Robert W. Baird set a $28.00 price objective on GAP (NYSE:GPS) in a research report report published on Friday, November 17th. The brokerage currently has a hold rating on the apparel retailer’s stock.
A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded GAP from a buy rating to a hold rating in a research report on Monday, October 23rd. Royal Bank Of Canada reaffirmed a hold rating and set a $26.00 price objective on shares of GAP in a report on Monday, September 18th. ValuEngine raised GAP from a hold rating to a buy rating in a report on Thursday, September 7th. Oppenheimer set a $33.00 price objective on GAP and gave the company a buy rating in a report on Monday, October 30th. Finally, Citigroup raised GAP from a sell rating to a neutral rating and lifted their price objective for the company from $22.00 to $24.00 in a report on Friday, September 1st. Four analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $27.94.
GAP (NYSE GPS) traded up $2.11 during mid-day trading on Friday, reaching $34.09. The company had a trading volume of 9,487,356 shares, compared to its average volume of 6,004,829. GAP has a fifty-two week low of $21.02 and a fifty-two week high of $34.30. The firm has a market capitalization of $12,435.65, a P/E ratio of 15.75, a PEG ratio of 1.90 and a beta of 0.95. The company has a current ratio of 1.73, a quick ratio of 0.77 and a debt-to-equity ratio of 0.41.
GAP (NYSE:GPS) last released its earnings results on Thursday, November 16th. The apparel retailer reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. GAP had a return on equity of 27.47% and a net margin of 5.57%. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period last year, the business earned $0.60 earnings per share. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. research analysts predict that GAP will post 2.1 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 3rd will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Tuesday, January 2nd. GAP’s payout ratio is currently 42.40%.
In other news, CEO Sonia Syngal sold 1,935 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $25.79, for a total value of $49,903.65. Following the transaction, the chief executive officer now directly owns 39,656 shares of the company’s stock, valued at approximately $1,022,728.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William Sydney Fisher sold 666,849 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $27.99, for a total value of $18,665,103.51. Following the completion of the transaction, the director now directly owns 12,237,873 shares in the company, valued at $342,538,065.27. The disclosure for this sale can be found here. Insiders sold a total of 2,206,879 shares of company stock worth $67,109,508 over the last three months. 27.30% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in GAP by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 23,743,881 shares of the apparel retailer’s stock worth $522,127,000 after purchasing an additional 643,396 shares during the last quarter. BlackRock Inc. raised its position in GAP by 1.5% in the 2nd quarter. BlackRock Inc. now owns 23,076,989 shares of the apparel retailer’s stock worth $507,464,000 after purchasing an additional 338,876 shares during the last quarter. Bank of New York Mellon Corp raised its position in GAP by 10.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 10,710,283 shares of the apparel retailer’s stock worth $316,275,000 after purchasing an additional 1,030,160 shares during the last quarter. Franklin Resources Inc. raised its position in GAP by 0.3% in the 2nd quarter. Franklin Resources Inc. now owns 5,617,494 shares of the apparel retailer’s stock worth $123,529,000 after purchasing an additional 15,504 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in GAP by 27.7% in the 3rd quarter. APG Asset Management N.V. now owns 4,652,508 shares of the apparel retailer’s stock worth $137,389,000 after purchasing an additional 1,009,400 shares during the last quarter. Hedge funds and other institutional investors own 54.78% of the company’s stock.
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The Gap, Inc (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, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.
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