Royal Bank Of Canada reiterated their hold rating on shares of Gap, Inc. (The) (NYSE:GPS) in a report released on Monday morning. The brokerage currently has a $26.00 target price on the apparel retailer’s stock.
GPS has been the topic of several other research reports. Zacks Investment Research raised Gap, Inc. (The) from a hold rating to a buy rating and set a $26.00 price objective on the stock in a research report on Friday, August 25th. BMO Capital Markets set a $23.00 price objective on Gap, Inc. (The) and gave the company a hold rating in a research report on Tuesday, August 8th. Robert W. Baird reaffirmed a neutral rating and issued a $26.00 price objective on shares of Gap, Inc. (The) in a research report on Sunday, August 20th. ValuEngine raised Gap, Inc. (The) from a hold rating to a buy rating in a research report on Thursday, September 7th. Finally, Oppenheimer Holdings, Inc. upgraded Gap, Inc. (The) from a market perform rating to an outperform rating and upped their target price for the stock from $24.00 to $28.00 in a report on Sunday, June 4th. Three research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $26.48.
Shares of Gap, Inc. (GPS) opened at 28.00 on Monday. The stock has a market cap of $10.98 billion, a price-to-earnings ratio of 13.34 and a beta of 0.82. The stock’s 50 day moving average price is $24.44 and its 200-day moving average price is $23.86. Gap, Inc. has a 1-year low of $21.02 and a 1-year high of $30.74. Gap, Inc. (The) also saw some unusual options trading on Monday. Investors bought 619 put options on the stock. This is an increase of approximately 443% compared to the typical daily volume of 114 put options.
Gap, Inc. (The) (NYSE:GPS) last announced its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.06. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.77 billion. Gap, Inc. (The) had a return on equity of 28.50% and a net margin of 5.42%. Gap, Inc. (The)’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. On average, equities research analysts forecast that Gap, Inc. will post $2.07 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Tuesday, October 3rd. Gap, Inc. (The)’s dividend payout ratio (DPR) is 43.81%.
In related news, EVP Paul Joseph Chapman sold 4,898 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $22.82, for a total transaction of $111,772.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sonia Syngal sold 1,935 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $25.79, for a total value of $49,903.65. Following the sale, the chief executive officer now directly owns 39,656 shares in the company, valued at $1,022,728.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,833 shares of company stock worth $231,606. 27.30% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of GPS. BlackRock Inc. grew its holdings in Gap, Inc. (The) by 4,968.6% during the first quarter. BlackRock Inc. now owns 22,738,113 shares of the apparel retailer’s stock worth $552,308,000 after acquiring an additional 22,289,507 shares during the period. Prudential Financial Inc. grew its holdings in Gap, Inc. (The) by 202.2% during the second quarter. Prudential Financial Inc. now owns 3,801,842 shares of the apparel retailer’s stock worth $83,603,000 after acquiring an additional 2,543,850 shares during the period. Vanguard Group Inc. grew its holdings in Gap, Inc. (The) by 8.8% during the first quarter. Vanguard Group Inc. now owns 23,100,485 shares of the apparel retailer’s stock worth $561,111,000 after acquiring an additional 1,876,653 shares during the period. NN Investment Partners Holdings N.V. grew its holdings in Gap, Inc. (The) by 36.6% during the second quarter. NN Investment Partners Holdings N.V. now owns 2,605,366 shares of the apparel retailer’s stock worth $57,291,000 after acquiring an additional 697,881 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Gap, Inc. (The) by 22.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,004,102 shares of the apparel retailer’s stock worth $66,067,000 after acquiring an additional 545,463 shares during the period. 56.22% of the stock is currently owned by hedge funds and other institutional investors.
Gap, Inc. (The) 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.
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