Gap Inc. (GPS) Given New $28.00 Price Target at Mizuho
Other research analysts have also recently issued reports about the stock. Oppenheimer Holdings Inc. reaffirmed a rating and issued a $20.00 target price on shares of Gap in a report on Monday, August 22nd. Vetr cut shares of Gap from a strong-buy rating to a buy rating and set a $27.03 target price for the company. in a report on Friday, August 12th. Canaccord Genuity reaffirmed a buy rating on shares of Gap in a report on Wednesday, August 17th. Jefferies Group increased their target price on shares of Gap from $26.00 to $30.00 and gave the company a buy rating in a report on Friday, August 19th. Finally, KeyCorp reaffirmed a buy rating and issued a $33.00 target price on shares of Gap in a report on Tuesday, November 8th. Five research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $24.90.
Gap (NYSE:GPS) traded up 0.94% during mid-day trading on Friday, hitting $25.85. 2,151,786 shares of the stock traded hands. The stock’s 50 day moving average is $26.49 and its 200-day moving average is $23.34. The company has a market cap of $10.31 billion, a price-to-earnings ratio of 15.39 and a beta of 1.06. Gap has a 12 month low of $17.00 and a 12 month high of $30.74.
Gap (NYSE:GPS) last posted its quarterly earnings results on Thursday, November 17th. The apparel retailer reported $0.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.60. Gap had a net margin of 4.33% and a return on equity of 32.19%. The firm earned $3.80 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same period in the prior year, the company posted $0.63 earnings per share. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities research analysts anticipate that Gap will post $2.02 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Wednesday, January 4th will be paid a $0.23 dividend. The ex-dividend date 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 institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Gap by 2.3% in the second quarter. Vanguard Group Inc. now owns 20,061,541 shares of the apparel retailer’s stock valued at $425,706,000 after buying an additional 444,555 shares in the last quarter. American International Group Inc. boosted its position in Gap by 6.0% in the third quarter. American International Group Inc. now owns 15,249,281 shares of the apparel retailer’s stock valued at $339,144,000 after buying an additional 868,093 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Gap by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 14,135,669 shares of the apparel retailer’s stock valued at $299,958,000 after buying an additional 251,964 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Gap by 7.4% in the second quarter. JPMorgan Chase & Co. now owns 13,531,075 shares of the apparel retailer’s stock valued at $287,129,000 after buying an additional 936,648 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Gap by 1.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 6,451,773 shares of the apparel retailer’s stock valued at $136,907,000 after buying an additional 73,041 shares in the last quarter. 58.77% of the stock is owned by institutional investors and hedge funds.
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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