Gap Inc (NYSE:GPS) – Equities research analysts at Jefferies Group increased their FY2019 earnings per share estimates for shares of GAP in a research note issued on Friday, according to Zacks Investment Research. Jefferies Group analyst R. Konik now anticipates that the apparel retailer will post earnings of $2.30 per share for the year, up from their prior forecast of $2.25. Jefferies Group has a “Buy” rating and a $41.00 price target on the stock.
A number of other research firms have also weighed in on GPS. Barclays started coverage on shares of GAP in a research report on Tuesday, September 19th. They set an “overweight” rating and a $32.00 price target on the stock. Robert W. Baird set a $28.00 price target on shares of GAP and gave the stock a “hold” rating in a research report on Friday, November 17th. Zacks Investment Research upgraded shares of GAP from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Thursday, September 21st. Oppenheimer set a $28.00 target price on shares of GAP and gave the company a “buy” rating in a report on Thursday, August 17th. Finally, B. Riley set a $25.00 target price on shares of GAP and gave the company a “hold” rating in a report on Friday, November 17th. Four equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. GAP currently has a consensus rating of “Hold” and an average target price of $27.94.
GAP (GPS) traded up $0.08 on Monday, reaching $33.40. 3,980,600 shares of the company were exchanged, compared to its average volume of 5,999,040. The firm has a market capitalization of $12,956.72, a price-to-earnings ratio of 16.41, a PEG ratio of 1.98 and a beta of 0.95. GAP has a 52-week low of $21.02 and a 52-week high of $34.30. The company has a quick ratio of 0.77, a current ratio of 1.73 and a debt-to-equity ratio of 0.41.
GAP (NYSE:GPS) last released its quarterly earnings data on Thursday, November 16th. The apparel retailer reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.76 billion. GAP had a net margin of 5.57% and a return on equity of 27.47%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.60 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 3rd will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.75%. The ex-dividend date is Tuesday, January 2nd. GAP’s payout ratio is currently 42.40%.
In related news, Director William Sydney Fisher sold 666,849 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $27.99, for a total transaction of $18,665,103.51. Following the sale, the director now directly owns 12,237,873 shares of the company’s stock, valued at approximately $342,538,065.27. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeff Kirwan sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $26.11, for a total transaction of $26,110.00. Following the transaction, the chief executive officer now owns 24,268 shares of the company’s stock, valued at approximately $633,637.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,212,077 shares of company stock worth $67,302,126. 27.30% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC boosted its holdings in shares of GAP by 91.3% in the 1st quarter. FMR LLC now owns 161,761 shares of the apparel retailer’s stock valued at $3,929,000 after buying an additional 77,185 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in GAP by 2.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 18,320 shares of the apparel retailer’s stock worth $402,000 after purchasing an additional 380 shares during the period. Chevy Chase Trust Holdings Inc. boosted its stake in GAP by 0.3% during the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 190,910 shares of the apparel retailer’s stock worth $4,198,000 after purchasing an additional 509 shares during the period. Mn Services Vermogensbeheer B.V. boosted its stake in GAP by 523.3% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 38,677 shares of the apparel retailer’s stock worth $851,000 after purchasing an additional 32,472 shares during the period. Finally, James Investment Research Inc. acquired a new stake in GAP during the 2nd quarter worth $144,000. Institutional investors own 54.78% of the company’s stock.
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GAP 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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