Gap, Inc. (The) (GPS) Upgraded to “Neutral” at Citigroup Inc.
Citigroup Inc. upgraded shares of Gap, Inc. (The) (NYSE:GPS) from a sell rating to a neutral rating in a research report report published on Friday morning. The brokerage currently has $24.00 price objective on the apparel retailer’s stock, up from their previous price objective of $22.00.
Several other research firms have also recently weighed in on GPS. CIBC raised Gap, Inc. (The) from a market perform rating to an outperform rating in a report on Monday, June 5th. Oppenheimer Holdings, Inc. set a $28.00 price target on Gap, Inc. (The) and gave the company a buy rating in a report on Thursday, August 17th. Zacks Investment Research cut Gap, Inc. (The) from a buy rating to a hold rating in a report on Wednesday. Vetr raised 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. Finally, ValuEngine cut Gap, Inc. (The) from a strong-buy rating to a buy rating in a report on Friday, June 2nd. Three research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $25.74.
Shares of Gap, Inc. (NYSE:GPS) traded up 2.67% during trading on Friday, reaching $24.25. The company’s stock had a trading volume of 3,852,853 shares. The stock has a market cap of $9.51 billion, a P/E ratio of 11.55 and a beta of 0.82. The stock’s 50-day moving average is $23.44 and its 200-day moving average is $23.70. Gap, Inc. has a 12-month low of $21.02 and a 12-month high of $30.74.
Gap, Inc. (The) (NYSE:GPS) last released its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.06. The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Gap, Inc. (The) had a return on equity of 28.50% and a net margin of 5.42%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. Equities research analysts anticipate that Gap, Inc. will post $2.06 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend is Tuesday, October 3rd. Gap, Inc. (The)’s payout ratio is 43.81%.
In related news, EVP Paul Joseph Chapman sold 4,898 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $22.82, for a total value of $111,772.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 6,898 shares of company stock valued at $157,792. 27.30% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. acquired a new position in shares of Gap, Inc. (The) during the first quarter worth approximately $127,000. Ffcm LLC increased its position in shares of Gap, Inc. (The) by 198.0% in the second quarter. Ffcm LLC now owns 5,296 shares of the apparel retailer’s stock worth $121,000 after buying an additional 3,519 shares during the last quarter. Penserra Capital Management LLC increased its position in shares of Gap, Inc. (The) by 9.5% in the first quarter. Penserra Capital Management LLC now owns 5,980 shares of the apparel retailer’s stock worth $145,000 after buying an additional 520 shares during the last quarter. James Investment Research Inc. acquired a new position in shares of Gap, Inc. (The) during the second quarter worth approximately $144,000. Finally, Yorktown Management & Research Co Inc acquired a new position in shares of Gap, Inc. (The) during the first quarter worth approximately $211,000. 55.68% of the stock is owned by hedge funds and other institutional investors.
Gap, Inc. (The) 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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