,565 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in GAP by 2.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,729,802 shares of the apparel retailer’s stock worth $56,025,000 after buying an additional 47,827 shares in the last quarter. Institutional investors own 56.60% of the company’s stock.

GPS stock opened at $26.99 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.85 and a current ratio of 1.97. The firm has a market capitalization of $10.53 billion, a PE 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.

GAP (NYSE:GPS) last posted its quarterly earnings results 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 return on equity of 29.45% and a net margin of 5.57%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.58 EPS. On average, analysts expect that Gap Inc will post 2.56 earnings per share for the current fiscal year.

The company 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 $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Tuesday, January 8th. GAP’s dividend payout ratio is currently 45.54%.

Several research analysts have issued reports on GPS shares. B. Riley reduced their price objective on GAP from $35.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, August 24th. JPMorgan Chase & Co. reduced their price objective on GAP from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, August 24th. Wedbush started coverage on GAP in a report on Friday, August 10th. They set a “neutral” rating and a $32.00 price objective on the stock. Goldman Sachs Group started coverage on GAP in a report on Thursday, October 25th. They set a “neutral” rating and a $28.00 price objective on the stock. Finally, Barclays set a $39.00 price objective on GAP and gave the stock a “buy” rating in a report on Saturday, August 25th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.30.

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About GAP

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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Institutional Ownership by Quarter for GAP (NYSE:GPS)

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