Heritage Investors Management Corp Decreases Stake in Gap Inc (NYSE:GPS)

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Heritage Investors Management Corp lessened its holdings in Gap Inc (NYSE:GPS) by 3.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,470 shares of the apparel retailer’s stock after selling 650 shares during the quarter. Heritage Investors Management Corp’s holdings in GAP were worth $296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Cerebellum GP LLC grew its stake in GAP by 29.9% in the 1st quarter. Cerebellum GP LLC now owns 13,035 shares of the apparel retailer’s stock valued at $341,000 after purchasing an additional 3,003 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of GAP by 8.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 130,717 shares of the apparel retailer’s stock worth $3,367,000 after acquiring an additional 9,647 shares during the period. Strs Ohio grew its stake in shares of GAP by 6.5% during the 1st quarter. Strs Ohio now owns 11,096 shares of the apparel retailer’s stock worth $290,000 after acquiring an additional 676 shares during the period. Advisor Partners LLC bought a new position in shares of GAP during the 1st quarter worth $214,000. Finally, Parallel Advisors LLC grew its stake in shares of GAP by 103.5% during the 1st quarter. Parallel Advisors LLC now owns 3,623 shares of the apparel retailer’s stock worth $95,000 after acquiring an additional 1,843 shares during the period. Hedge funds and other institutional investors own 57.67% of the company’s stock.

GPS has been the subject of several research reports. JPMorgan Chase & Co. cut their price target on GAP from $24.00 to $17.00 and set an “underweight” rating for the company in a research note on Friday, May 31st. Argus reiterated a “hold” rating on shares of GAP in a research note on Tuesday, June 4th. MKM Partners cut their price target on GAP from $33.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, June 11th. ValuEngine downgraded GAP from a “sell” rating to a “strong sell” rating in a research note on Monday, May 13th. Finally, TheStreet downgraded GAP from a “b-” rating to a “c+” rating in a research note on Thursday, June 13th. Five 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. The company has an average rating of “Hold” and a consensus target price of $24.73.

In related news, CEO Mcneil S. Fiske, Jr. sold 16,183 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was 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 in the company, valued at approximately $585,000. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 37.60% of the stock is owned by company insiders.

Shares of NYSE GPS opened at $17.46 on Tuesday. The stock has a market cap of $6.73 billion, a PE ratio of 6.74, a price-to-earnings-growth ratio of 0.97 and a beta of 0.71. The company has a current ratio of 1.49, a quick ratio of 0.70 and a debt-to-equity ratio of 1.92. Gap Inc has a 1-year low of $17.12 and a 1-year high of $32.98. The firm’s 50-day moving average price is $18.36.

GAP (NYSE:GPS) last announced its quarterly earnings data on Thursday, May 30th. The apparel retailer reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 analysts’ expectations of $3.78 billion. During the same period in the prior year, the business posted $0.42 earnings per share. The business’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Gap Inc will post 2.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th were given a dividend of $0.2425 per share. The ex-dividend date was Tuesday, July 9th. This represents a $0.97 annualized dividend and a yield of 5.56%. GAP’s payout ratio is 37.45%.

GAP Company 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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