Legal & General Group Plc acquired a new stake in shares of The Gap, Inc. (NYSE:GAP – Free Report) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 345,719 shares of the company’s stock, valued at approximately $6,458,000.
A number of other large investors have also bought and sold shares of the company. Amundi bought a new stake in shares of GAP in the first quarter valued at $259,000. EverSource Wealth Advisors LLC grew its stake in shares of GAP by 177.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,016 shares of the company’s stock worth $153,000 after acquiring an additional 4,483 shares during the period. Jump Financial LLC purchased a new stake in GAP in the 2nd quarter worth about $612,000. California State Teachers Retirement System increased its holdings in GAP by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 226,506 shares of the company’s stock worth $4,940,000 after acquiring an additional 1,703 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in GAP by 42.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,407,809 shares of the company’s stock valued at $96,134,000 after acquiring an additional 1,318,322 shares during the period. 58.81% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts have weighed in on GAP shares. TD Cowen increased their target price on shares of GAP from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Wells Fargo & Company boosted their price target on shares of GAP from $22.00 to $23.00 and gave the company a “cautious” rating in a research report on Friday, August 28th. JPMorgan Chase & Co. restated a “neutral” rating and set a $27.00 price target (down from $35.00) on shares of GAP in a research note on Friday, May 29th. Weiss Ratings downgraded shares of GAP from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Finally, Barclays lifted their price objective on shares of GAP from $20.00 to $23.00 and gave the company an “equal weight” rating in a research note on Friday, August 28th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $27.36.
GAP Trading Up 0.3%
Shares of GAP stock opened at $22.07 on Thursday. The Gap, Inc. has a 12-month low of $18.11 and a 12-month high of $29.36. The company has a market cap of $7.75 billion, a price-to-earnings ratio of 6.59, a PEG ratio of 0.93 and a beta of 2.08. The company has a current ratio of 1.82, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The company’s 50-day moving average price is $20.15 and its 200-day moving average price is $22.73.
GAP (NYSE:GAP – Get Free Report) last issued its quarterly earnings data on Thursday, August 27th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.69 billion. GAP had a net margin of 8.14% and a return on equity of 19.72%. GAP’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.57 earnings per share. GAP has set its FY 2026 guidance at 2.350-2.450 EPS. On average, equities analysts expect that The Gap, Inc. will post 2.41 earnings per share for the current fiscal year.
GAP Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be issued a $0.175 dividend. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $0.70 annualized dividend and a dividend yield of 3.2%. GAP’s dividend payout ratio is presently 20.90%.
About GAP
Gap Inc is a global specialty retailer renowned for its portfolio of apparel and accessories brands, including Gap, Banana Republic, Old Navy and Athleta. The company designs, sources and markets clothing across a broad price range and style spectrum, catering to men, women and children. Its offerings extend from everyday wardrobe essentials such as denim, tees and outerwear to performance and lifestyle pieces, reflecting each brand’s distinct identity and price point.
Founded in San Francisco in 1969 by Donald and Doris Fisher, Gap Inc has grown into one of the world’s largest apparel companies.
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