TD Cowen Raises GAP (NYSE:GPS) Price Target to $28.00

GAP (NYSE:GPS) had its price target lifted by TD Cowen from $24.00 to $28.00 in a report published on Monday, Benzinga reports. TD Cowen currently has a hold rating on the apparel retailer’s stock.

GPS has been the topic of a number of other research reports. Robert W. Baird increased their target price on GAP from $23.00 to $28.00 and gave the company a neutral rating in a research report on Friday, May 31st. Barclays upped their price target on shares of GAP from $26.00 to $28.00 and gave the stock an overweight rating in a research report on Friday, March 22nd. Cowen lifted their price objective on GAP from $19.00 to $21.00 and gave the stock a market perform rating in a report on Friday, March 22nd. BMO Capital Markets increased their target price on GAP from $18.00 to $23.00 and gave the company a market perform rating in a report on Friday, May 31st. Finally, Jefferies Financial Group raised their target price on GAP from $17.00 to $28.00 and gave the company a hold rating in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $25.86.

GAP Price Performance

NYSE:GPS opened at $26.58 on Monday. 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 company has a 50 day moving average price of $22.74 and a 200-day moving average price of $21.46. GAP has a 1-year low of $8.49 and a 1-year high of $30.75. The firm has a market cap of $9.97 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 5.78 and a beta of 2.35.

GAP (NYSE:GPS) last issued its quarterly earnings data on Thursday, May 30th. The apparel retailer reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.27. GAP had a net margin of 4.52% and a return on equity of 27.57%. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter in the prior year, the firm posted $0.01 earnings per share. The company’s revenue was up 3.4% compared to the same quarter last year. Equities research analysts forecast that GAP will post 1.49 EPS for the current year.

GAP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be given a $0.15 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $0.60 annualized dividend and a yield of 2.26%. GAP’s payout ratio is 33.33%.

Insider Buying and Selling at GAP

In other GAP news, CFO Katrina O’connell sold 20,000 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $29.01, for a total transaction of $580,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Mark Breitbard sold 27,222 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $28.18, for a total transaction of $767,115.96. Following the transaction, the chief executive officer now owns 123,985 shares of the company’s stock, valued at approximately $3,493,897.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Katrina O’connell sold 20,000 shares of the firm’s stock in a transaction dated 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. Insiders have sold 286,723 shares of company stock worth $7,466,965 over the last quarter. 31.00% of the stock is currently owned by company insiders.

Institutional Trading of GAP

Several hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its holdings in GAP by 33.0% in the fourth quarter. BNP Paribas Financial Markets now owns 367,130 shares of the apparel retailer’s stock valued at $7,677,000 after purchasing an additional 91,151 shares during the period. Nisa Investment Advisors LLC grew its position in shares of GAP by 11.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 41,265 shares of the apparel retailer’s stock worth $863,000 after buying an additional 4,200 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in GAP by 90.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 74,080 shares of the apparel retailer’s stock valued at $787,000 after acquiring an additional 35,223 shares in the last quarter. GAMMA Investing LLC purchased a new position in GAP in the fourth quarter worth approximately $42,000. Finally, New York State Teachers Retirement System grew its holdings in 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 worth $5,513,000 after acquiring an additional 3,109 shares in the last quarter. Institutional investors and hedge funds own 58.81% of the company’s stock.

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.