Sumitomo Mitsui Trust Holdings Inc. Increases Position in Gap Inc (GPS)

Sumitomo Mitsui Trust Holdings Inc. boosted its position in Gap Inc (NYSE:GPS) by 3.2% during the third quarter, HoldingsChannel.com reports. The fund owned 826,309 shares of the apparel retailer’s stock after buying an additional 25,413 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in GAP were worth $23,839,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in GPS. CSat Investment Advisory L.P. bought a new stake in GAP in the 2nd quarter valued at about $148,000. Titus Wealth Management bought a new stake in GAP in the 2nd quarter valued at about $201,000. LFA Lugano Financial Advisors SA bought a new stake in GAP in the 2nd quarter valued at about $202,000. Cornerstone Wealth Management LLC bought a new stake in GAP in the 3rd quarter valued at about $204,000. Finally, Avestar Capital LLC raised its stake in GAP by 72.0% in the 3rd quarter. Avestar Capital LLC now owns 7,776 shares of the apparel retailer’s stock valued at $206,000 after acquiring an additional 3,255 shares during the period. Institutional investors and hedge funds own 56.90% of the company’s stock.

Shares of NYSE GPS opened at $26.00 on Friday. Gap Inc has a 12 month low of $24.25 and a 12 month high of $35.68. The company has a quick ratio of 1.02, a current ratio of 1.97 and a debt-to-equity ratio of 0.36. The stock has a market cap of $10.00 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.12 and a beta of 0.71.

GAP (NYSE:GPS) last issued its quarterly earnings data on Tuesday, November 20th. The apparel retailer reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.01. GAP had a return on equity of 29.45% and a net margin of 5.57%. The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. GAP’s revenue was up 6.5% on a year-over-year basis. Sell-side analysts anticipate that Gap Inc will post 2.56 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 30th. Stockholders of record on Wednesday, January 9th will be issued a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Tuesday, January 8th. GAP’s payout ratio is 45.54%.

A number of equities research analysts recently issued reports on GPS shares. B. Riley lowered their price objective on GAP from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, August 24th. JPMorgan Chase & Co. lowered their price objective on GAP from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, August 24th. Wedbush started coverage on GAP in a research note on Friday, August 10th. They issued a “neutral” rating and a $32.00 price objective on the stock. Goldman Sachs Group started coverage on GAP in a research report on Thursday, October 25th. They set a “neutral” rating and a $28.00 price target on the stock. Finally, Barclays set a $39.00 price target on GAP and gave the company a “buy” rating in a research report on Saturday, August 25th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and five have issued a buy rating to the stock. GAP presently has an average rating of “Hold” and an average price target of $31.39.

COPYRIGHT VIOLATION WARNING: This report was originally reported by WKRB News and is the sole property of of WKRB News. If you are viewing this report on another publication, it was illegally copied and reposted in violation of United States & international trademark & copyright laws. The legal version of this report can be viewed at https://www.wkrb13.com/2018/11/25/sumitomo-mitsui-trust-holdings-inc-increases-position-in-gap-inc-gps.html.

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.

Featured Article: What is cost of equity?

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)

Receive News & Ratings for GAP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GAP and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply