Gap Inc (NYSE:GPS) was downgraded by Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday. They presently have a $24.84 price objective on the apparel retailer’s stock. Vetr‘s price objective would indicate a potential downside of 2.28% from the stock’s current price.

GPS has been the topic of a number of other reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $36.00 target price on shares of Gap in a research report on Friday, January 6th. Guggenheim started coverage on shares of Gap in a research report on Thursday, March 9th. They issued a “neutral” rating on the stock. Wedbush dropped their target price on shares of Gap from $27.00 to $23.00 and set a “neutral” rating on the stock in a research report on Friday, February 24th. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $25.50 target price (up from $24.50) on shares of Gap in a research report on Friday, March 17th. Finally, Citigroup Inc dropped their target price on shares of Gap from $24.00 to $22.00 and set a “sell” rating on the stock in a research report on Tuesday, February 7th. Three research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $25.15.

Analyst Recommendations for Gap (NYSE:GPS)

Gap (NYSE:GPS) traded up 4.95% during midday trading on Thursday, hitting $25.42. The stock had a trading volume of 10,134,376 shares. The firm has a market capitalization of $10.16 billion, a P/E ratio of 15.04 and a beta of 0.99. Gap has a 52-week low of $17.00 and a 52-week high of $30.74. The firm has a 50-day moving average of $23.96 and a 200 day moving average of $24.74. Gap also saw some unusual options trading activity on Monday. Investors bought 474 put options on the company. This is an increase of 331% compared to the average volume of 110 put options.

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Gap (NYSE:GPS) last announced its quarterly earnings data on Thursday, February 23rd. The apparel retailer reported $0.51 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.51. Gap had a net margin of 4.33% and a return on equity of 32.19%. The company had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the prior year, the firm posted $0.57 EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, equities analysts forecast that Gap will post $1.99 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 26th. Shareholders of record on Wednesday, April 5th will be given a dividend of $0.23 per share. The ex-dividend date is Monday, April 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 3.62%. Gap’s dividend payout ratio (DPR) is 55.09%.

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In other Gap news, insider Andi Owen sold 38,278 shares of Gap stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $23.97, for a total transaction of $917,523.66. Following the transaction, the insider now directly owns 30,778 shares of the company’s stock, valued at $737,748.66. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert J. Fisher sold 500,000 shares of Gap stock in a transaction that occurred on Friday, March 31st. The shares were sold at an average price of $24.58, for a total transaction of $12,290,000.00. Following the transaction, the director now directly owns 8,867,728 shares in the company, valued at $217,968,754.24. The disclosure for this sale can be found here. Insiders own 30.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. acquired a new position in shares of Gap during the third quarter worth $161,000. Nationwide Fund Advisors boosted its position in shares of Gap by 429.0% in the third quarter. Nationwide Fund Advisors now owns 334,529 shares of the apparel retailer’s stock worth $7,440,000 after buying an additional 271,291 shares during the period. Regentatlantic Capital LLC acquired a new position in shares of Gap during the third quarter worth $211,000. Miller Howard Investments Inc. NY boosted its position in shares of Gap by 5.5% in the third quarter. Miller Howard Investments Inc. NY now owns 43,053 shares of the apparel retailer’s stock worth $957,000 after buying an additional 2,230 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Gap by 2.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 36,632 shares of the apparel retailer’s stock worth $815,000 after buying an additional 756 shares during the period. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

Gap Company Profile

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.

5 Day Chart for NYSE:GPS

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