NuWave Investment Management LLC purchased a new stake in Gap Inc (NYSE:GPS) in the fourth quarter, Holdings Channel reports. The firm purchased 7,160 shares of the apparel retailer’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Chevy Chase Trust Holdings Inc. increased its holdings in shares of GAP by 1.0% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 192,812 shares of the apparel retailer’s stock valued at $5,694,000 after acquiring an additional 1,902 shares during the last quarter. Hermes Investment Management Ltd. increased its holdings in shares of GAP by 7.3% in the 4th quarter. Hermes Investment Management Ltd. now owns 29,252 shares of the apparel retailer’s stock valued at $996,000 after acquiring an additional 2,000 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of GAP by 0.3% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 728,655 shares of the apparel retailer’s stock valued at $21,517,000 after acquiring an additional 2,093 shares during the last quarter. Acropolis Investment Management LLC increased its holdings in shares of GAP by 115.4% in the 4th quarter. Acropolis Investment Management LLC now owns 4,185 shares of the apparel retailer’s stock valued at $143,000 after acquiring an additional 2,242 shares during the last quarter. Finally, Andra AP fonden increased its holdings in shares of GAP by 2.6% in the 3rd quarter. Andra AP fonden now owns 89,800 shares of the apparel retailer’s stock valued at $2,652,000 after acquiring an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 55.03% of the company’s stock.

Gap Inc (NYSE GPS) opened at $32.43 on Wednesday. Gap Inc has a 52 week low of $21.02 and a 52 week high of $35.68. The stock has a market capitalization of $12,217.89, a price-to-earnings ratio of 14.94, a PEG ratio of 1.71 and a beta of 0.86. The company has a quick ratio of 0.77, a current ratio of 1.73 and a debt-to-equity ratio of 0.41.

GAP (NYSE:GPS) last released its quarterly earnings results on Thursday, November 16th. The apparel retailer reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.03. GAP had a return on equity of 27.47% and a net margin of 5.57%. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the prior year, the business posted $0.60 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. research analysts expect that Gap Inc will post 2.1 EPS for the current year.

A number of brokerages recently commented on GPS. Wolfe Research downgraded GAP from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 26th. Buckingham Research upped their price objective on GAP from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, November 17th. Barclays upped their price objective on GAP from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, November 17th. Cowen restated a “hold” rating and set a $32.00 price objective on shares of GAP in a research note on Wednesday, November 22nd. Finally, B. Riley set a $25.00 price objective on GAP and gave the stock a “hold” rating in a research note on Friday, November 17th. Three analysts have rated the stock with a sell rating, twenty have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $28.94.

In other news, VP Dara Bazzano sold 1,593 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $30.04, for a total value of $47,853.72. Following the completion of the sale, the vice president now owns 2,866 shares in the company, valued at $86,094.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Brent Hyder sold 5,839 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $33.04, for a total value of $192,920.56. The disclosure for this sale can be found here. In the last three months, insiders sold 1,554,529 shares of company stock valued at $48,965,623. Company insiders own 27.30% of the company’s stock.

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GAP Profile

The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.

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Institutional Ownership by Quarter for GAP (NYSE:GPS)

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