The Gap, Inc. (NYSE:GPS) Shares Sold by First Hawaiian Bank

First Hawaiian Bank cut its holdings in shares of The Gap, Inc. (NYSE:GPS) by 29.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,976 shares of the apparel retailer’s stock after selling 19,882 shares during the quarter. First Hawaiian Bank’s holdings in GAP were worth $1,122,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GPS. Hennessy Advisors Inc. lifted its holdings in GAP by 14.1% in the first quarter. Hennessy Advisors Inc. now owns 2,305,600 shares of the apparel retailer’s stock valued at $63,519,000 after acquiring an additional 285,000 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of GAP by 33.0% during the 4th quarter. BNP Paribas Financial Markets now owns 367,130 shares of the apparel retailer’s stock valued at $7,677,000 after buying an additional 91,151 shares during the period. New York State Teachers Retirement System increased its stake in GAP by 2.7% during the first quarter. New York State Teachers Retirement System now owns 270,730 shares of the apparel retailer’s stock valued at $7,459,000 after purchasing an additional 7,055 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of 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 last quarter. Finally, Pinkerton Retirement Specialists LLC increased its position in GAP by 14.4% in the 1st quarter. Pinkerton Retirement Specialists LLC now owns 33,597 shares of the apparel retailer’s stock valued at $926,000 after acquiring an additional 4,240 shares during the period. Institutional investors and hedge funds own 58.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Robert W. Baird upped their price target on shares of GAP from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, May 31st. Evercore ISI increased their price objective on GAP from $24.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. StockNews.com downgraded shares of GAP from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 4th. Bank of America upgraded shares of GAP from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $18.50 to $25.00 in a report on Wednesday, July 31st. Finally, Barclays boosted their price objective on shares of GAP from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.51.

Insider Activity

In related news, CFO Katrina O’connell sold 20,000 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $29.01, for a total transaction of $580,200.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other GAP news, Director Tracy Gardner sold 2,934 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $23.48, for a total value of $68,890.32. Following the completion of the transaction, the director now owns 51,901 shares of the company’s stock, valued at approximately $1,218,635.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Katrina O’connell sold 20,000 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $29.01, for a total value of $580,200.00. The disclosure for this sale can be found here. Insiders have sold 23,132 shares of company stock valued at $654,003 in the last 90 days. Insiders own 30.81% of the company’s stock.

GAP Stock Performance

NYSE:GPS traded up $0.70 during trading on Tuesday, reaching $21.75. The company’s stock had a trading volume of 2,930,611 shares, compared to its average volume of 7,726,440. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 1.40 and a beta of 2.38. The Gap, Inc. has a 12 month low of $9.38 and a 12 month high of $30.75. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.80 and a current ratio of 1.50. The firm has a 50 day moving average of $23.99 and a 200-day moving average of $22.47.

GAP (NYSE:GPS) last released its earnings results on Thursday, May 30th. The apparel retailer reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.27. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.29 billion. GAP had a net margin of 4.52% and a return on equity of 27.57%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.01 EPS. Research analysts expect that The Gap, Inc. will post 1.78 EPS for the current fiscal year.

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.