GAP (NYSE:GAP) Given New $30.00 Price Target at Citigroup

GAP (NYSE:GAP) had its target price decreased by Citigroup from $33.00 to $30.00 in a research note issued to investors on Friday,Benzinga reports. Citigroup currently has a buy rating on the stock.

GAP has been the topic of several other reports. Robert W. Baird lowered their target price on GAP from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. The Goldman Sachs Group decreased their price target on GAP from $34.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company lowered GAP from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $30.00 to $24.00 in a research note on Wednesday, April 30th. Morgan Stanley decreased their price target on GAP from $30.00 to $27.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $29.00 price target (up from $26.00) on shares of GAP in a research note on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, GAP has a consensus rating of “Moderate Buy” and a consensus price target of $28.47.

GAP Stock Down 19.8%

GAP opened at $22.42 on Friday. GAP has a 12 month low of $16.99 and a 12 month high of $29.29. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.54 and a quick ratio of 0.84. The stock has a market cap of $8.44 billion, a P/E ratio of 10.38, a P/E/G ratio of 0.94 and a beta of 2.24. The stock’s 50 day moving average price is $22.44 and its 200 day moving average price is $22.91.

GAP (NYSE:GAP) last posted its earnings results on Thursday, May 29th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.44 by $0.07. GAP had a return on equity of 29.03% and a net margin of 5.40%. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.41 billion. During the same period last year, the firm earned $0.41 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. As a group, research analysts predict that GAP will post 2.02 earnings per share for the current year.

GAP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 30th. Stockholders of record on Wednesday, July 9th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Wednesday, July 9th. GAP’s dividend payout ratio is presently 29.86%.

Insider Transactions at GAP

In other news, insider Julie Gruber sold 1,537 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $19.59, for a total value of $30,109.83. Following the completion of the sale, the insider now owns 37,395 shares in the company, valued at $732,568.05. This represents a 3.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Katrina O’connell sold 80,029 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $20.35, for a total value of $1,628,590.15. Following the completion of the sale, the chief financial officer now owns 8,290 shares of the company’s stock, valued at $168,701.50. The trade was a 90.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 228,880 shares of company stock valued at $4,985,854 in the last three months. 31.00% of the stock is currently owned by corporate insiders.

Institutional Trading of GAP

A number of hedge funds have recently modified their holdings of GAP. Hexagon Capital Partners LLC purchased a new stake in shares of GAP in the first quarter valued at $30,000. First Horizon Advisors Inc. purchased a new stake in shares of GAP in the first quarter valued at $75,000. Brooklyn Investment Group purchased a new stake in shares of GAP during the first quarter worth $80,000. Deseret Mutual Benefit Administrators purchased a new stake in shares of GAP during the first quarter worth $81,000. Finally, Covestor Ltd purchased a new stake in shares of GAP during the first quarter worth $82,000. Hedge funds and other institutional investors own 58.81% of the company’s stock.

About GAP

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.