Gap Inc (NYSE:GPS) declared a quarterly dividend on Wednesday, May 23rd, RTT News reports. Investors of record on Wednesday, July 11th will be given a dividend of 0.2425 per share by the apparel retailer on Wednesday, August 1st. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Tuesday, July 10th.
GAP has increased its dividend payment by an average of 2.3% annually over the last three years. GAP has a payout ratio of 43.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect GAP to earn $2.69 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 34.2%.
NYSE GPS opened at $32.24 on Thursday. The company has a current ratio of 2.03, a quick ratio of 1.05 and a debt-to-equity ratio of 0.39. GAP has a 12 month low of $21.02 and a 12 month high of $35.68. The company has a market cap of $12.49 billion, a P/E ratio of 15.14, a P/E/G ratio of 1.56 and a beta of 0.82.
GAP (NYSE:GPS) last released its quarterly earnings data on Thursday, May 24th. The apparel retailer reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.04). GAP had a return on equity of 28.04% and a net margin of 5.36%. The firm had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same period in the previous year, the firm earned $0.36 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. sell-side analysts predict that GAP will post 2.59 EPS for the current fiscal year.
GPS has been the topic of a number of research reports. Zacks Investment Research downgraded GAP from a “hold” rating to a “sell” rating in a research note on Monday, June 4th. SunTrust Banks reduced their price objective on GAP to $29.00 and set a “hold” rating on the stock in a research note on Friday, May 25th. Deutsche Bank reduced their price objective on GAP from $34.00 to $33.00 and set a “hold” rating on the stock in a research note on Friday, May 25th. Credit Suisse Group initiated coverage on GAP in a research report on Monday, March 12th. They set a “neutral” rating and a $35.00 target price on the stock. Finally, ValuEngine raised GAP from a “hold” rating to a “buy” rating in a research report on Thursday, May 24th. Three analysts have rated the stock with a sell rating, twenty have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.64.
In related news, Director William Sydney Fisher sold 1,000,000 shares of the business’s stock in a transaction on Tuesday, June 19th. The stock was sold at an average price of $32.37, for a total transaction of $32,370,000.00. Following the completion of the transaction, the director now owns 10,760,396 shares in the company, valued at approximately $348,314,018.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 27.30% of the stock is owned by insiders.
The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, and Intermix brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.
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