Fintel reports that BlackRock has filed a 13G form with the SEC disclosing ownership of 23.33MM shares of Gap Inc (GPS). This represents 6.4% of the company.
In their previous filing dated June 9, 2020 they reported 16.05MM shares and 4.30% of the company, an increase in shares of 45.36% and an increase in total ownership of 2.10% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 17.32% Downside
As of February 3, 2023, the average one-year price target for Gap is $12.24. The forecasts range from a low of $7.07 to a high of $18.90. The average price target represents a decrease of 17.32% from its latest reported closing price of $14.80.
The projected annual revenue for Gap is $15,893MM, a decrease of 0.03%. The projected annual EPS is $-0.12.
Fund Sentiment
There are 696 funds or institutions reporting positions in Gap. This is a decrease of 58 owner(s) or 7.69%.
Average portfolio weight of all funds dedicated to US:GPS is 0.1070%, an increase of 12.3517%. Total shares owned by institutions decreased in the last three months by 4.76% to 263,790K shares.
What are large shareholders doing?
Dodge & Cox holds 38,268,126 shares representing 10.48% ownership of the company. In it's prior filing, the firm reported owning 38,608,626 shares, representing a decrease of 0.89%. The firm increased its portfolio allocation in GPS by 8.10% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 26,631,900 shares representing 7.30% ownership of the company. In it's prior filing, the firm reported owning 26,573,900 shares, representing an increase of 0.22%. The firm increased its portfolio allocation in GPS by 7.52% over the last quarter.
Pzena Investment Management holds 11,738,163 shares representing 3.22% ownership of the company. In it's prior filing, the firm reported owning 9,999,535 shares, representing an increase of 14.81%. The firm increased its portfolio allocation in GPS by 29.22% over the last quarter.
Jpmorgan Chase & holds 7,821,133 shares representing 2.14% ownership of the company. In it's prior filing, the firm reported owning 8,109,804 shares, representing a decrease of 3.69%. The firm decreased its portfolio allocation in GPS by 0.94% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,819,321 shares representing 2.14% ownership of the company. In it's prior filing, the firm reported owning 7,622,939 shares, representing an increase of 2.51%. The firm increased its portfolio allocation in GPS by 6.53% over the last quarter.
Gap Declares $0.15 Dividend
Gap said on November 8, 2022 that its board of directors declared a regular quarterly dividend of $0.15 per share ($0.60 annualized). Shareholders of record as of January 3, 2023 received the payment on January 25, 2023. Previously, the company paid $0.15 per share.
At the current share price of $14.80 / share, the stock's dividend yield is 4.05%. Looking back five years and taking a sample every week, the average dividend yield has been 4.03%, the lowest has been 1.32%, and the highest has been 7.16%. The standard deviation of yields is 1.46 (n=179).
The current dividend yield is 0.02 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 3.98. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.38%.
Gap Background Information
(This description is provided by the company.)
Gap Inc., a collection of purpose-led lifestyle brands, is a leading global retailer offering clothing, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, and Janie and Jack brands. Fiscal year 2019 net sales were $16.4 billion. Gap Inc. products are available for purchase worldwide through company-operated stores, franchise stores, and e-commerce sites.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
