Several other brokerages have also issued reports on GPS. Oppenheimer Holdings Inc. reaffirmed a rating and issued a $20.00 target price on shares of Gap in a research note on Monday, August 22nd. Vetr downgraded Gap from a buy rating to a hold rating and set a $27.90 price objective for the company. in a research report on Monday, August 22nd. Jefferies Group reiterated a buy rating on shares of Gap in a research report on Monday, August 29th. Citigroup Inc. boosted their price objective on Gap from $24.00 to $27.00 and gave the company a neutral rating in a research report on Friday, August 19th. Finally, JPMorgan Chase & Co. reiterated a sell rating and issued a $22.00 price objective on shares of Gap in a research report on Friday, August 19th. Six research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $25.17.
Shares of Gap (NYSE:GPS) opened at 26.56 on Friday. The firm has a market cap of $10.58 billion, a P/E ratio of 14.96 and a beta of 1.28. The company has a 50-day moving average of $23.86 and a 200 day moving average of $22.97. Gap has a 52-week low of $17.00 and a 52-week high of $30.49.
Gap (NYSE:GPS) last issued its earnings results on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The business earned $3.85 billion during the quarter, compared to analyst estimates of $3.79 billion. Gap had a return on equity of 33.26% and a net margin of 4.60%. Gap’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share. On average, equities analysts expect that Gap will post ($0.01) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.46%. The ex-dividend date is Monday, October 3rd. Gap’s dividend payout ratio (DPR) is presently 51.98%.
A number of hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. increased its stake in shares of Gap by 11.7% in the second quarter. Pacer Advisors Inc. now owns 5,777 shares of the apparel retailer’s stock valued at $123,000 after buying an additional 606 shares during the period. Advisory Services Network LLC increased its stake in shares of Gap by 22.1% in the second quarter. Advisory Services Network LLC now owns 5,869 shares of the apparel retailer’s stock valued at $125,000 after buying an additional 1,062 shares during the period. Americafirst Capital Management LLC acquired a new stake in shares of Gap during the second quarter valued at about $139,000. Sigma Planning Corp acquired a new stake in shares of Gap during the second quarter valued at about $216,000. Finally, Beddow Capital Management Inc. acquired a new stake in shares of Gap during the first quarter valued at about $226,000. 57.42% of the stock is currently owned by institutional investors.
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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