The Gap, Inc. (NYSE:GPS – Get Rating) shares have received a consensus rating of “Hold” from the 22 analysts covering the company, reports Marketbeat.com. Five analysts have rated the stock with a sell rating and thirteen have issued a hold recommendation on the company. The average 12-month target price among brokers who have covered the stock over the past year is $11.09.
Several research companies have recently published reports on GPS. Jefferies Financial Group raised its price target on GAP to $13.00 from $11.00 in a research note on Friday. JPMorgan Chase & Co. raised its price target on GAP to $9.00 from $8.00 in a research note on Friday, September 16. Citigroup raised its price target on GAP shares to $8.00 from $7.00 and issued a research note on Friday, November 11, rating the stock as a “sell”. Morgan Stanley raised its price target on GAP shares to $8.00 from $7.50 and ranked the stock as “underweight” in a research report on Friday, August 26. Finally, in a research note on Friday, Wells Fargo & Company raised its target price on GAP shares to $12.00 from $10.00 and gave the stock an “equal weight” rating.
GAP price development
GPS opened at $13.67 on Friday. The stock has a market cap of $4.97 billion, a P/E of -13.53 and a beta of 1.80. The company has a gearing ratio of 0.80, a current ratio of 1.37 and a quick ratio of 0.50. GAP has a yearly low of $7.79 and a yearly high of $24.94. The company’s 50-day simple moving average is $10.21 and its 200-day simple moving average is $10.08.
GAP (NYSE:GPS – Get Rating) last issued its earnings results on Thursday, November 17th. The apparel retailer reported earnings per share (EPS) of $0.71 for the quarter, beating analysts’ consensus estimate of $0.01 by $0.70. GAP had a negative return on equity of 1.48% and a negative net margin of 2.40%. The company made $4.04 billion in revenue for the quarter, compared to analysts’ expectations of $3.83 billion. In the same quarter last year, the company earned $0.27 per share. The company’s revenue rose 2.4% year over year. Sell-side analysts expect GAP to report earnings per share of -0.33 for the current fiscal year.
GAP announces dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Wednesday, January 4 will receive a dividend of $0.15. The ex-dividend date is Tuesday 3rd January. That equates to an annualized dividend of $0.60 and a dividend yield of 4.39%. GAP’s Dividend Payout Ratio (DPR) is -59.41%.
Insiders place their bets
In other GAP news, CEO Mary Beth Laughton sold 11,030 shares of the stock in a transaction that took place on Monday, October 31st. The shares sold at an average price of $11.28 for a total transaction of $124,418.40. Upon completion of the sale, the Chief Executive Officer now directly owns 31,561 shares of the Company, valued at approximately $356,008.08. The sale was disclosed in a legal filing with the SEC available at this link. Company insiders own 44.19% of the company’s shares.
Institutional investors evaluate GAP
A number of hedge funds and other institutional investors have recently added to or reduced their holdings in GPS. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in GAP stock valued at approximately $146,000 during the first quarter. Nisa Investment Advisors LLC increased its stake in GAP by 48.6% during the first quarter. Nisa Investment Advisors LLC now owns 60,540 shares of the apparel retailer, valued at $852,000, after purchasing an additional 19,790 shares during the period. The New York State Common Retirement Fund increased its holding in GAP by 18.4% in the first quarter. The New York State Common Retirement Fund now owns 324,280 shares of the apparel retailer, valued at $4,566,000, after buying another 50,463 shares last quarter. Campbell & CO Investment Adviser LLC acquired a new interest in GAP valued at approximately $348,000 during the first quarter. Finally, Bank of New York Mellon Corp increased its stake in GAP by 15.3% during the first quarter. Bank of New York Mellon Corp now owns 3,138,643 shares of the apparel retailer, valued at $44,192,000, after purchasing an additional 415,813 shares during the period. 57.46% of the shares are currently owned by hedge funds and other institutional investors.
The Gap, Inc operates as an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Old Navy, Gap, Banana Republic and Athleta brands. Its products include denim, t-shirts, fleece and khakis; glasses, jewellery, shoes, handbags and fragrances; and fitness and lifestyle products for use in yoga, exercise, sports, travel and everyday activities for women and girls.
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