GAP (GPS) Given a $35.00 Price Target at SunTrust Banks
Several other analysts also recently weighed in on the company. Royal Bank of Canada boosted their target price on GAP from $26.00 to $28.00 and gave the company a sector perform rating in a report on Friday, November 17th. KeyCorp reissued a buy rating and issued a $33.00 target price on shares of GAP in a report on Friday, November 3rd. Zacks Investment Research downgraded GAP from a hold rating to a sell rating in a report on Tuesday, November 14th. TheStreet downgraded GAP from a b rating to a c+ rating in a report on Monday, November 13th. Finally, Robert W. Baird set a $35.00 target price on GAP and gave the company a hold rating in a report on Friday, December 22nd. Three equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $31.57.
Shares of GAP (NYSE GPS) opened at $34.18 on Thursday. The stock has a market capitalization of $13,290.00, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.86 and a beta of 0.88. The company has a current ratio of 1.73, a quick ratio of 0.77 and a debt-to-equity ratio of 0.41. GAP has a fifty-two week low of $21.02 and a fifty-two week high of $35.68.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 2nd. Shareholders of record on Wednesday, April 11th will be given a dividend of $0.2425 per share. This is a boost from GAP’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Tuesday, April 10th. This represents a $0.97 annualized dividend and a yield of 2.84%. GAP’s payout ratio is presently 42.79%.
In other GAP news, EVP Brent Hyder sold 5,839 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $33.04, for a total transaction of $192,920.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Julie Gruber sold 5,462 shares of the business’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $35.00, for a total value of $191,170.00. Following the transaction, the executive vice president now owns 11,988 shares in the company, valued at approximately $419,580. The disclosure for this sale can be found here. Insiders have sold a total of 18,434 shares of company stock worth $626,613 in the last quarter. 27.30% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GPS. Raymond James Financial Services Advisors Inc. increased its position in GAP by 19.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 60,077 shares of the apparel retailer’s stock worth $1,774,000 after purchasing an additional 9,732 shares during the period. Victory Capital Management Inc. grew its holdings in shares of GAP by 23.9% in the 3rd quarter. Victory Capital Management Inc. now owns 188,940 shares of the apparel retailer’s stock worth $5,579,000 after acquiring an additional 36,448 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of GAP by 56.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 583,110 shares of the apparel retailer’s stock worth $17,219,000 after acquiring an additional 209,210 shares during the period. Andra AP fonden grew its holdings in shares of GAP by 2.6% in the 3rd quarter. Andra AP fonden now owns 89,800 shares of the apparel retailer’s stock worth $2,652,000 after acquiring an additional 2,300 shares during the period. Finally, Empirical Finance LLC grew its holdings in shares of GAP by 16.3% in the 3rd quarter. Empirical Finance LLC now owns 82,712 shares of the apparel retailer’s stock worth $2,443,000 after acquiring an additional 11,563 shares during the period. Institutional investors own 56.64% of the company’s stock.
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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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