GAP (NYSE:GPS) Shares Down 7.2%

Gap Inc (NYSE:GPS)’s stock price was down 7.2% during mid-day trading on Thursday . The stock traded as low as $16.52 and last traded at $15.34, approximately 6,163,914 shares traded hands during mid-day trading. An increase of 6% from the average daily volume of 5,790,397 shares. The stock had previously closed at $16.53.

Several equities research analysts recently issued reports on GPS shares. Guggenheim reiterated a “hold” rating on shares of GAP in a research note on Sunday, April 21st. Argus reiterated a “hold” rating on shares of GAP in a research note on Tuesday, June 4th. ValuEngine downgraded shares of GAP from a “sell” rating to a “strong sell” rating in a research note on Monday, May 13th. Nomura cut their target price on shares of GAP from $22.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Finally, MKM Partners cut their target price on shares of GAP from $33.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, June 11th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $24.73.

The company’s 50-day simple moving average is $18.30 and its 200-day simple moving average is $22.41. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.49 and a quick ratio of 0.70. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of 5.93, a P/E/G ratio of 0.95 and a beta of 0.71.

GAP (NYSE:GPS) last issued its quarterly earnings data on Thursday, May 30th. The apparel retailer reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.07). The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.78 billion. GAP had a return on equity of 26.73% and a net margin of 6.46%. The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business earned $0.42 earnings per share. Research analysts expect that Gap Inc will post 2.05 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th were given a dividend of $0.2425 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $0.97 annualized dividend and a yield of 6.32%. GAP’s dividend payout ratio (DPR) is presently 37.45%.

In other GAP news, CEO Mcneil S. Fiske, Jr. sold 16,183 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $18.00, for a total transaction of $291,294.00. Following the completion of the sale, the chief executive officer now directly owns 32,500 shares in the company, valued at $585,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 37.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of GPS. Vanguard Group Inc. increased its holdings in shares of GAP by 0.7% during the second quarter. Vanguard Group Inc. now owns 28,829,631 shares of the apparel retailer’s stock worth $518,068,000 after purchasing an additional 210,846 shares during the period. BlackRock Inc. increased its holdings in shares of GAP by 6.9% during the second quarter. BlackRock Inc. now owns 21,828,899 shares of the apparel retailer’s stock worth $392,265,000 after purchasing an additional 1,415,944 shares during the period. Invesco Ltd. increased its holdings in shares of GAP by 14.0% during the second quarter. Invesco Ltd. now owns 7,517,993 shares of the apparel retailer’s stock worth $135,098,000 after purchasing an additional 922,167 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of GAP by 31.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,975,433 shares of the apparel retailer’s stock worth $102,406,000 after purchasing an additional 960,583 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of GAP by 43.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,053,569 shares of the apparel retailer’s stock worth $54,873,000 after purchasing an additional 923,316 shares during the period. Hedge funds and other institutional investors own 57.67% of the company’s stock.

GAP Company Profile (NYSE:GPS)

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, Intermix, and Hill City 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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