Rafferty Asset Management adds Gap Inc (GPS) to its portfolio

Gap Inc (GPS) : Rafferty Asset Management added new position in Gap Inc during the most recent quarter end. The investment management firm now holds 170,154 shares of Gap Inc which is valued at $5,121,635 , the company said in a statement filed on Nov 14, 2016 with the SEC.Gap Inc makes up approximately 0.21% of Rafferty Asset Management’s portfolio.

Other Hedge Funds, Including , Pacad Investment Ltd. added GPS to its portfolio by purchasing 9,523 company shares during the most recent quarter which is valued at $286,642. Gap Inc makes up approx 0.04% of Pacad Investment Ltd.’s portfolio. Princeton Alpha Management Lp added GPS to its portfolio by purchasing 21,174 company shares during the most recent quarter which is valued at $605,153. Gap Inc makes up approx 0.11% of Princeton Alpha Management Lp’s portfolio.Canada Pension Plan Investment Board reduced its stake in GPS by selling 53,210 shares or 18.18% in the most recent quarter. The Hedge Fund company now holds 239,500 shares of GPS which is valued at $6,459,315. Gap Inc makes up approx 0.02% of Canada Pension Plan Investment Board’s portfolio.

Gap Inc closed down -5.1 points or -16.61% at $25.61 with 3,19,41,018 shares getting traded on Monday. Post opening the session at $28.25, the shares hit an intraday low of $25.31 and an intraday high of $28.38 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 $0.60 EPS for the quarter, based on the information available during the earnings call on Nov 17, 2016. Analyst had a consensus estimate of $0.60. The company had revenue of $3798.00 million for the quarter, compared to analysts expectations of $3730.39 million. The company’s revenue was down -1.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.63 EPS.

Investors should note that on Nov 10, 2016, Gap Inc announced a cash dividend of $0.2300. The company’s management has announced Dec 30, 2016 as the ex-dividend date and fixed the record date on Jan 4, 2017. The payable date has been fixed on Jan 25, 2017.

Many Wall Street Analysts have commented on Gap Inc. Company shares were Reiterated by Mizuho on Nov 18, 2016 to “Neutral”, Firm has raised the Price Target to $ 28 from a previous price target of $26 .Gap Inc was Downgraded by Citigroup to ” Sell” on Nov 18, 2016. Company shares were Reiterated by Wedbush on Nov 18, 2016 to “Neutral”, Firm has raised the Price Target to $ 26 from a previous price target of $25 .

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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