Gap, Inc. (The) (GPS) Given a $26.00 Price Target at Royal Bank Of Canada
Royal Bank Of Canada set a $26.00 target price on Gap, Inc. (The) (NYSE:GPS) in a research report released on Monday morning. The brokerage currently has a hold rating on the apparel retailer’s stock.
A number of other brokerages have also issued reports on GPS. Jefferies Group LLC set a $35.00 target price on shares of Gap, Inc. (The) and gave the stock a buy rating in a research report on Wednesday, August 16th. BidaskClub upgraded shares of Gap, Inc. (The) from a sell rating to a hold rating in a research report on Sunday, July 16th. Telsey Advisory Group upped their target price on shares of Gap, Inc. (The) from $27.00 to $31.00 and gave the stock a market perform rating in a research report on Tuesday, September 19th. Deutsche Bank AG upped their target price on shares of Gap, Inc. (The) from $23.00 to $24.00 and gave the stock a hold rating in a research report on Friday, August 18th. Finally, Zacks Investment Research upgraded shares of Gap, Inc. (The) from a hold rating to a buy rating and set a $25.00 target price on the stock in a research report on Friday, August 18th. Three analysts have rated the stock with a sell rating, twenty-one have given a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $26.79.
Shares of Gap, Inc. (GPS) traded up $0.40 during trading on Monday, reaching $26.38. 3,322,217 shares of the company’s stock traded hands, compared to its average volume of 5,596,147. The stock has a market capitalization of $10.37 billion, a P/E ratio of 12.90 and a beta of 0.86.
Gap, Inc. (The) (NYSE:GPS) last issued its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.06. The firm had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Gap, Inc. (The) had a net margin of 5.42% and a return on equity of 28.50%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. 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 announced a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date was Tuesday, October 3rd. Gap, Inc. (The)’s dividend payout ratio (DPR) is currently 43.81%.
In related news, CEO Jeff Kirwan sold 1,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $29.38, for a total value of $29,380.00. Following the completion of the transaction, the chief executive officer now owns 25,268 shares of the company’s stock, valued at $742,373.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Paul Joseph Chapman sold 4,898 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $22.82, for a total transaction of $111,772.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 676,682 shares of company stock valued at $18,906,180. 27.30% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Ffcm LLC grew its position in Gap, Inc. (The) by 198.0% in the second quarter. Ffcm LLC now owns 5,296 shares of the apparel retailer’s stock valued at $121,000 after purchasing an additional 3,519 shares in the last quarter. James Investment Research Inc. bought a new position in Gap, Inc. (The) in the second quarter valued at $144,000. Howe & Rusling Inc. bought a new position in Gap, Inc. (The) in the third quarter valued at $190,000. Paragon Capital Management Ltd acquired a new stake in Gap, Inc. (The) in the second quarter valued at $229,000. Finally, BB&T Securities LLC acquired a new stake in Gap, Inc. (The) in the second quarter valued at $233,000. 56.39% of the stock is owned by institutional investors and hedge funds.
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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