Retirement Systems of Alabama increased its stake in shares of Gap Inc (NYSE:GPS) by 261.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 359,125 shares of the apparel retailer’s stock after purchasing an additional 259,665 shares during the quarter. Retirement Systems of Alabama owned approximately 0.10% of GAP worth $6,453,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in GPS. BlackRock Inc. boosted its stake in shares of GAP by 28.2% in the 1st quarter. BlackRock Inc. now owns 20,412,955 shares of the apparel retailer’s stock valued at $534,413,000 after purchasing an additional 4,491,047 shares during the last quarter. Norges Bank purchased a new stake in GAP during the fourth quarter worth about $82,347,000. Dimensional Fund Advisors LP increased its holdings in GAP by 31.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,975,433 shares of the apparel retailer’s stock worth $102,406,000 after buying an additional 960,583 shares during the last quarter. California Public Employees Retirement System increased its holdings in GAP by 82.5% during the first quarter. California Public Employees Retirement System now owns 1,623,668 shares of the apparel retailer’s stock worth $42,508,000 after buying an additional 734,097 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in GAP by 121.1% during the first quarter. SG Americas Securities LLC now owns 105,865 shares of the apparel retailer’s stock worth $2,772,000 after buying an additional 607,780 shares during the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

GAP stock traded down $0.05 during mid-day trading on Monday, hitting $19.49. 101,620 shares of the company traded hands, compared to its average volume of 4,879,240. Gap Inc has a one year low of $17.12 and a one year high of $32.98. The firm has a market capitalization of $7.40 billion, a PE ratio of 7.49, a price-to-earnings-growth ratio of 1.06 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. The business’s fifty day moving average price is $18.31.

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

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be given a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Tuesday, July 9th. GAP’s payout ratio is currently 37.45%.

A number of analysts recently issued reports on the stock. Argus restated a “hold” rating on shares of GAP in a report on Tuesday, June 4th. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a report on Monday, May 13th. Guggenheim restated a “hold” rating on shares of GAP in a report on Sunday, April 21st. Nomura decreased 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, Zacks Investment Research upgraded shares of Gerdau from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $25.28.

In related news, EVP Julie Gruber sold 3,286 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $24.00, for a total transaction of $78,864.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 value of $291,294.00. Following the sale, the chief executive officer now directly owns 32,500 shares in the company, valued at approximately $585,000. The disclosure for this sale can be found here. 37.60% of the stock is owned by company insiders.

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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