SG Americas Securities LLC Buys 232,133 Shares of Gap Inc (NYSE:GPS)

SG Americas Securities LLC grew its stake in shares of Gap Inc (NYSE:GPS) by 219.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 337,998 shares of the apparel retailer’s stock after purchasing an additional 232,133 shares during the period. SG Americas Securities LLC owned approximately 0.09% of GAP worth $6,074,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bremer Bank National Association bought a new stake in shares of GAP during the 1st quarter valued at about $29,000. Atlas Capital Advisors LLC bought a new stake in shares of GAP during the 2nd quarter valued at about $52,000. NuWave Investment Management LLC boosted its stake in shares of GAP by 11,075.0% during the 1st quarter. NuWave Investment Management LLC now owns 2,235 shares of the apparel retailer’s stock valued at $58,000 after purchasing an additional 2,215 shares in the last quarter. Legacy Advisors LLC bought a new stake in shares of GAP during the 1st quarter valued at about $88,000. Finally, Parallel Advisors LLC boosted 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 valued at $95,000 after purchasing an additional 1,843 shares in the last quarter. 56.99% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE GPS traded down $0.39 during midday trading on Friday, hitting $17.81. The stock had a trading volume of 4,548,458 shares, compared to its average volume of 5,739,981. The firm’s 50 day moving average is $18.39. The stock has a market cap of $6.88 billion, a P/E ratio of 6.88, a P/E/G ratio of 0.99 and a beta of 0.71. Gap Inc has a 52 week low of $17.12 and a 52 week high of $32.98. 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 (NYSE:GPS) last issued its earnings results on Thursday, May 30th. The apparel retailer reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.07). The firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.78 billion. GAP had a return on equity of 26.73% and a net margin of 6.46%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 EPS. Sell-side analysts expect that Gap Inc will post 2.05 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th were paid a $0.2425 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $0.97 annualized dividend and a dividend yield of 5.45%. GAP’s dividend payout ratio is presently 37.45%.

In other news, CEO Mcneil S. Fiske, Jr. sold 16,183 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $18.00, for a total value of $291,294.00. Following the transaction, the chief executive officer now owns 32,500 shares in the company, valued at $585,000. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Julie Gruber sold 3,286 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $24.00, for a total transaction of $78,864.00. The disclosure for this sale can be found here. Corporate insiders own 37.60% of the company’s stock.

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada set a $22.00 target price on shares of GAP and gave the company a “hold” rating in a research note on Friday, May 31st. Wedbush dropped their price objective on shares of GAP from $23.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. TheStreet lowered shares of GAP from a “b-” rating to a “c+” rating in a research note on Thursday, June 13th. Nomura dropped their price objective on shares of GAP from $22.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Finally, MKM Partners dropped their price objective on shares of GAP from $33.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 11th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average 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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