Gap, Inc. (The) (NYSE:GPS) Plans Quarterly Dividend of $0.23
Gap, Inc. (The) (NYSE:GPS) declared a quarterly dividend on Thursday, August 10th, RTT News reports. Stockholders of record on Wednesday, October 4th will be given a dividend of 0.23 per share by the apparel retailer on Wednesday, October 25th. This represents a $0.92 annualized dividend and a dividend yield of 3.99%.
Gap, Inc. (The) has increased its dividend by an average of 13.8% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Gap, Inc. (The) has a payout ratio of 46.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Gap, Inc. (The) to earn $2.05 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 44.9%.
Gap, Inc. (GPS) traded down 3.03% during trading on Thursday, hitting $23.05. The stock had a trading volume of 5,126,610 shares. Gap, Inc. has a 12-month low of $21.02 and a 12-month high of $30.74. The firm has a market cap of $9.12 billion, a P/E ratio of 13.32 and a beta of 0.87. The stock’s 50 day moving average price is $23.02 and its 200 day moving average price is $23.73. Gap, Inc. (The) also was the target of unusually large options trading on Monday. Stock traders acquired 619 put options on the company. This represents an increase of approximately 443% compared to the typical daily volume of 114 put options.
Gap, Inc. (The) (NYSE:GPS) last released its quarterly earnings results on Thursday, May 18th. The apparel retailer reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Gap, Inc. (The) had a return on equity of 29.75% and a net margin of 4.46%. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 EPS. On average, analysts anticipate that Gap, Inc. will post $2.00 EPS for the current fiscal year.
In other news, CEO Jeff Kirwan sold 5,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 29,548 shares in the company, valued at $735,154.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 8,000 shares of company stock valued at $192,960 over the last 90 days. Insiders own 27.30% of the company’s stock.
A number of research firms recently issued reports on GPS. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $26.00 target price on shares of Gap, Inc. (The) in a research note on Wednesday. BMO Capital Markets set a $23.00 target price on Gap, Inc. (The) and gave the company a “hold” rating in a research note on Tuesday. BidaskClub raised Gap, Inc. (The) from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Vetr raised Gap, Inc. (The) from a “sell” rating to a “hold” rating and set a $24.84 target price on the stock in a research note on Monday, May 15th. Finally, Zacks Investment Research raised Gap, Inc. (The) from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have issued a buy rating to the stock. Gap, Inc. (The) has an average rating of “Hold” and a consensus price target of $25.78.
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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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