Vetr upgraded shares of Gap Inc. (NYSE:GPS) from a hold rating to a buy rating in a report released on Monday morning. They currently have $26.76 target price on the apparel retailer’s stock.
Several other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Gap from a buy rating to a hold rating in a research note on Tuesday, November 22nd. Deutsche Bank AG reaffirmed a hold rating and set a $23.00 target price (down previously from $25.00) on shares of Gap in a research note on Monday, November 21st. BMO Capital Markets reaffirmed a hold rating on shares of Gap in a research note on Saturday, November 19th. Cowen and Company set a $25.00 target price on shares of Gap and gave the stock a hold rating in a research note on Saturday, November 19th. Finally, Bank of America Corp. reaffirmed a sell rating on shares of Gap in a research note on Friday, November 18th. Four analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $24.84.
Gap (NYSE:GPS) opened at 25.48 on Monday. The stock has a 50 day moving average of $26.98 and a 200-day moving average of $23.57. The stock has a market cap of $10.17 billion, a P/E ratio of 15.17 and a beta of 1.06. Gap has a 12 month low of $17.00 and a 12 month high of $30.74.
Gap (NYSE:GPS) last announced its earnings results on Thursday, November 17th. The apparel retailer reported $0.60 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. The company earned $3.80 billion during the quarter, compared to analyst estimates of $3.74 billion. Gap had a net margin of 4.33% and a return on equity of 32.19%. Gap’s revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 earnings per share. On average, equities analysts forecast that Gap will post $1.94 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Wednesday, January 4th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Friday, December 30th. Gap’s dividend payout ratio (DPR) is presently 55.09%.
In other news, President Jeff Kirwan sold 11,406 shares of Gap stock in a transaction on Monday, November 21st. The stock was sold at an average price of $25.38, for a total transaction of $289,484.28. Following the completion of the transaction, the president now owns 19,094 shares of the company’s stock, valued at approximately $484,605.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Paul Joseph Chapman sold 6,764 shares of Gap stock in a transaction on Monday, November 21st. The stock was sold at an average price of $24.99, for a total value of $169,032.36. The disclosure for this sale can be found here. Insiders own 30.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blair William & Co. IL increased its position in Gap by 0.5% in the second quarter. Blair William & Co. IL now owns 18,164 shares of the apparel retailer’s stock valued at $385,000 after buying an additional 84 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its position in Gap by 0.9% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 18,783 shares of the apparel retailer’s stock valued at $417,000 after buying an additional 166 shares during the period. Charter Trust Co. increased its position in Gap by 1.6% in the second quarter. Charter Trust Co. now owns 11,374 shares of the apparel retailer’s stock valued at $241,000 after buying an additional 175 shares during the period. World Asset Management Inc increased its position in Gap by 0.9% in the third quarter. World Asset Management Inc now owns 25,916 shares of the apparel retailer’s stock valued at $576,000 after buying an additional 223 shares during the period. Finally, Advantus Capital Management Inc increased its position in Gap by 1.4% in the second quarter. Advantus Capital Management Inc now owns 21,945 shares of the apparel retailer’s stock valued at $466,000 after buying an additional 305 shares during the period. 58.00% of the stock is owned by institutional investors and hedge funds.
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.