Toronto Dominion Bank Grows Position in Gap Inc (GPS)

Toronto Dominion Bank increased its holdings in shares of Gap Inc (NYSE:GPS) by 4.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 163,975 shares of the apparel retailer’s stock after acquiring an additional 6,232 shares during the quarter. Toronto Dominion Bank’s holdings in GAP were worth $4,729,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GPS. CSat Investment Advisory L.P. acquired a new stake in GAP during the second quarter worth about $148,000. Titus Wealth Management acquired a new stake in GAP during the second quarter worth about $201,000. LFA Lugano Financial Advisors SA acquired a new stake in GAP during the second quarter worth about $202,000. Cornerstone Wealth Management LLC acquired a new stake in GAP during the third quarter worth about $204,000. Finally, Avestar Capital LLC raised its stake in GAP by 72.0% during the third quarter. Avestar Capital LLC now owns 7,776 shares of the apparel retailer’s stock worth $206,000 after acquiring an additional 3,255 shares during the period. Hedge funds and other institutional investors own 56.90% of the company’s stock.

Shares of NYSE:GPS opened at $26.00 on Friday. Gap Inc has a 52 week low of $24.25 and a 52 week high of $35.68. The company has a market capitalization of $10.00 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.12 and a beta of 0.71. The company has a current ratio of 1.97, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36.

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

The business 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 $0.2425 dividend. This represents a $0.97 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Tuesday, January 8th. GAP’s dividend payout ratio (DPR) is presently 45.54%.

Several research firms recently weighed in on GPS. B. Riley dropped their price objective on shares of GAP from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, August 24th. Guggenheim reiterated a “hold” rating on shares of GAP in a research note on Friday, August 24th. Zacks Investment Research lowered shares of GAP from a “buy” rating to a “hold” rating in a research note on Tuesday, August 21st. Wedbush began coverage on shares of GAP in a research note on Friday, August 10th. They set a “neutral” rating and a $32.00 price objective on the stock. Finally, Citigroup upgraded shares of GAP from a “sell” rating to a “neutral” rating and set a $28.00 price objective on the stock in a research note on Monday, August 27th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and five have given a buy rating to the company’s stock. GAP presently has an average rating of “Hold” and a consensus target price of $31.39.

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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.

Further Reading: Inflation

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Institutional Ownership by Quarter for GAP (NYSE:GPS)

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