Gap, Inc. (The) (GPS) Downgraded by Vetr Inc.
Vetr cut shares of Gap, Inc. (The) (NYSE:GPS) from a strong-buy rating to a buy rating in a report published on Tuesday morning. Vetr currently has $26.42 price target on the apparel retailer’s stock.
A number of other equities analysts have also commented on GPS. Citigroup Inc. lowered Gap, Inc. (The) from a neutral rating to a sell rating and cut their price objective for the stock from $27.00 to $25.00 in a research note on Friday, November 18th. Jefferies Group lifted their price objective on Gap, Inc. (The) to $36.00 in a research note on Friday, November 18th. Zacks Investment Research raised Gap, Inc. (The) from a hold rating to a buy rating and set a $30.00 price objective on the stock in a research note on Tuesday, November 8th. RBC Capital Markets set a $23.00 price objective on Gap, Inc. (The) and gave the stock a hold rating in a research note on Tuesday, September 13th. Finally, Morgan Stanley reaffirmed an underweight rating on shares of Gap, Inc. (The) in a research note on Tuesday, November 29th. Four equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $24.92.
Shares of Gap, Inc. (NYSE:GPS) traded down 1.67% during trading on Tuesday, hitting $23.60. 868,599 shares of the stock traded hands. Gap, Inc. has a 52 week low of $17.00 and a 52 week high of $30.74. The company has a 50-day moving average of $24.34 and a 200-day moving average of $24.74. The firm has a market cap of $9.41 billion, a P/E ratio of 14.05 and a beta of 0.97.
Gap, Inc. (The) (NYSE:GPS) last released its quarterly earnings results on Thursday, November 17th. The apparel retailer reported $0.60 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. The company had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Gap, Inc. (The) had a return on equity of 32.19% and a net margin of 4.33%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 earnings per share. On average, analysts forecast that Gap, Inc. will post $1.96 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Wednesday, January 4th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, December 30th. This represents a $0.92 dividend on an annualized basis and a yield of 3.83%. Gap, Inc. (The)’s dividend payout ratio (DPR) is 55.09%.
In related news, EVP Paul Joseph Chapman sold 6,764 shares of the stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $24.99, for a total transaction of $169,032.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Jeff Kirwan sold 11,406 shares of the stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $25.38, for a total value of $289,484.28. Following the sale, the president now directly owns 19,094 shares in the company, valued at approximately $484,605.72. The disclosure for this sale can be found here. Corporate insiders own 30.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Gap, Inc. (The) by 16,151.9% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 3,798,070 shares of the apparel retailer’s stock worth $84,469,000 after buying an additional 3,774,700 shares during the period. Levin Capital Strategies L.P. bought a new stake in shares of Gap, Inc. (The) during the second quarter worth about $53,595,000. Morgan Stanley boosted its stake in shares of Gap, Inc. (The) by 459.2% in the third quarter. Morgan Stanley now owns 1,898,797 shares of the apparel retailer’s stock worth $42,229,000 after buying an additional 1,559,268 shares during the period. Bank of Montreal Can bought a new stake in shares of Gap, Inc. (The) during the second quarter worth about $29,343,000. Finally, Prudential Financial Inc. boosted its stake in shares of Gap, Inc. (The) by 99.4% in the second quarter. Prudential Financial Inc. now owns 2,432,145 shares of the apparel retailer’s stock worth $51,610,000 after buying an additional 1,212,479 shares during the period. 57.59% of the stock is currently owned by institutional investors and hedge funds.
About Gap, Inc. (The)
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.
To view Vetr’s full report, visit Vetr’s official website.
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