Quilter Investors LTD Purchases 59,179 Shares of Gap Inc (NYSE:GPS)

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Quilter Investors LTD increased its position in shares of Gap Inc (NYSE:GPS) by 73.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 140,254 shares of the apparel retailer’s stock after buying an additional 59,179 shares during the period. GAP accounts for 2.4% of Quilter Investors LTD’s holdings, making the stock its 15th biggest holding. Quilter Investors LTD’s holdings in GAP were worth $2,520,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bremer Bank National Association acquired a new stake in GAP in the first quarter worth $29,000. Atlas Capital Advisors LLC acquired a new stake in GAP in the second quarter worth $52,000. Parallel Advisors LLC grew its holdings in GAP by 103.5% in the first quarter. Parallel Advisors LLC now owns 3,623 shares of the apparel retailer’s stock worth $95,000 after purchasing an additional 1,843 shares during the period. Quantamental Technologies LLC acquired a new stake in GAP in the first quarter worth $137,000. Finally, Quadrant Capital Group LLC grew its holdings in GAP by 78.0% in the first quarter. Quadrant Capital Group LLC now owns 5,795 shares of the apparel retailer’s stock worth $149,000 after purchasing an additional 2,539 shares during the period. 57.67% of the stock is owned by institutional investors and hedge funds.

Shares of GPS traded up $0.61 during trading hours on Friday, reaching $15.97. 7,854,500 shares of the stock traded hands, compared to its average volume of 6,683,384. The company has a current ratio of 1.49, a quick ratio of 0.70 and a debt-to-equity ratio of 1.92. The stock has a fifty day simple moving average of $18.26 and a 200 day simple moving average of $22.38. Gap Inc has a 52 week low of $15.22 and a 52 week high of $32.98. The company has a market cap of $5.81 billion, a price-to-earnings ratio of 6.17, a PEG ratio of 0.83 and a beta of 0.71.

GAP (NYSE:GPS) last released its quarterly earnings results on Thursday, May 30th. The apparel retailer reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.07). GAP had a net margin of 6.46% and a return on equity of 26.73%. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the business earned $0.42 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Analysts predict that Gap Inc will post 2.05 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Wednesday, October 9th will be given a dividend of $0.243 per share. This is a positive change from GAP’s previous quarterly dividend of $0.24. This represents a $0.97 dividend on an annualized basis and a dividend yield of 6.09%. The ex-dividend date is Tuesday, October 8th. GAP’s dividend payout ratio (DPR) is presently 37.45%.

In related news, CEO Mcneil S. Fiske, Jr. sold 16,183 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $18.00, for a total transaction of $291,294.00. Following the transaction, the chief executive officer now directly owns 32,500 shares of the company’s stock, valued at $585,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 37.60% of the stock is owned by company insiders.

A number of equities research analysts have commented on GPS shares. ValuEngine cut shares of GAP from a “sell” rating to a “strong sell” rating in a report on Monday, May 13th. Royal Bank of Canada set a $22.00 price objective on shares of GAP and gave the company a “hold” rating in a report on Friday, May 31st. Bank of America reiterated an “underperform” rating and set a $15.00 price objective (down from $24.00) on shares of GAP in a report on Friday, May 31st. Nomura reduced their price objective on shares of GAP from $22.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Finally, Argus reiterated a “hold” rating on shares of GAP in a report on Tuesday, June 4th. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. GAP presently has a consensus rating of “Hold” and a consensus target price of $24.73.

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, Intermix, and Hill City 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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