Gap Inc (NYSE:GPS) gapped up before the market opened on Wednesday . The stock had previously closed at $18.01, but opened at $18.38. GAP shares last traded at $19.25, with a volume of 13,256,285 shares.
Several analysts have issued reports on the stock. Nomura cut their target price on shares of GAP from $22.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. B. Riley set a $21.00 target price on GAP and gave the stock a “hold” rating in a research report on Friday, August 23rd. Wedbush reaffirmed a “neutral” rating on shares of GAP in a research report on Monday, August 19th. Argus reiterated a “hold” rating on shares of GAP in a report on Tuesday, June 4th. Finally, Royal Bank of Canada set a $22.00 price target on GAP and gave the company a “hold” rating in a research report on Friday, May 31st. Six analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $23.83.
The company has a quick ratio of 0.72, a current ratio of 1.46 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 7.43, a P/E/G ratio of 0.97 and a beta of 0.71. The stock’s 50 day moving average price is $17.33 and its two-hundred day moving average price is $21.32.
GAP (NYSE:GPS) last announced its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.11. The business had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.02 billion. GAP had a return on equity of 24.53% and a net margin of 5.71%. GAP’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.76 earnings per share. On average, equities analysts expect that Gap Inc will post 2.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Wednesday, October 9th will be paid a dividend of $0.243 per share. The ex-dividend date of this dividend is Tuesday, October 8th. This is an increase from GAP’s previous quarterly dividend of $0.24. This represents a $0.97 dividend on an annualized basis and a dividend yield of 5.05%. GAP’s dividend payout ratio (DPR) is 37.45%.
In other news, CEO Mcneil S. Fiske, Jr. sold 16,183 shares of GAP stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $18.00, for a total transaction of $291,294.00. Following the completion of the sale, the chief executive officer now directly owns 32,500 shares in the company, valued at approximately $585,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 37.60% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Bremer Bank National Association acquired a new stake in GAP in the first quarter valued at approximately $29,000. Atlas Capital Advisors LLC bought a new stake in GAP in the second quarter worth $52,000. ETF Managers Group LLC bought a new stake in GAP in the second quarter worth $128,000. FNY Investment Advisers LLC acquired a new position in GAP during the second quarter worth $158,000. Finally, Dynamic Capital Management Ltd acquired a new position in GAP during the second quarter worth $189,000. Hedge funds and other institutional investors own 59.93% of the company’s stock.
GAP Company Profile (NYSE:GPS)
The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, and Hill City brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.
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