Gap Inc. (GPS) Sees Strong Trading Volume
Gap Inc. (NYSE:GPS) saw unusually-strong trading volume on Wednesday . Approximately 11,883,743 shares were traded during mid-day trading, an increase of 81% from the previous session’s volume of 6,572,503 shares.The stock last traded at $21.79 and had previously closed at $21.27.
A number of equities analysts recently weighed in on GPS shares. MKM Partners dropped their price target on Gap from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, April 8th. Stifel Nicolaus lifted their price target on Gap from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, March 10th. Mizuho dropped their price target on Gap from $18.00 to $17.00 and set an “underperform” rating on the stock in a research note on Friday, May 20th. Vetr raised Gap from a “hold” rating to a “buy” rating and set a $30.26 price target on the stock in a research note on Wednesday, March 23rd. Finally, Wedbush restated a “neutral” rating and set a $20.00 price objective on shares of Gap in a research report on Wednesday, June 15th. Nine investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and six have issued a buy rating to the stock. Gap currently has an average rating of “Hold” and an average target price of $23.96.
The company’s 50 day moving average price is $19.42 and its 200-day moving average price is $23.76. The company has a market capitalization of $8.67 billion and a price-to-earnings ratio of 10.93.
Gap (NYSE:GPS) last posted its quarterly earnings data on Thursday, May 19th. The apparel retailer reported $0.32 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.32. The company had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter last year, the business earned $0.56 EPS. Gap’s revenue was down 6.0% on a year-over-year basis. Analysts expect that Gap Inc. will post $1.83 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, July 1st. This represents a $0.92 dividend on an annualized basis and a yield of 4.22%.
Other institutional investors have modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Gap by 17.5% in the fourth quarter. Vanguard Group Inc. now owns 18,407,316 shares of the apparel retailer’s stock valued at $454,661,000 after buying an additional 2,744,670 shares during the last quarter. Winton Capital Group Ltd raised its position in shares of Gap by 25.8% in the fourth quarter. Winton Capital Group Ltd now owns 2,744,753 shares of the apparel retailer’s stock valued at $67,795,000 after buying an additional 563,202 shares during the last quarter. Wharton Business Group LLC acquired a new position in shares of Gap during the fourth quarter valued at about $9,820,000. First Trust Advisors LP raised its position in shares of Gap by 66.5% in the fourth quarter. First Trust Advisors LP now owns 676,123 shares of the apparel retailer’s stock valued at $16,700,000 after buying an additional 269,930 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of Gap during the fourth quarter valued at about $3,840,000.
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.