40,365 Shares in The Gap, Inc. (NYSE:GAP) Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC purchased a new position in shares of The Gap, Inc. (NYSE:GAP) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 40,365 shares of the company’s stock, valued at approximately $832,000.

Other hedge funds have also added to or reduced their stakes in the company. New Mexico Educational Retirement Board bought a new stake in shares of GAP during the 1st quarter valued at $892,000. Hexagon Capital Partners LLC bought a new stake in shares of GAP during the 1st quarter worth $30,000. Bank of New York Mellon Corp bought a new position in GAP in the first quarter valued at about $56,763,000. Oregon Public Employees Retirement Fund bought a new position in GAP in the first quarter valued at about $932,000. Finally, First Horizon Advisors Inc. bought a new position in shares of GAP during the first quarter worth about $75,000. 58.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GAP. Citigroup lowered their price objective on GAP from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, May 30th. JPMorgan Chase & Co. increased their price target on GAP from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, May 19th. UBS Group dropped their target price on GAP from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, May 30th. Telsey Advisory Group restated a “market perform” rating and issued a $26.00 target price on shares of GAP in a report on Friday, May 30th. Finally, The Goldman Sachs Group dropped their price target on GAP from $34.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.47.

Insider Activity at GAP

In other GAP news, CEO Mark Breitbard sold 51,385 shares of GAP stock in a transaction on Friday, May 16th. The stock was sold at an average price of $27.00, for a total value of $1,387,395.00. Following the completion of the sale, the chief executive officer owned 123,985 shares of the company’s stock, valued at approximately $3,347,595. This trade represents a 29.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 31.00% of the company’s stock.

GAP Trading Down 3.3%

Shares of GAP stock opened at $20.72 on Wednesday. The Gap, Inc. has a 1-year low of $16.99 and a 1-year high of $29.29. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.71 and a quick ratio of 0.98. The business has a 50-day moving average of $23.50 and a 200 day moving average of $22.42. The stock has a market capitalization of $7.80 billion, a PE ratio of 8.97, a P/E/G ratio of 2.32 and a beta of 2.14.

GAP (NYSE:GAP) last released its earnings results on Thursday, May 29th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.07. GAP had a return on equity of 27.86% and a net margin of 5.80%. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.41 billion. During the same quarter last year, the business posted $0.41 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Gap, Inc. will post 2.02 earnings per share for the current year.

GAP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Shareholders of record on Wednesday, July 9th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Wednesday, July 9th. GAP’s payout ratio is 28.57%.

GAP Profile

Gap, Inc operates as a global apparel retail company, which offers clothing, apparel, accessories, and personal care products for men, women, and children. The firm operates through the following segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Other. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody, and GapFit collections.