A number of other research firms have also weighed in on GPS. TheStreet raised shares of GAP from a d+ rating to a c- rating in a research note on Thursday, July 27th. Citigroup boosted 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. Barclays raised shares of GAP from an equal weight rating to an overweight rating and increased their price target for the stock from $9.00 to $13.00 in a report on Tuesday, August 1st. Guggenheim reissued a buy rating and set a $18.00 price objective on shares of GAP in a research note on Wednesday, September 13th. Finally, Morgan Stanley raised their target price on shares of GAP from $13.00 to $14.00 and gave the company an equal weight rating in a research note on Friday. Three equities 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. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $13.13.
GAP Stock Performance
GAP (NYSE:GPS – Get Free Report) last issued its earnings results on Thursday, November 16th. The apparel retailer reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.39. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.61 billion. GAP had a return on equity of 5.06% and a net margin of 0.71%. GAP’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.71 EPS. Equities research analysts anticipate that GAP will post 0.72 earnings per share for the current year.
GAP Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 3rd will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.26%. GAP’s payout ratio is currently 206.90%.
Insider Transactions at GAP
In related news, CFO Katrina O’connell sold 24,509 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $10.36, for a total transaction of $253,913.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Sarah Gilligan sold 8,712 shares of GAP stock in a transaction that occurred on Friday, November 3rd. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Katrina O’connell sold 24,509 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $10.36, for a total transaction of $253,913.24. The disclosure for this sale can be found here. Insiders have sold a total of 33,768 shares of company stock worth $382,237 in the last ninety days. Insiders own 30.81% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of GPS. Ameriprise Financial Inc. increased its stake in shares of GAP by 73.4% in the third quarter. Ameriprise Financial Inc. now owns 3,572,524 shares of the apparel retailer’s stock valued at $37,976,000 after buying an additional 1,512,067 shares during the period. Lazard Asset Management LLC grew its holdings in GAP by 117.8% during the 3rd quarter. Lazard Asset Management LLC now owns 4,613 shares of the apparel retailer’s stock valued at $49,000 after buying an additional 2,495 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of GAP by 6.5% during the 3rd quarter. California Public Employees Retirement System now owns 368,274 shares of the apparel retailer’s stock valued at $3,915,000 after acquiring an additional 22,316 shares during the last quarter. New York State Teachers Retirement System lifted its position in GAP by 8.3% in the third quarter. New York State Teachers Retirement System now owns 260,566 shares of the apparel retailer’s stock valued at $2,770,000 after purchasing an additional 19,923 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in GAP by 2.9% in the third quarter. Bank of New York Mellon Corp now owns 2,906,701 shares of the apparel retailer’s stock worth $30,898,000 after purchasing an additional 80,792 shares during the period. Institutional investors own 61.71% of the company’s stock.
GAP Company Profile
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.
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