Gap Inc (NYSE:GPS) has earned an average rating of “Hold” from the twenty-eight analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nineteen have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $33.77.
A number of research firms have issued reports on GPS. ValuEngine downgraded GAP from a “hold” rating to a “sell” rating in a research note on Wednesday. Citigroup raised GAP from a “sell” rating to a “neutral” rating and set a $28.00 price objective on the stock in a research note on Monday, August 27th. They noted that the move was a valuation call. Barclays set a $39.00 price objective on GAP and gave the stock a “buy” rating in a research note on Saturday, August 25th. JPMorgan Chase & Co. reduced their price objective on GAP from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, August 24th. Finally, B. Riley reduced their price objective on GAP from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, August 24th.
In other news, Director William Sydney Fisher sold 1,000,000 shares of GAP stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $32.37, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. 27.30% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in GAP by 0.8% during the 1st quarter. BlackRock Inc. now owns 17,263,705 shares of the apparel retailer’s stock valued at $538,626,000 after acquiring an additional 133,362 shares during the period. JPMorgan Chase & Co. boosted its holdings in GAP by 25.8% during the 1st quarter. JPMorgan Chase & Co. now owns 12,542,927 shares of the apparel retailer’s stock valued at $391,339,000 after acquiring an additional 2,575,906 shares during the period. Wells Fargo & Company MN boosted its holdings in GAP by 41.9% during the 2nd quarter. Wells Fargo & Company MN now owns 4,137,469 shares of the apparel retailer’s stock valued at $134,013,000 after acquiring an additional 1,221,383 shares during the period. Northern Trust Corp boosted its holdings in GAP by 0.9% during the 1st quarter. Northern Trust Corp now owns 3,703,323 shares of the apparel retailer’s stock valued at $115,543,000 after acquiring an additional 32,088 shares during the period. Finally, Bank of Montreal Can boosted its holdings in GAP by 5.5% during the 2nd quarter. Bank of Montreal Can now owns 3,075,518 shares of the apparel retailer’s stock valued at $99,617,000 after acquiring an additional 160,961 shares during the period. Hedge funds and other institutional investors own 58.04% of the company’s stock.
Shares of GPS opened at $27.78 on Friday. The company has a market cap of $10.91 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 1.22 and a beta of 0.62. GAP has a 12-month low of $25.36 and a 12-month high of $35.68. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.96.
GAP (NYSE:GPS) last released its quarterly earnings data on Thursday, August 23rd. The apparel retailer reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.04. GAP had a return on equity of 29.25% and a net margin of 5.43%. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the company posted $0.58 EPS. The company’s revenue was up 7.5% compared to the same quarter last year. equities analysts expect that GAP will post 2.59 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Wednesday, October 10th will be issued a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend is Tuesday, October 9th. GAP’s dividend payout ratio (DPR) is 45.54%.
GAP Company Profile
Gap, Inc operates as a global apparel retail company. It offers apparel, accessories, and personal care products for men, women and children. The company operates through segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Intermix. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody and GapFit collections.
Read More: Compound Annual Growth Rate (CAGR)
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