Rbs Partners Lowers stake in Gap Inc (GPS)

Gap Inc (GPS) : Rbs Partners reduced its stake in Gap Inc by 23.56% during the most recent quarter end. The investment management company now holds a total of 3,256,272 shares of Gap Inc which is valued at $81,374,237 after selling 1,003,791 shares in Gap Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Gap Inc makes up approximately 7.25% of Rbs Partners’s portfolio.

Other Hedge Funds, Including , Paloma Partners Management Co reduced its stake in GPS by selling 24,982 shares or 47.29% in the most recent quarter. The Hedge Fund company now holds 27,845 shares of GPS which is valued at $695,847. Gap Inc makes up approx 0.03% of Paloma Partners Management Co’s portfolio. Capital Fund Management S.a. sold out all of its stake in GPS during the most recent quarter. The investment firm sold 544,610 shares of GPS which is valued $13,931,124.Huntington National Bank reduced its stake in GPS by selling 766 shares or 22.35% in the most recent quarter. The Hedge Fund company now holds 2,661 shares of GPS which is valued at $68,068. Kanaly Trust Co sold out all of its stake in GPS during the most recent quarter. The investment firm sold 37 shares of GPS which is valued $901. Adams Asset Advisors added GPS to its portfolio by purchasing 273,312 company shares during the most recent quarter which is valued at $6,619,617. Gap Inc makes up approx 1.10% of Adams Asset Advisors’s portfolio.

Gap Inc closed down -0.32 points or -1.29% at $24.55 with 70,00,463 shares getting traded on Thursday. Post opening the session at $25, the shares hit an intraday low of $24.345 and an intraday high of $25.02 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Gap Inc reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 18, 2016. Analyst had a consensus of $0.59. The company had revenue of $3851.00 million for the quarter, compared to analysts expectations of $3778.31 million. The company’s revenue was down -1.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.64 EPS.

Investors should note that on Aug 11, 2016, Gap Inc announced a cash dividend of $0.2300. The company’s management has announced Oct 3, 2016 as the ex-dividend date and fixed the record date on Oct 5, 2016. The payable date has been fixed on Oct 26, 2016.

Many Wall Street Analysts have commented on Gap Inc. Company shares were Reiterated by Wedbush on Aug 19, 2016 to “Neutral”, Firm has raised the Price Target to $ 25 from a previous price target of $20 .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 .

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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