Gap Inc (GPS) Downgraded to “Hold” at Vetr Inc.
Vetr downgraded shares of Gap Inc (NYSE:GPS) from a buy rating to a hold rating in a report released on Thursday. They currently have $24.84 target price on the apparel retailer’s stock.
GPS has been the subject of a number of other research reports. Jefferies Group LLC restated a buy rating and issued a $36.00 target price on shares of Gap in a report on Friday, January 6th. Guggenheim started coverage on Gap in a report on Thursday, March 9th. They set a neutral rating for the company. Wedbush cut their price objective on Gap from $27.00 to $23.00 and set a neutral rating for the company in a report on Friday, February 24th. Wells Fargo & Co reiterated a market perform rating and set a $25.50 price objective (up from $24.50) on shares of Gap in a report on Friday, March 17th. Finally, Citigroup Inc cut their price objective on Gap from $24.00 to $22.00 and set a sell rating for the company in a report on Tuesday, February 7th. Three analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $25.15.
Shares of Gap (NYSE:GPS) traded up 0.55% during trading on Thursday, reaching $25.56. The company had a trading volume of 3,542,359 shares. Gap has a 12 month low of $17.00 and a 12 month high of $30.74. The stock’s 50-day moving average price is $23.96 and its 200-day moving average price is $24.74. The stock has a market capitalization of $10.22 billion, a PE ratio of 15.12 and a beta of 0.99.
Gap (NYSE:GPS) last released its earnings results on Thursday, February 23rd. The apparel retailer reported $0.51 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.51. The company earned $4.43 billion during the quarter, compared to analyst estimates of $4.39 billion. Gap had a return on equity of 32.19% and a net margin of 4.33%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 earnings per share. Equities analysts forecast that Gap will post $1.99 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 26th. Investors of record on Wednesday, April 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Monday, April 3rd. Gap’s dividend payout ratio (DPR) is presently 55.09%.
In other Gap news, insider Andi Owen sold 38,278 shares of Gap stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $23.97, for a total transaction of $917,523.66. Following the sale, the insider now directly owns 30,778 shares of the company’s stock, valued at $737,748.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert J. Fisher sold 500,000 shares of Gap stock in a transaction that occurred on Friday, March 31st. The shares were sold at an average price of $24.58, for a total value of $12,290,000.00. Following the sale, the director now directly owns 8,867,728 shares in the company, valued at $217,968,754.24. The disclosure for this sale can be found here. 30.00% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in GPS. Meeder Asset Management Inc. bought a new stake in Gap during the third quarter worth $161,000. Regentatlantic Capital LLC bought a new stake in Gap during the third quarter worth $211,000. Folger Hill Asset Management LP bought a new stake in Gap during the fourth quarter worth $225,000. ARP Americas LLC bought a new stake in Gap during the fourth quarter worth $227,000. Finally, Private Advisor Group LLC increased its stake in Gap by 15.0% in the fourth quarter. Private Advisor Group LLC now owns 10,547 shares of the apparel retailer’s stock worth $250,000 after buying an additional 1,378 shares during the last quarter. 57.87% of the stock is currently owned by 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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