Gap Inc. (GPS) Shares Down 3.4%
Gap Inc. (NYSE:GPS) traded down 3.4% during trading on Tuesday . The stock traded as low as $25.30 and last traded at $25.59, with a volume of 3,418,320 shares. The stock had previously closed at $26.48.
Several research analysts have issued reports on the stock. Topeka Capital Markets cut shares of Gap from a “buy” rating to a “hold” rating and set a $22.00 target price for the company. in a report on Thursday, May 26th. Jefferies Group reaffirmed a “buy” rating on shares of Gap in a report on Monday. Stifel Nicolaus reaffirmed a “hold” rating on shares of Gap in a report on Saturday, June 4th. Vetr raised shares of Gap from a “sell” rating to a “hold” rating and set a $25.65 target price for the company in a report on Monday, July 25th. Finally, Credit Suisse Group AG reaffirmed a “sell” rating and issued a $21.00 target price (down from $27.00) on shares of Gap in a report on Tuesday, May 10th. Seven equities research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Gap currently has a consensus rating of “Hold” and a consensus target price of $25.14.
The company has a market capitalization of $9.80 billion and a P/E ratio of 13.88. The company has a 50 day moving average price of $25.16 and a 200-day moving average price of $24.00.
Gap (NYSE:GPS) last issued its quarterly earnings data on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.01. The company earned $3.85 billion during the quarter, compared to analysts’ expectations of $3.79 billion. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 earnings per share. On average, equities analysts anticipate that Gap Inc. will post $1.92 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $0.92 annualized dividend and a yield of 3.70%.
An institutional investor recently raised its position in Gap stock. American International Group Inc. raised its position in shares of Gap Inc. (NYSE:GPS) by 9,228.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,950,963 shares of the apparel retailer’s stock after buying an additional 12,812,126 shares during the period. Gap makes up 1.3% of American International Group Inc.’s holdings, making the stock its 22nd largest position. American International Group Inc. owned 3.22% of Gap worth $319,888,000 as of its most recent filing with the SEC.
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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