GAP (NYSE:GAP) Price Target Raised to $33.00 at Barclays

GAP (NYSE:GAP) had its target price hoisted by Barclays from $26.00 to $33.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also recently commented on GAP. Robert W. Baird lowered their target price on shares of GAP from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. The Goldman Sachs Group lowered their target price on shares of GAP from $34.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Citigroup reaffirmed a “buy” rating and set a $33.00 target price (up from $22.00) on shares of GAP in a report on Friday, May 23rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $29.00 target price (up from $26.00) on shares of GAP in a report on Wednesday, May 21st. Finally, Wells Fargo & Company lowered shares of GAP from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $30.00 to $24.00 in a research report on Wednesday, April 30th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, GAP presently has an average rating of “Moderate Buy” and a consensus price target of $28.80.

GAP Stock Down 0.2%

GAP stock opened at $28.39 on Tuesday. GAP has a twelve month low of $16.99 and a twelve month high of $29.29. The company’s 50-day moving average price is $22.14 and its two-hundred day moving average price is $22.83. The stock has a market cap of $10.69 billion, a P/E ratio of 13.14, a P/E/G ratio of 0.94 and a beta of 2.24. The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 0.47.

GAP (NYSE:GAP) last announced its earnings results on Thursday, March 6th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.36 by $0.18. GAP had a net margin of 5.40% and a return on equity of 29.03%. The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.07 billion. As a group, analysts expect that GAP will post 2.02 EPS for the current year.

GAP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Shareholders of record on Wednesday, July 9th will be given a $0.165 dividend. The ex-dividend date is Wednesday, July 9th. This represents a $0.66 dividend on an annualized basis and a yield of 2.32%. GAP’s dividend payout ratio is currently 29.86%.

Insider Buying and Selling at GAP

In other GAP news, insider Sarah Gilligan sold 29,813 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $20.34, for a total value of $606,396.42. Following the sale, the insider now owns 2,634 shares in the company, valued at $53,575.56. This trade represents a 91.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Elisabeth B. Donohue sold 3,539 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $21.04, for a total transaction of $74,460.56. Following the completion of the sale, the director now owns 4,000 shares in the company, valued at $84,160. This represents a 46.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 228,880 shares of company stock worth $4,985,854 over the last quarter. Corporate insiders own 31.00% of the company’s stock.

Hedge Funds Weigh In On GAP

A number of hedge funds have recently modified their holdings of GAP. Dodge & Cox acquired a new position in shares of GAP during the first quarter worth $592,222,000. Ameriprise Financial Inc. acquired a new position in shares of GAP during the first quarter worth $63,674,000. Bank of New York Mellon Corp acquired a new position in shares of GAP during the first quarter worth $56,763,000. LSV Asset Management acquired a new position in shares of GAP during the first quarter worth $32,655,000. Finally, Rhumbline Advisers acquired a new position in shares of GAP during the first quarter worth $12,210,000. Institutional investors and hedge funds own 58.81% of the company’s stock.

GAP Company Profile

Gap, Inc operates as a global apparel retail company, which offers clothing, apparel, accessories, and personal care products for men, women, and children. The firm operates through the following segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Other. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody, and GapFit collections.