KLP Kapitalforvaltning AS Takes Position in The Gap, Inc. (NYSE:GAP)

Key Points

• KLP Kapitalforvaltning AS has purchased 51,300 shares of The Gap, Inc. for approximately $1,057,000 during the first quarter, signaling growing institutional interest in the stock.
• CEO Mark Breitbard sold 51,385 shares valued at $1,387,395, resulting in a 29.30% decrease in his ownership stake.
• Analysts have mixed opinions on GAP, with price targets ranging from $24.00 to $29.00 and a consensus rating of "Moderate Buy."

KLP Kapitalforvaltning AS acquired a new position in The Gap, Inc. (NYSE:GAP - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 51,300 shares of the company's stock, valued at approximately $1,057,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bank of New York Mellon Corp purchased a new position in shares of GAP in the 1st quarter worth $56,763,000. Rhumbline Advisers purchased a new position in shares of GAP in the 1st quarter worth $12,210,000. Hennessy Advisors Inc. purchased a new position in shares of GAP in the 1st quarter worth $7,422,000. New York State Teachers Retirement System purchased a new position in shares of GAP in the 1st quarter worth $5,065,000. Finally, California State Teachers Retirement System purchased a new position in shares of GAP in the 4th quarter worth $4,953,000. 58.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GAP

In other news, CEO Mark Breitbard sold 51,385 shares of the business's stock in a transaction dated Friday, May 16th. The shares were 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 in the company, valued at approximately $3,347,595. The trade was a 29.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 30.56% of the company's stock.

GAP Trading Down 2.5%

GAP traded down $0.48 on Friday, reaching $18.98. 3,792,702 shares of the company traded hands, compared to its average volume of 8,996,717. The Gap, Inc. has a one year low of $16.99 and a one year high of $29.29. The firm has a fifty day simple moving average of $22.14 and a two-hundred day simple moving average of $22.14. The company has a market cap of $7.15 billion, a P/E ratio of 8.22, a price-to-earnings-growth ratio of 2.15 and a beta of 2.14. The company has a quick ratio of 0.98, a current ratio of 1.71 and a debt-to-equity ratio of 0.45.

GAP (NYSE:GAP - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.07. GAP had a net margin of 5.80% and a return on equity of 27.86%. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. As a group, equities research analysts expect that The Gap, Inc. will post 2.02 earnings per share for the current year.

GAP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 30th. Stockholders of record on Wednesday, July 9th were issued a $0.165 dividend. The ex-dividend date was Wednesday, July 9th. This represents a $0.66 annualized dividend and a dividend yield of 3.5%. GAP's payout ratio is currently 28.57%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wall Street Zen raised shares of GAP from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Wells Fargo & Company cut shares of GAP from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $30.00 to $24.00 in a research note on Wednesday, April 30th. JPMorgan Chase & Co. raised their target price on shares of GAP from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Barclays raised their target price on shares of GAP from $26.00 to $33.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.93.

GAP Company 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.