Gap Inc. (GPS) Short Interest Update
Gap Inc. (NYSE:GPS) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 35,698,314 shares, a decrease of 8.8% from the October 14th total of 39,143,181 shares. Based on an average trading volume of 3,800,621 shares, the days-to-cover ratio is currently 9.4 days. Currently, 16.3% of the company’s shares are short sold.
GPS has been the subject of a number of research reports. Vetr upgraded Gap from a “hold” rating to a “buy” rating in a report on Sunday, November 6th. Jefferies Group reiterated a “buy” rating on shares of Gap in a report on Monday, August 29th. Wells Fargo & Co. reiterated a “market perform” rating and issued a $26.00 price objective (up previously from $21.00) on shares of Gap in a report on Tuesday, July 26th. Credit Suisse Group AG reiterated an “underperform” rating and issued a $22.00 price objective (up previously from $21.00) on shares of Gap in a report on Friday, August 19th. Finally, Wolfe Research upgraded Gap from a “peer perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a report on Monday, July 25th. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $24.93.
Gap (NYSE:GPS) opened at 25.61 on Friday. The stock has a market cap of $10.20 billion, a PE ratio of 14.43 and a beta of 1.06. The company’s 50-day moving average price is $26.51 and its 200-day moving average price is $23.32. Gap has a 12-month low of $17.00 and a 12-month high of $30.74.
Gap (NYSE:GPS) last announced its earnings results on Thursday, November 17th. The apparel retailer reported $0.60 EPS for the quarter, meeting analysts’ consensus estimates of $0.60. Gap had a return on equity of 32.77% and a net margin of 4.33%. The business earned $3.80 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year. On average, equities analysts expect that Gap will post $2.02 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Wednesday, January 4th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, December 30th. This represents a $0.92 annualized dividend and a dividend yield of 3.59%. Gap’s dividend payout ratio is presently 55.09%.
Several large investors have recently bought and sold shares of the stock. Cornerstone Capital Management Holdings LLC. boosted its stake in Gap by 520.6% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 942,678 shares of the apparel retailer’s stock valued at $20,964,000 after buying an additional 790,790 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Gap during the third quarter valued at approximately $1,557,000. Xact Kapitalforvaltning AB bought a new stake in Gap during the third quarter valued at approximately $551,000. 1832 Asset Management L.P. bought a new stake in Gap during the third quarter valued at approximately $1,238,000. Finally, Highbridge Capital Management LLC bought a new stake in Gap during the third quarter valued at approximately $409,000. 57.23% of the stock is owned by hedge funds and other institutional investors.
Gap Company Profile
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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