GAP’s (GPS) “Market Perform” Rating Reaffirmed at Oppenheimer
Oppenheimer reaffirmed their market perform rating on shares of GAP (NYSE:GPS) in a research report sent to investors on Thursday morning. Oppenheimer currently has a $33.00 price objective on the apparel retailer’s stock.
Several other research analysts have also commented on the company. Citigroup lowered GAP from a neutral rating to a sell rating and cut their price target for the stock from $32.50 to $25.00 in a research report on Thursday, November 30th. ValuEngine raised GAP from a buy rating to a strong-buy rating in a research report on Thursday, November 30th. Cowen reaffirmed a hold rating and set a $32.00 price target on shares of GAP in a research report on Wednesday, November 22nd. Zacks Investment Research raised GAP from a sell rating to a hold rating in a research report on Monday, November 20th. Finally, KeyCorp set a $35.00 price target on GAP and gave the stock a buy rating in a research report on Thursday, November 16th. Four analysts have rated the stock with a sell rating, twenty-three have given a hold rating, six 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 price target of $27.94.
Shares of GAP (GPS) traded up $0.38 during midday trading on Thursday, hitting $33.56. The stock had a trading volume of 7,148,000 shares, compared to its average volume of 5,981,493. The company has a quick ratio of 0.77, a current ratio of 1.73 and a debt-to-equity ratio of 0.41. GAP has a 1-year low of $21.02 and a 1-year high of $34.41. The firm has a market cap of $13,322.24, a price-to-earnings ratio of 16.88, a PEG ratio of 2.04 and a beta of 0.95.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 3rd will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $0.92 annualized dividend and a dividend yield of 2.74%. GAP’s dividend payout ratio (DPR) is currently 42.40%.
In related news, VP Dara Bazzano sold 1,593 shares of GAP stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $30.04, for a total value of $47,853.72. Following the sale, the vice president now directly owns 2,866 shares in the company, valued at $86,094.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jeff Kirwan sold 1,000 shares of GAP stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $26.11, for a total value of $26,110.00. Following the completion of the sale, the chief executive officer now owns 24,268 shares in the company, valued at $633,637.48. The disclosure for this sale can be found here. Insiders sold a total of 2,212,077 shares of company stock worth $67,302,126 over the last quarter. Company insiders own 27.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its stake in shares of GAP by 339.7% in the second quarter. Janus Henderson Group PLC now owns 141,919 shares of the apparel retailer’s stock valued at $3,121,000 after buying an additional 109,643 shares in the last quarter. Alpha Windward LLC boosted its stake in shares of GAP by 1,046.5% in the third quarter. Alpha Windward LLC now owns 22,415 shares of the apparel retailer’s stock valued at $662,000 after buying an additional 20,460 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of GAP by 10.6% in the third quarter. Bank of New York Mellon Corp now owns 10,710,283 shares of the apparel retailer’s stock valued at $316,275,000 after buying an additional 1,030,160 shares in the last quarter. Empirical Finance LLC boosted its stake in shares of GAP by 82.4% in the second quarter. Empirical Finance LLC now owns 71,149 shares of the apparel retailer’s stock valued at $1,565,000 after buying an additional 32,145 shares in the last quarter. Finally, Bridgewater Associates LP boosted its stake in shares of GAP by 98.4% in the second quarter. Bridgewater Associates LP now owns 551,572 shares of the apparel retailer’s stock valued at $12,129,000 after buying an additional 273,572 shares in the last quarter. Hedge funds and other institutional investors own 54.78% 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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