Shares of Gap Inc. (NYSE:GPS) were down 6.4% during mid-day trading on Tuesday . The company traded as low as $23.79 and last traded at $23.98, with a volume of 7,422,330 shares trading hands. The stock had previously closed at $25.62.

A number of analysts have issued reports on GPS shares. Telsey Advisory Group reduced their target price on shares of Gap from $32.00 to $23.00 and set a “market perform” rating for the company in a research note on Tuesday, May 10th. Deutsche Bank AG started coverage on shares of Gap in a research note on Tuesday, April 26th. They issued a “sell” rating and a $21.00 target price for the company. Bank of America Corp. reiterated a “sell” rating on shares of Gap in a research note on Friday, May 20th. Wolfe Research upgraded shares of Gap from a “market perform” rating to an “outperform” rating in a research note on Friday, June 17th. Finally, MKM Partners reduced their target price on shares of Gap from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, May 10th. Seven research analysts have rated the stock with a sell rating, twenty-six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $25.02.

The firm’s 50 day moving average price is $23.15 and its 200 day moving average price is $23.77. The stock has a market cap of $9.56 billion and a price-to-earnings ratio of 12.04.

Gap (NYSE:GPS) last issued its quarterly earnings results on Thursday, May 19th. The apparel retailer reported $0.32 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.32. The company earned $3.44 billion during the quarter, compared to the consensus estimate of $3.51 billion. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 EPS. Analysts predict that Gap Inc. will post $1.87 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date was Friday, July 1st.

Other hedge funds and institutional investors have added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Gap by 17.5% in the fourth quarter. Vanguard Group Inc. now owns 18,407,316 shares of the apparel retailer’s stock worth $454,661,000 after buying an additional 2,744,670 shares in the last quarter. American International Group Inc. boosted its position in Gap by 9,228.2% in the fourth quarter. American International Group Inc. now owns 12,950,963 shares of the apparel retailer’s stock worth $319,888,000 after buying an additional 12,812,126 shares in the last quarter. BlackRock Advisors LLC boosted its position in Gap by 6.7% in the fourth quarter. BlackRock Advisors LLC now owns 9,344,626 shares of the apparel retailer’s stock worth $230,812,000 after buying an additional 587,827 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Gap by 20.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 498,729 shares of the apparel retailer’s stock worth $12,319,000 after buying an additional 85,549 shares in the last quarter. Finally, Mizuho Trust & Banking Co. Ltd. boosted its position in Gap by 1.4% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 386,802 shares of the apparel retailer’s stock worth $9,763,000 after buying an additional 5,207 shares in the last quarter.

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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