GAP (NYSE:GPS) Price Target Raised to $20.00

GAP (NYSE:GPS) had its target price raised by Wells Fargo & Company from $16.00 to $20.00 in a research report report published on Friday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the apparel retailer’s stock.

A number of other equities research analysts have also recently issued reports on GPS. StockNews.com initiated coverage on shares of GAP in a report on Thursday, October 5th. They set a hold rating on the stock. Telsey Advisory Group restated a market perform rating and set a $17.00 price target (up from $11.00) on shares of GAP in a research report on Monday, November 13th. Citigroup upped their price target on shares of GAP from $9.00 to $11.00 and gave the company a neutral rating in a research report on Friday, August 18th. TheStreet upgraded shares of GAP from a d+ rating to a c- rating in a research report on Thursday, July 27th. Finally, Guggenheim restated a buy rating and set a $18.00 price target on shares of GAP in a research report on Wednesday, September 13th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $13.13.

GAP Trading Up 3.2 %

NYSE GPS opened at $18.43 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.41 and a debt-to-equity ratio of 0.72. GAP has a twelve month low of $7.22 and a twelve month high of $18.68. The company has a market cap of $6.78 billion, a price-to-earnings ratio of 63.55, a price-to-earnings-growth ratio of 1.62 and a beta of 1.92. The business’s fifty day moving average is $12.04 and its 200 day moving average is $10.37.

GAP (NYSE:GPS) last announced its earnings results on Thursday, November 16th. The apparel retailer reported $0.59 EPS for the quarter, topping the consensus estimate of $0.20 by $0.39. GAP had a return on equity of 5.06% and a net margin of 0.71%. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the previous year, the business earned $0.71 EPS. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. As a group, sell-side analysts expect that GAP will post 0.72 EPS for the current fiscal year.

GAP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 3rd will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Tuesday, January 2nd. GAP’s dividend payout ratio is presently 206.90%.

Insider Activity at GAP

In other GAP news, CFO Katrina O’connell sold 24,509 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $10.36, for a total value of $253,913.24. The sale was disclosed in a filing with the SEC, which is available through this link. In other GAP news, CFO Katrina O’connell sold 24,509 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $10.36, for a total value of $253,913.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Sarah Gilligan sold 8,712 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $14.00, for a total value of $121,968.00. Following the transaction, the executive vice president now directly owns 11,741 shares of the company’s stock, valued at $164,374. The disclosure for this sale can be found here. Insiders have sold a total of 33,768 shares of company stock valued at $382,237 over the last 90 days. 30.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GAP

Several hedge funds have recently made changes to their positions in the company. Hexagon Capital Partners LLC grew its stake in GAP by 317.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 2,793 shares of the apparel retailer’s stock worth $30,000 after buying an additional 2,124 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of GAP by 117.8% in the 3rd quarter. Lazard Asset Management LLC now owns 4,613 shares of the apparel retailer’s stock valued at $49,000 after acquiring an additional 2,495 shares during the period. Captrust Financial Advisors raised its position in GAP by 12.2% in the 2nd quarter. Captrust Financial Advisors now owns 8,561 shares of the apparel retailer’s stock valued at $71,000 after purchasing an additional 930 shares during the last quarter. Covestor Ltd boosted its stake in GAP by 208.4% during the 1st quarter. Covestor Ltd now owns 6,923 shares of the apparel retailer’s stock worth $97,000 after purchasing an additional 4,678 shares during the period. Finally, Sciencast Management LP purchased a new position in GAP during the 2nd quarter worth $122,000. Hedge funds and other institutional investors own 61.71% of the company’s stock.

About GAP

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 and khakis; eyewear, jewelry, shoes, handbags, and fragrances; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.