GAP (NYSE:GPS) Shares Gap Down to $17.57

Gap Inc (NYSE:GPS) gapped down before the market opened on Friday . The stock had previously closed at $18.37, but opened at $17.57. GAP shares last traded at $16.88, with a volume of 13,074,996 shares trading hands.

Several analysts recently issued reports on GPS shares. Wells Fargo & Co dropped their price objective on shares of GAP from $24.00 to $20.00 and set a “market perform” rating for the company in a research note on Monday, September 30th. Guggenheim reiterated a “hold” rating on shares of GAP in a report on Thursday, September 12th. MKM Partners set a $18.00 target price on shares of GAP and gave the company a “hold” rating in a report on Friday, September 13th. Royal Bank of Canada decreased their target price on shares of GAP from $20.00 to $19.00 and set a “sector perform” rating on the stock in a report on Wednesday, September 25th. Finally, Bank of America set a $14.00 target price on shares of GAP and gave the company a “sell” rating in a report on Friday, August 23rd. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $22.15.

The firm’s fifty day moving average price is $17.11 and its 200 day moving average price is $19.76. The company has a current ratio of 1.46, a quick ratio of 0.72 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $6.60 billion, a price-to-earnings ratio of 6.52, a price-to-earnings-growth ratio of 0.95 and a beta of 0.70.

GAP (NYSE:GPS) last issued its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $0.63 EPS for the quarter, topping the consensus estimate of $0.52 by $0.11. GAP had a net margin of 5.71% and a return on equity of 24.53%. The firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the business posted $0.76 EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, analysts forecast that Gap Inc will post 2.06 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Wednesday, October 9th will be issued a $0.243 dividend. This is a positive change from GAP’s previous quarterly dividend of $0.24. This represents a $0.97 annualized dividend and a dividend yield of 5.76%. The ex-dividend date of this dividend is Tuesday, October 8th. GAP’s dividend payout ratio is currently 37.45%.

Several hedge funds have recently modified their holdings of GPS. BlackRock Inc. lifted its holdings in shares of GAP by 6.9% in the 2nd quarter. BlackRock Inc. now owns 21,828,899 shares of the apparel retailer’s stock worth $392,265,000 after acquiring an additional 1,415,944 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of GAP by 691.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,061,116 shares of the apparel retailer’s stock worth $19,068,000 after acquiring an additional 927,119 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of GAP by 43.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,053,569 shares of the apparel retailer’s stock worth $54,873,000 after acquiring an additional 923,316 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of GAP by 14.0% in the 2nd quarter. Invesco Ltd. now owns 7,517,993 shares of the apparel retailer’s stock worth $135,098,000 after acquiring an additional 922,167 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in GAP by 178.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 654,188 shares of the apparel retailer’s stock worth $11,756,000 after buying an additional 418,832 shares in the last quarter. Hedge funds and other institutional investors own 60.02% of the company’s stock.

About GAP (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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