First Hawaiian Bank Sells 19,882 Shares of The Gap, Inc. (NYSE:GPS)

First Hawaiian Bank decreased its position in The Gap, Inc. (NYSE:GPS) by 29.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,976 shares of the apparel retailer’s stock after selling 19,882 shares during the period. First Hawaiian Bank’s holdings in GAP were worth $1,122,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. New York State Teachers Retirement System lifted its position in shares of GAP by 1.2% during the fourth quarter. New York State Teachers Retirement System now owns 263,675 shares of the apparel retailer’s stock worth $5,513,000 after acquiring an additional 3,109 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in GAP by 11.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 41,265 shares of the apparel retailer’s stock worth $863,000 after purchasing an additional 4,200 shares during the period. Pinkerton Retirement Specialists LLC purchased a new position in GAP during the fourth quarter valued at approximately $614,000. GAMMA Investing LLC bought a new position in shares of GAP in the fourth quarter worth $42,000. Finally, BNP Paribas Financial Markets increased its stake in GAP by 33.0% in the 4th quarter. BNP Paribas Financial Markets now owns 367,130 shares of the apparel retailer’s stock worth $7,677,000 after acquiring an additional 91,151 shares during the last quarter. 58.81% of the stock is owned by hedge funds and other institutional investors.

GAP Stock Up 3.3 %

NYSE GPS traded up $0.70 on Tuesday, hitting $21.75. 2,930,611 shares of the stock traded hands, compared to its average volume of 7,726,440. The company has a market capitalization of $8.16 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 1.40 and a beta of 2.38. The stock has a 50-day moving average of $23.99 and a 200 day moving average of $22.47. The company has a current ratio of 1.50, a quick ratio of 0.80 and a debt-to-equity ratio of 0.55. The Gap, Inc. has a twelve month low of $9.38 and a twelve month high of $30.75.

GAP (NYSE:GPS) last announced its quarterly earnings data on Thursday, May 30th. The apparel retailer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.27. GAP had a return on equity of 27.57% and a net margin of 4.52%. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same period last year, the business posted $0.01 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, analysts expect that The Gap, Inc. will post 1.78 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Tracy Gardner sold 2,934 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $23.48, for a total transaction of $68,890.32. Following the completion of the transaction, the director now directly owns 51,901 shares in the company, valued at approximately $1,218,635.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Tracy Gardner sold 2,934 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $23.48, for a total value of $68,890.32. Following the sale, the director now owns 51,901 shares of the company’s stock, valued at $1,218,635.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Katrina O’connell sold 20,000 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $29.01, for a total transaction of $580,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 23,132 shares of company stock worth $654,003 in the last ninety days. Corporate insiders own 30.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GPS shares. Evercore ISI lifted their price objective on GAP from $24.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Telsey Advisory Group increased their price target on GAP from $22.00 to $29.00 and gave the company a “market perform” rating in a report on Friday, May 31st. BMO Capital Markets increased their price target on shares of GAP from $18.00 to $23.00 and gave the stock a “market perform” rating in a research report on Friday, May 31st. Morgan Stanley upgraded GAP from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $27.00 to $29.00 in a research note on Thursday, July 18th. Finally, Barclays boosted their target price on shares of GAP from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, June 3rd. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, GAP presently has an average rating of “Moderate Buy” and an average price target of $26.51.

GAP Company Profile

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 adult apparel and accessories; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.