Gap, Inc. (The) (GPS) Given a $35.00 Price Target at Jefferies Group LLC
Gap, Inc. (The) (NYSE:GPS) has been assigned a $35.00 price objective by equities research analysts at Jefferies Group LLC in a research report issued on Friday, May 19th. The brokerage currently has a “buy” rating on the apparel retailer’s stock. Jefferies Group LLC’s target price would indicate a potential upside of 52.91% from the company’s previous close.
Several other equities analysts have also commented on GPS. Wedbush increased their target price on shares of Gap, Inc. (The) from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, February 7th. Zacks Investment Research raised shares of Gap, Inc. (The) from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Wednesday, January 25th. Vetr raised shares of Gap, Inc. (The) from a “sell” rating to a “hold” rating and set a $24.84 price target on the stock in a report on Monday, May 15th. FBR & Co set a $28.00 price target on shares of Gap, Inc. (The) and gave the stock a “hold” rating in a report on Friday, May 19th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $26.00 price target on shares of Gap, Inc. (The) in a report on Tuesday, April 18th. Three investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $25.97.
Gap, Inc. (NYSE GPS) traded down 0.87% on Friday, hitting $22.89. The stock had a trading volume of 6,454,778 shares. Gap, Inc. has a 1-year low of $19.33 and a 1-year high of $30.74. The company’s 50 day moving average is $23.85 and its 200-day moving average is $24.05. The firm has a market capitalization of $9.06 billion, a price-to-earnings ratio of 13.23 and a beta of 0.86.
Gap, Inc. (The) (NYSE:GPS) last released its earnings results on Thursday, May 18th. The apparel retailer reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.07. Gap, Inc. (The) had a net margin of 4.46% and a return on equity of 29.75%. The company had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the firm earned $0.32 EPS. The firm’s quarterly revenue was up .1% compared to the same quarter last year. On average, analysts forecast that Gap, Inc. will post $2.00 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Wednesday, July 5th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, June 30th. This represents a $0.92 annualized dividend and a yield of 4.02%. Gap, Inc. (The)’s dividend payout ratio (DPR) is 53.18%.
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In other Gap, Inc. (The) news, Director Robert J. Fisher sold 500,000 shares of the company’s 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 completion of the transaction, the director now directly owns 8,867,728 shares in the company, valued at $217,968,754.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeff Kirwan sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $24.88, for a total transaction of $124,400.00. Following the completion of the transaction, the chief executive officer now owns 29,548 shares of the company’s stock, valued at $735,154.24. The disclosure for this sale can be found here. Insiders have sold 506,000 shares of company stock valued at $12,436,940 over the last 90 days. 27.30% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Gap, Inc. (The) by 4,968.6% in the first quarter. BlackRock Inc. now owns 22,738,113 shares of the apparel retailer’s stock valued at $552,308,000 after buying an additional 22,289,507 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position in Gap, Inc. (The) by 16,151.9% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 3,798,070 shares of the apparel retailer’s stock valued at $84,469,000 after buying an additional 3,774,700 shares during the period. Vanguard Group Inc. increased its position in Gap, Inc. (The) by 8.8% in the first quarter. Vanguard Group Inc. now owns 23,100,485 shares of the apparel retailer’s stock valued at $561,111,000 after buying an additional 1,876,653 shares during the period. Credit Agricole S A increased its position in Gap, Inc. (The) by 314.1% in the fourth quarter. Credit Agricole S A now owns 2,357,418 shares of the apparel retailer’s stock valued at $52,899,000 after buying an additional 1,788,122 shares during the period. Finally, Morgan Stanley increased its position in Gap, Inc. (The) by 459.2% in the third quarter. Morgan Stanley now owns 1,898,797 shares of the apparel retailer’s stock valued at $42,229,000 after buying an additional 1,559,268 shares during the period. 57.40% of the stock is currently owned by hedge funds and other institutional investors.
About Gap, Inc. (The)
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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