Gap Inc. (GPS) Receives Neutral Rating from MKM Partners
Gap Inc. (NYSE:GPS)‘s stock had its “neutral” rating reiterated by investment analysts at MKM Partners in a research report issued on Wednesday. They currently have a $25.00 price target on the apparel retailer’s stock. MKM Partners’ price target would indicate a potential downside of 5.87% from the company’s previous close.
Other equities research analysts have also recently issued research reports about the stock. Wedbush reiterated a “neutral” rating and set a $20.00 price target on shares of Gap in a research report on Wednesday, June 15th. Cowen and Company reiterated a “hold” rating on shares of Gap in a research report on Saturday, July 9th. Guggenheim reissued a “hold” rating on shares of Gap in a research note on Saturday, July 9th. Jefferies Group reissued a “buy” rating on shares of Gap in a research note on Saturday, July 9th. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Gap in a research note on Saturday, July 9th. Six analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Gap currently has a consensus rating of “Hold” and an average price target of $25.29.
Gap (NYSE:GPS) traded up 1.05% on Wednesday, reaching $26.84. 3,584,966 shares of the company’s stock traded hands. The firm has a market cap of $10.70 billion, a price-to-earnings ratio of 15.12 and a beta of 1.28. The stock’s 50 day moving average is $23.86 and its 200 day moving average is $22.97. Gap has a 52-week low of $17.00 and a 52-week high of $30.49.
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Gap (NYSE:GPS) last issued its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.60 EPS for the quarter, topping the consensus estimate of $0.59 by $0.01. Gap had a net margin of 4.60% and a return on equity of 33.26%. The company earned $3.85 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the previous year, the company earned $0.64 EPS. Gap’s revenue was down 1.2% on a year-over-year basis. On average, equities research analysts predict that Gap will post ($0.01) EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Monday, October 3rd. Gap’s dividend payout ratio is presently 51.98%.
Several hedge funds have recently made changes to their positions in the company. Summit Street Capital Management LLC increased its stake in shares of Gap by 2.8% in the first quarter. Summit Street Capital Management LLC now owns 82,679 shares of the apparel retailer’s stock valued at $2,431,000 after buying an additional 2,230 shares during the period. AXA increased its stake in shares of Gap by 4.1% in the first quarter. AXA now owns 1,682,660 shares of the apparel retailer’s stock valued at $49,470,000 after buying an additional 66,400 shares during the period. Pictet Asset Management Ltd. increased its stake in shares of Gap by 1.1% in the first quarter. Pictet Asset Management Ltd. now owns 187,080 shares of the apparel retailer’s stock valued at $5,172,000 after buying an additional 2,090 shares during the period. Lazard Asset Management LLC increased its stake in shares of Gap by 25,265.6% in the first quarter. Lazard Asset Management LLC now owns 2,020,625 shares of the apparel retailer’s stock valued at $59,406,000 after buying an additional 2,012,659 shares during the period. Finally, State Street Corp increased its stake in shares of Gap by 1.3% in the first quarter. State Street Corp now owns 10,878,900 shares of the apparel retailer’s stock valued at $319,845,000 after buying an additional 140,396 shares during the period. 57.42% of the stock is owned by institutional investors.
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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