Toronto Dominion Bank Sells 132,389 Shares of The Gap, Inc. (NYSE:GPS)

Toronto Dominion Bank lessened its position in shares of The Gap, Inc. (NYSE:GPSGet Rating) by 50.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 128,873 shares of the apparel retailer’s stock after selling 132,389 shares during the period. Toronto Dominion Bank’s holdings in GAP were worth $2,275,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GPS. FMR LLC raised its stake in GAP by 1,723.2% during the first quarter. FMR LLC now owns 251,986 shares of the apparel retailer’s stock worth $6,597,000 after buying an additional 238,165 shares during the last quarter. New York State Common Retirement Fund raised its stake in GAP by 7.5% during the third quarter. New York State Common Retirement Fund now owns 276,177 shares of the apparel retailer’s stock worth $6,269,000 after buying an additional 19,177 shares during the last quarter. Dupont Capital Management Corp bought a new position in GAP during the third quarter worth $828,000. Deseret Mutual Benefit Administrators raised its stake in GAP by 269.5% during the third quarter. Deseret Mutual Benefit Administrators now owns 20,152 shares of the apparel retailer’s stock worth $457,000 after buying an additional 14,698 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in GAP during the third quarter worth $649,000. 58.29% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have commented on the stock. BMO Capital Markets reduced their price target on shares of GAP from $16.00 to $13.00 and set a “market perform” rating for the company in a report on Friday. The Goldman Sachs Group reduced their price target on shares of GAP from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Friday. Bank of America cut shares of GAP from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $26.00 to $14.00 in a report on Tuesday, February 15th. B. Riley reduced their price target on shares of GAP from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Friday. Finally, Wells Fargo & Company reduced their price target on shares of GAP from $25.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, April 5th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.93.

Shares of NYSE GPS opened at $11.72 on Friday. The Gap, Inc. has a twelve month low of $11.07 and a twelve month high of $37.63. The stock’s 50 day moving average price is $14.29 and its 200-day moving average price is $17.78. The company has a market capitalization of $4.33 billion, a PE ratio of 17.76, a PEG ratio of 0.62 and a beta of 1.70. The company has a quick ratio of 0.53, a current ratio of 1.27 and a debt-to-equity ratio of 0.55.

GAP (NYSE:GPSGet Rating) last announced its earnings results on Thursday, March 3rd. The apparel retailer reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.12. GAP had a return on equity of 19.48% and a net margin of 1.54%. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the previous year, the business earned $0.28 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. As a group, research analysts expect that The Gap, Inc. will post 1.9 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 27th. Stockholders of record on Wednesday, April 6th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date of this dividend is Tuesday, April 5th. This is an increase from GAP’s previous quarterly dividend of $0.12. GAP’s payout ratio is presently 90.91%.

About GAP (Get Rating)

The Gap, Inc operates as an apparel retail company. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. Its products include denim, tees, fleece, and khakis; eyewear, jewelry, shoes, handbags, and fragrances; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.

Further Reading

Institutional Ownership by Quarter for GAP (NYSE:GPS)

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