GAP (NYSE:GPS) had its price target trimmed by Nomura from $22.00 to $32.00 in a report issued on Friday, The Fly reports. The brokerage currently has a neutral rating on the apparel retailer’s stock.

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on GAP from $24.00 to $17.00 and set an underweight rating on the stock in a research note on Friday. Bank of America reaffirmed an underperform rating and issued a $15.00 price target (down from $24.00) on shares of GAP in a research note on Friday. ValuEngine cut GAP from a sell rating to a strong sell rating in a research note on Monday, May 13th. Zacks Investment Research raised GAP from a sell rating to a hold rating in a research note on Monday, May 13th. Finally, Guggenheim reissued a hold rating on shares of GAP in a research note on Sunday, April 21st. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $26.52.

Shares of GPS stock opened at $18.79 on Friday. The firm has a market capitalization of $7.07 billion, a P/E ratio of 7.25, a PEG ratio of 0.98 and a beta of 0.79. GAP has a twelve month low of $17.12 and a twelve month high of $34.21. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.70 and a current ratio of 1.49.

GAP (NYSE:GPS) last issued its quarterly earnings results on Thursday, May 30th. The apparel retailer reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.07). The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.78 billion. GAP had a return on equity of 26.73% and a net margin of 6.46%. GAP’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 earnings per share. As a group, equities analysts anticipate that GAP will post 2.12 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be paid a $0.2425 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 5.16%. GAP’s dividend payout ratio is currently 37.45%.

In other news, EVP Julie Gruber sold 3,286 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $24.00, for a total value of $78,864.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sonia Syngal sold 11,764 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $26.51, for a total value of $311,863.64. The disclosure for this sale can be found here. Corporate insiders own 37.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in GPS. BlackRock Inc. boosted its position in shares of GAP by 28.2% during the first quarter. BlackRock Inc. now owns 20,412,955 shares of the apparel retailer’s stock valued at $534,413,000 after buying an additional 4,491,047 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of GAP by 2,043.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,488,883 shares of the apparel retailer’s stock valued at $135,000 after buying an additional 3,326,106 shares during the last quarter. Norges Bank purchased a new stake in shares of GAP during the fourth quarter valued at $82,347,000. Unigestion Holding SA boosted its position in shares of GAP by 10,276.7% during the fourth quarter. Unigestion Holding SA now owns 1,930,061 shares of the apparel retailer’s stock valued at $49,719,000 after buying an additional 1,911,461 shares during the last quarter. Finally, Vanguard Group Inc boosted its position in shares of GAP by 5.4% during the third quarter. Vanguard Group Inc now owns 27,822,458 shares of the apparel retailer’s stock valued at $802,678,000 after buying an additional 1,433,737 shares during the last quarter. 57.66% of the stock is currently owned by institutional investors.

About GAP

The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, and Hill City brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.

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