GAP (NYSE:GPS) Upgraded at Bank of America

Bank of America upgraded shares of GAP (NYSE:GPS) from an underperform rating to a neutral rating in a research note published on Wednesday, Marketbeat Ratings reports. Bank of America currently has $25.00 price objective on the apparel retailer’s stock, up from their previous price objective of $18.50.

Several other research analysts have also recently weighed in on the company. StockNews.com cut GAP from a strong-buy rating to a buy rating in a research report on Tuesday, June 4th. Evercore ISI boosted their price objective on shares of GAP from $24.00 to $32.00 and gave the stock an outperform rating in a research report on Friday, May 31st. Citigroup upgraded shares of GAP from a neutral rating to a buy rating and increased their target price for the stock from $21.00 to $28.00 in a report on Tuesday, May 7th. Jefferies Financial Group lifted their price target on shares of GAP from $17.00 to $28.00 and gave the company a hold rating in a research note on Friday, May 31st. Finally, Robert W. Baird increased their price objective on shares of GAP from $23.00 to $28.00 and gave the stock a neutral rating in a research note on Friday, May 31st. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $26.51.

GAP Stock Down 6.5 %

Shares of GAP stock opened at $21.70 on Wednesday. The company has a market capitalization of $8.14 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 1.40 and a beta of 2.38. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.50 and a quick ratio of 0.80. The business has a 50-day moving average of $23.97 and a two-hundred day moving average of $22.42. GAP has a 1 year low of $9.38 and a 1 year high of $30.75.

GAP (NYSE:GPS) last announced its earnings results on Thursday, May 30th. The apparel retailer reported $0.41 EPS for the quarter, topping the consensus estimate of $0.14 by $0.27. GAP had a net margin of 4.52% and a return on equity of 27.57%. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same period last year, the company posted $0.01 EPS. The business’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities analysts predict that GAP will post 1.78 EPS for the current year.

GAP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th were issued a $0.15 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $0.60 annualized dividend and a dividend yield of 2.76%. GAP’s dividend payout ratio is currently 33.33%.

Insider Transactions at GAP

In related news, Director Tracy Gardner sold 2,934 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $23.48, for a total value of $68,890.32. Following the transaction, the director now owns 51,901 shares in the company, valued at approximately $1,218,635.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Tracy Gardner sold 2,934 shares of GAP stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $23.48, for a total transaction of $68,890.32. Following the completion of the sale, the director now directly owns 51,901 shares of the company’s stock, valued at approximately $1,218,635.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Katrina O’connell sold 20,000 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $29.01, for a total value of $580,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,132 shares of company stock worth $654,003. 30.81% of the stock is owned by insiders.

Hedge Funds Weigh In On GAP

A number of hedge funds have recently bought and sold shares of GPS. Hennessy Advisors Inc. grew its position in shares of GAP by 14.1% during the 1st quarter. Hennessy Advisors Inc. now owns 2,305,600 shares of the apparel retailer’s stock worth $63,519,000 after purchasing an additional 285,000 shares in the last quarter. BNP Paribas Financial Markets grew its position in GAP by 33.0% during the fourth quarter. BNP Paribas Financial Markets now owns 367,130 shares of the apparel retailer’s stock worth $7,677,000 after buying an additional 91,151 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in GAP by 11.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 41,265 shares of the apparel retailer’s stock worth $863,000 after acquiring an additional 4,200 shares during the period. GAMMA Investing LLC acquired a new position in GAP in the 4th quarter valued at $42,000. Finally, New York State Teachers Retirement System lifted its position in shares of GAP by 1.2% during the 4th quarter. New York State Teachers Retirement System now owns 263,675 shares of the apparel retailer’s stock valued at $5,513,000 after acquiring an additional 3,109 shares during the period. 58.81% of the stock is owned by institutional investors.

About GAP

The Gap, Inc operates as an apparel retail company. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. Its products include adult apparel and accessories; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.