JPMorgan Chase & Co. reissued their neutral rating on shares of GAP (NYSE:GPS) in a report released on Wednesday morning. The brokerage currently has a $28.00 price objective on the apparel retailer’s stock, up from their prior price objective of $24.00.
GPS has been the topic of several other reports. Oppenheimer set a $33.00 price objective on shares of GAP and gave the company a buy rating in a report on Monday, October 30th. Canaccord Genuity reaffirmed a buy rating on shares of GAP in a report on Thursday, December 14th. ValuEngine raised shares of GAP from a buy rating to a strong-buy rating in a report on Thursday, November 30th. Royal Bank of Canada set a $26.00 price target on GAP and gave the company a hold rating in a research report on Monday, October 30th. Finally, Citigroup cut GAP from a neutral rating to a sell rating and decreased their price target for the company from $32.50 to $25.00 in a research report on Thursday, November 30th. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. GAP currently has a consensus rating of Hold and an average target price of $28.97.
Shares of GAP (NYSE:GPS) opened at $32.22 on Wednesday. The company has a market cap of $12,291.77, a PE ratio of 15.57, a price-to-earnings-growth ratio of 1.72 and a beta of 0.86. GAP has a fifty-two week low of $21.02 and a fifty-two week high of $35.68. The company has a current ratio of 1.73, a quick ratio of 0.77 and a debt-to-equity ratio of 0.41.
In other news, major shareholder John J. Fisher sold 850,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $32.32, for a total transaction of $27,472,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder John J. Fisher sold 650,000 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $30.41, for a total value of $19,766,500.00. Following the sale, the insider now directly owns 2,322,329 shares of the company’s stock, valued at approximately $70,622,024.89. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,553,887 shares of company stock valued at $48,946,363. Insiders own 27.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. purchased a new stake in GAP in the fourth quarter worth $85,153,000. Skandinaviska Enskilda Banken AB publ lifted its stake in GAP by 305.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 2,624,032 shares of the apparel retailer’s stock worth $77,488,000 after acquiring an additional 1,976,200 shares during the period. Renaissance Technologies LLC purchased a new stake in GAP in the fourth quarter worth $56,689,000. TIAA CREF Investment Management LLC lifted its stake in GAP by 32.5% in the fourth quarter. TIAA CREF Investment Management LLC now owns 5,231,621 shares of the apparel retailer’s stock worth $178,189,000 after acquiring an additional 1,283,314 shares during the period. Finally, American International Group Inc. lifted its stake in GAP by 6.9% in the fourth quarter. American International Group Inc. now owns 17,739,940 shares of the apparel retailer’s stock worth $604,222,000 after acquiring an additional 1,142,639 shares during the period. 56.64% of the stock is owned by hedge funds and other institutional investors.
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GAP Company Profile
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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