Gap Inc. (GPS) Trading 4.9% Higher
Gap Inc. (NYSE:GPS) shares traded up 4.9% during trading on Friday . The company traded as high as $23.21 and last traded at $22.69, with a volume of 8,395,719 shares changing hands. The stock had previously closed at $21.63.
A number of research analysts have commented on the company. Nomura reaffirmed a “neutral” rating and set a $22.00 price target (up previously from $18.00) on shares of Gap in a research report on Friday. Stifel Nicolaus reaffirmed a “positive” rating on shares of Gap in a research report on Friday. BMO Capital Markets reaffirmed a “market perform” rating and set a $20.00 price target on shares of Gap in a research report on Thursday. FBR & Co reaffirmed a “market perform” rating and set a $22.00 price target on shares of Gap in a research report on Wednesday. Finally, Vetr lowered Gap from a “strong-buy” rating to a “buy” rating and set a $23.68 price target for the company. in a research report on Thursday, June 30th. Nine analysts have rated the stock with a sell rating, twenty-three have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $23.78.
The stock has a 50 day moving average of $19.71 and a 200 day moving average of $23.73. The stock has a market capitalization of $9.03 billion and a price-to-earnings ratio of 11.38.
Gap (NYSE:GPS) last issued its quarterly earnings data on Thursday, May 19th. The apparel retailer reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The firm earned $3.44 billion during the quarter, compared to analyst estimates of $3.51 billion. The company’s revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the company posted $0.56 EPS. On average, analysts forecast that Gap Inc. will post $1.86 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, July 1st. This represents a $0.92 annualized dividend and a dividend yield of 4.05%.
Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Andra AP fonden increased its position in Gap by 10.7% in the fourth quarter. Andra AP fonden now owns 117,700 shares of the apparel retailer’s stock valued at $2,907,000 after buying an additional 11,400 shares during the period. Wharton Business Group LLC bought a new position in Gap during the fourth quarter valued at $9,820,000. Janus Capital Management increased its position in Gap by 49.0% in the third quarter. Janus Capital Management now owns 57,368 shares of the apparel retailer’s stock valued at $1,635,000 after buying an additional 18,857 shares during the period. Numeric Investors LLC increased its position in Gap by 615.5% in the fourth quarter. Numeric Investors LLC now owns 60,100 shares of the apparel retailer’s stock valued at $1,484,000 after buying an additional 51,700 shares during the period. Finally, Swiss National Bank increased its position in Gap by 1.0% in the fourth quarter. Swiss National Bank now owns 453,831 shares of the apparel retailer’s stock valued at $11,210,000 after buying an additional 4,400 shares during the period.
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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