Weekly Research Analysts’ Ratings Updates for GAP (GPS)

A number of firms have modified their ratings and price targets on shares of GAP (NYSE: GPS) recently:

• 3/22/2024 – GAP had its price target raised by analysts at Barclays PLC from $26.00 to $28.00. They now have an “overweight” rating on the stock.
• 3/22/2024 – GAP had its price target raised by analysts at Wells Fargo & Company from $24.00 to $25.00. They now have an “overweight” rating on the stock.
• 3/22/2024 – GAP had its price target raised by analysts at Evercore ISI from $22.00 to $24.00. They now have an “outperform” rating on the stock.
• 3/22/2024 – GAP had its price target raised by analysts at BMO Capital Markets from $14.00 to $18.00. They now have a “market perform” rating on the stock.
• 3/22/2024 – GAP had its price target raised by analysts at Cowen Inc from $19.00 to $21.00. They now have a “market perform” rating on the stock.
• 3/22/2024 – GAP had its price target raised by analysts at Robert W. Baird to $23.00. They now have a “hold” rating on the stock.
• 3/22/2024 – GAP had its price target raised by analysts at KGI Securities from $9.10 to $25.20. They now have a “buy” rating on the stock.
• 3/22/2024 – GAP had its price target raised by analysts at The Goldman Sachs Group, Inc. from $18.00 to $24.00. They now have a “buy” rating on the stock.
• 3/8/2024 – GAP had its price target raised by analysts at Telsey Advisory Group from $17.00 to $22.00. They now have a “market perform” rating on the stock.
• 3/7/2024 – GAP was upgraded by analysts at TheStreet from a “c” rating to a “b-” rating.
• 3/4/2024 – GAP had its “market perform” rating reaffirmed by analysts at Telsey Advisory Group. They now have a $22.00 price target on the stock, up previously from $17.00.
• 2/26/2024 – GAP was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating. They now have a $20.00 price target on the stock, up previously from $16.00.
• 2/15/2024 – GAP was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

GAP Trading Down 0.0 %

Shares of GPS stock opened at $23.13 on Thursday. The Gap, Inc. has a 1-year low of $7.22 and a 1-year high of $28.59. The firm’s 50-day simple moving average is $22.29 and its 200-day simple moving average is $18.75. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.42 and a quick ratio of 0.78. The firm has a market cap of $8.64 billion, a P/E ratio of 17.26, a PEG ratio of 1.44 and a beta of 2.28.

GAP (NYSE:GPS) last posted its quarterly earnings results on Thursday, March 7th. The apparel retailer reported $0.49 EPS for the quarter, beating the consensus estimate of $0.20 by $0.29. GAP had a net margin of 3.37% and a return on equity of 22.56%. The firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter last year, the firm posted ($0.75) earnings per share. GAP’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities analysts forecast that The Gap, Inc. will post 1.36 EPS for the current year.

GAP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.59%. GAP’s dividend payout ratio is currently 44.78%.

Insider Activity

In other news, CEO Mark Breitbard sold 93,809 shares of GAP stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $28.14, for a total transaction of $2,639,785.26. Following the sale, the chief executive officer now owns 141,377 shares in the company, valued at $3,978,348.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Mark Breitbard sold 93,809 shares of GAP stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $28.14, for a total transaction of $2,639,785.26. Following the sale, the chief executive officer now owns 141,377 shares in the company, valued at $3,978,348.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sarah Gilligan sold 29,425 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $22.58, for a total transaction of $664,416.50. Following the sale, the insider now directly owns 1,697 shares of the company’s stock, valued at approximately $38,318.26. The disclosure for this sale can be found here. Insiders have sold 266,723 shares of company stock worth $6,886,765 over the last 90 days. Company insiders own 31.00% of the company’s stock.

Institutional Trading of GAP

A number of hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. grew its position in shares of GAP by 73.4% during the third quarter. Ameriprise Financial Inc. now owns 3,572,524 shares of the apparel retailer’s stock worth $37,976,000 after buying an additional 1,512,067 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of GAP by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 3,122,321 shares of the apparel retailer’s stock worth $25,633,000 after buying an additional 40,348 shares in the last quarter. Geode Capital Management LLC boosted its holdings in GAP by 5.0% in the second quarter. Geode Capital Management LLC now owns 3,036,564 shares of the apparel retailer’s stock worth $27,117,000 after purchasing an additional 145,468 shares during the period. Marshall Wace LLP acquired a new position in GAP in the fourth quarter worth $20,617,000. Finally, BNP Paribas Arbitrage SNC boosted its holdings in GAP by 57.0% in the first quarter. BNP Paribas Arbitrage SNC now owns 1,325,293 shares of the apparel retailer’s stock worth $13,306,000 after purchasing an additional 481,339 shares during the period. Institutional investors and hedge funds own 58.81% of the company’s stock.

The Gap, Inc operates as an apparel retail company. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. Its products include adult apparel and accessories; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.