Gap Inc (GPS) PT Set at $34.00 by Jefferies Group LLC

Jefferies Group LLC set a $34.00 price target on Gap Inc (NYSE:GPS) in a research note issued to investors on Thursday, May 4th. The brokerage currently has a buy rating on the apparel retailer’s stock.

A number of other analysts also recently commented on GPS. Vetr downgraded Gap from a strong-buy rating to a buy rating and set a $26.42 price objective on the stock. in a research note on Wednesday, January 4th. Royal Bank of Canada restated a hold rating and issued a $27.00 target price on shares of Gap in a report on Thursday, January 5th. FBR & Co set a $28.00 target price on Gap and gave the stock a hold rating in a report on Sunday, January 8th. Zacks Investment Research upgraded Gap from a hold rating to a buy rating and set a $27.00 target price on the stock in a report on Wednesday, January 25th. Finally, Oppenheimer Holdings Inc. set a $24.00 target price on Gap and gave the stock a hold rating in a report on Thursday, February 2nd. Three equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $25.71.

Gap (NYSE:GPS) traded down 3.92% during mid-day trading on Thursday, reaching $22.28. The company’s stock had a trading volume of 19,770,130 shares. The firm has a 50 day moving average price of $24.91 and a 200-day moving average price of $24.70. Gap has a 1-year low of $17.72 and a 1-year high of $30.74. The company has a market capitalization of $8.91 billion, a PE ratio of 13.18 and a beta of 0.99. Gap also saw unusually large options trading on Thursday. Traders bought 31,496 put options on the company. This is an increase of approximately 695% compared to the typical daily volume of 3,964 put options.

Gap (NYSE:GPS) last posted its quarterly earnings data on Thursday, May 18th. The apparel retailer reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.07. Gap had a return on equity of 32.19% and a net margin of 4.33%. The company had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the business earned $0.32 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities analysts predict that Gap will post $1.99 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Wednesday, July 5th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Friday, June 30th. Gap’s payout ratio is 55.09%.

In related news, CEO Jeff Kirwan sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $24.88, for a total value of $124,400.00. Following the completion of the sale, the chief executive officer now directly owns 29,548 shares in the company, valued at approximately $735,154.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert J. Fisher sold 500,000 shares of the firm’s stock in a transaction dated Friday, March 31st. The shares were sold at an average price of $24.58, for a total transaction of $12,290,000.00. Following the completion of the sale, the director now owns 8,867,728 shares of the company’s stock, valued at $217,968,754.24. The disclosure for this sale can be found here. 30.00% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Gap by 4,968.6% in the first quarter. BlackRock Inc. now owns 22,738,113 shares of the apparel retailer’s stock valued at $552,308,000 after buying an additional 22,289,507 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Gap by 16,151.9% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 3,798,070 shares of the apparel retailer’s stock valued at $84,469,000 after buying an additional 3,774,700 shares during the period. Vanguard Group Inc. increased its stake in shares of Gap by 8.8% in the first quarter. Vanguard Group Inc. now owns 23,100,485 shares of the apparel retailer’s stock valued at $561,111,000 after buying an additional 1,876,653 shares during the period. Credit Agricole S A increased its stake in shares of Gap by 314.1% in the fourth quarter. Credit Agricole S A now owns 2,357,418 shares of the apparel retailer’s stock valued at $52,899,000 after buying an additional 1,788,122 shares during the period. Finally, Morgan Stanley increased its stake in shares of Gap by 459.2% in the third quarter. Morgan Stanley now owns 1,898,797 shares of the apparel retailer’s stock valued at $42,229,000 after buying an additional 1,559,268 shares during the period. Hedge funds and other institutional investors own 57.87% of the company’s stock.

About Gap

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.

12 Month Chart for NYSE:GPS

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