Contrarius Investment Management Ltd adds Gap Inc (GPS) to its portfolio

Gap Inc (GPS) : Contrarius Investment Management Ltd added new position in Gap Inc during the most recent quarter end. The investment management firm now holds 426,424 shares of Gap Inc which is valued at $10,664,864 , the company said in a statement filed on Aug 3, 2016 with the SEC.Gap Inc makes up approximately 0.83% of Contrarius Investment Management Ltd’s portfolio.

Other Hedge Funds, Including , Utah Retirement Systems reduced its stake in GPS by selling 600 shares or 1.46% in the most recent quarter. The Hedge Fund company now holds 40,503 shares of GPS which is valued at $1,012,980. Gap Inc makes up approx 0.03% of Utah Retirement Systems’s portfolio.Spot Trading L.l.c reduced its stake in GPS by selling 9,353 shares or 36.63% in the most recent quarter. The Hedge Fund company now holds 16,181 shares of GPS which is valued at $404,687. Gap Inc makes up approx 0.05% of Spot Trading L.l.c’s portfolio.Zurcher Kantonalbank (zurich Cantonalbank) boosted its stake in GPS in the latest quarter, The investment management firm added 320 additional shares and now holds a total of 20,365 shares of Gap Inc which is valued at $509,329. Gap Inc makes up approx 0.01% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio. Grimes Company sold out all of its stake in GPS during the most recent quarter. The investment firm sold 196,307 shares of GPS which is valued $5,021,533.

Gap Inc closed down -0.02 points or -0.08% at $25.62 with 41,65,624 shares getting traded on Monday. Post opening the session at $25.68, the shares hit an intraday low of $25.56 and an intraday high of $25.87 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Gap Inc reported $0.32 EPS for the quarter, based on the information available during the earnings call on May 19, 2016. Analyst had a consensus estimate of $0.32. The company had revenue of $3438.00 million for the quarter, compared to analysts expectations of $3542.07 million. The company’s revenue was down -6.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.56 EPS.

Many Wall Street Analysts have commented on Gap Inc. Company shares were Reiterated by RBC Capital Mkts on Aug 9, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 23 from a previous price target of $20 .Company shares were Upgraded by Mizuho on Aug 9, 2016 to ” Neutral”, Firm has raised the Price Target to $ 24 from a previous price target of $17 .Wolfe Research Upgraded Gap Inc on Jul 26, 2016 to ” Outperform”, Price Target of the shares are set at $30.

The 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 Piperlime Athleta and Intermix brands. In addition to operating in the specialty outlet online and franchise channels Gap Inc. is an apparel retailer in using omni-channel capabilities for digital world and physical stores. Its omni-channel services include order-in-store reserve-in-store find-in-store and ship-from-store that are tailored across its portfolio of brands. Gap includes GapKids babyGap GapMaternity GapBody and GapFit collections. It also offers handbags shoes jewelry eyewear and personal care products among others. It has Company-operated stores in the United States Canada the United Kingdom France Ireland Japan Italy China and Hong Kong. It operates Gap Banana Republic and Old Navy stores throughout Asia Australia Europe Latin America the Middle East and Africa.

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