The Vanguard Group, Inc. recently announced the acquisition of new stake in Gap, Inc. (NYSE:GPS). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.60% to 26.65 million shares with purchase of 0.16 million shares. This fresh investment now brings its stake to 7.19% valued currently at $557.18 million. In addition, Pzena Investment Management LLC raised its holdings by 3.03 million to 13.19 million shares. And Dimensional Fund Advisors LP has lifted its position by 11.72% or 1.27 million shares – to 12.14 million shares.
Currently, there are 366.00M common shares owned by the public and among those 212.23M shares have been available to trade.
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Insiders at the company have transacted a total of 83 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 41 of these insider trades were purchases, accounting for 1,473,120 shares. Insider sales of the common stock occurred on 42 occasions, with total insider shares sold totaling 1,299,745 shares.
The top 3 mutual fund holders in Gap, Inc. are Dodge & Cox Stock Fund, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market ETF. Dodge & Cox Stock Fund owns 26.88 million shares of the company’s stock, all valued at over $562.03 million. The company bought an additional 0.15 million shares recently to bring their total holdings to about 7.25% of the shares outstanding. iShares Core S&P Mid Cap ETF bought 5895.0 shares to see its total holdings expand to 6.52 million shares valued at over $136.29 million and representing 1.76% of the shares outstanding. Vanguard Total Stock Market ETF sold -2.93 million shares to bring its total holdings to over 5.86 million shares at a value of $122.43 million. Vanguard Total Stock Market ETF now owns shares totaling to 1.58% of the shares outstanding.
The company’s stock has a 5-day price change of -4.34% and 60.22% over the past three months. GPS shares are trading -9.28% year to date (YTD), with the 12-month market performance up to 43.39% higher. It has a 12-month low price of $7.22 and touched a high of $22.08 over the same period. GPS has an average intraday trading volume of 9.20 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.54%, -2.67%, and 53.33% respectively.
Institutional ownership of Gap, Inc. (NYSE: GPS) shares accounts for 64.69% of the company’s 366.00M shares outstanding. Mutual fund holders own 33.78%, while other institutional holders and individual stakeholders account for 89.02% and 31.85% respectively.
It has a market capitalization of $7.03B and a beta (3y monthly) value of 2.24. The stock’s trailing 12-month PE ratio is 186.53, while the earnings-per-share (ttm) stands at $0.10. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.92% over the week and 3.21% over the month.
Analysts forecast that Gap, Inc. (GPS) will achieve an EPS of $0.22 for the current quarter, $0.11 for the next quarter and $1.22 for 2025. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.34. Comparatively, EPS for the current quarter was -$0.75 a year ago. Earnings per share for the fiscal year are expected to increase by 392.27%, and 4.14% over the next financial year.
Looking at the support for the GPS, a number of firms have released research notes about the stock. Telsey Advisory Group stated their Market Perform rating for the stock in a research note on November 17, 2023, with the firm’s price target at $11-$17.
