Shares of Gap Inc (NYSE:GPS) have earned a consensus rating of “Hold” from the thirty ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eighteen have assigned a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $32.70.
Several research analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price target on GAP from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, August 24th. B. Riley restated a “neutral” rating on shares of GAP in a report on Wednesday. ValuEngine lowered shares of GAP from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Royal Bank of Canada reduced their price objective on shares of GAP to $30.00 and set a “positive” rating on the stock in a report on Thursday, November 1st. Finally, Wedbush initiated coverage on shares of GAP in a report on Friday, August 10th. They issued a “neutral” rating and a $32.00 price objective on the stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GPS. Point72 Asset Management L.P. grew its position in GAP by 626.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,743,079 shares of the apparel retailer’s stock valued at $88,848,000 after acquiring an additional 2,365,680 shares in the last quarter. Miller Howard Investments Inc. NY grew its position in shares of GAP by 8,187.8% during the second quarter. Miller Howard Investments Inc. NY now owns 1,949,786 shares of the apparel retailer’s stock worth $63,154,000 after buying an additional 1,926,260 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of GAP during the second quarter worth about $42,264,000. Wells Fargo & Company MN grew its position in shares of GAP by 41.9% during the second quarter. Wells Fargo & Company MN now owns 4,137,469 shares of the apparel retailer’s stock worth $134,013,000 after buying an additional 1,221,383 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of GAP by 5.9% during the third quarter. Bank of New York Mellon Corp now owns 12,602,613 shares of the apparel retailer’s stock worth $363,586,000 after buying an additional 701,959 shares in the last quarter. 57.95% of the stock is owned by institutional investors.
GAP (NYSE:GPS) last announced its quarterly earnings data on Thursday, August 23rd. The apparel retailer reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. GAP had a return on equity of 29.25% and a net margin of 5.43%. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter last year, the firm posted $0.58 EPS. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities analysts forecast that GAP will post 2.58 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 10th were given a $0.2425 dividend. This represents a $0.97 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend was Tuesday, October 9th. GAP’s dividend payout ratio is currently 45.54%.
GAP Company Profile
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, and Intermix 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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