GAP (NYSE:GAP) Price Target Raised to $27.00

GAP (NYSE:GAP) had its price target raised by Bank of America from $23.00 to $27.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts have also recently weighed in on GAP. Jefferies Financial Group upgraded GAP from a “hold” rating to a “buy” rating and increased their price target for the stock from $22.00 to $30.00 in a research report on Friday, November 14th. Morgan Stanley upped their price objective on GAP from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Friday. The Goldman Sachs Group increased their target price on GAP from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 target price on shares of GAP in a research note on Thursday, November 13th. Finally, UBS Group upped their price target on shares of GAP from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, November 10th. Eight research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $27.43.

GAP Trading Up 8.2%

NYSE GAP opened at $24.96 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.96 and a current ratio of 1.68. GAP has a one year low of $16.99 and a one year high of $29.29. The company has a 50-day simple moving average of $22.58 and a 200-day simple moving average of $22.49. The firm has a market capitalization of $9.26 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 2.70 and a beta of 2.17.

GAP (NYSE:GAP) last released its quarterly earnings data on Thursday, November 20th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. GAP had a net margin of 5.86% and a return on equity of 27.04%. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. GAP’s quarterly revenue was up 3.0% on a year-over-year basis. GAP has set its FY 2025 guidance at EPS. On average, equities analysts forecast that GAP will post 2.02 earnings per share for the current year.

GAP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 7th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, January 7th. GAP’s dividend payout ratio (DPR) is 28.21%.

Insider Transactions at GAP

In related news, Director Robert J. Fisher sold 500,000 shares of the company’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $22.90, for a total value of $11,450,000.00. Following the completion of the sale, the director owned 2,829,502 shares of the company’s stock, valued at $64,795,595.80. This represents a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William Sydney Fisher sold 200,000 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $23.86, for a total transaction of $4,772,000.00. Following the completion of the transaction, the director owned 3,253,453 shares of the company’s stock, valued at $77,627,388.58. This represents a 5.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 943,064 shares of company stock worth $22,011,784. Company insiders own 30.56% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio increased its stake in shares of GAP by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 71,867 shares of the company’s stock valued at $1,537,000 after acquiring an additional 447 shares during the period. Oregon Public Employees Retirement Fund lifted its position in GAP by 1.3% in the third quarter. Oregon Public Employees Retirement Fund now owns 45,799 shares of the company’s stock worth $980,000 after purchasing an additional 600 shares during the period. Root Financial Partners LLC bought a new position in GAP during the 3rd quarter valued at $27,000. Cornerstone Planning Group LLC bought a new position in GAP during the 3rd quarter valued at $35,000. Finally, California State Teachers Retirement System increased its position in shares of GAP by 0.8% during the 2nd quarter. California State Teachers Retirement System now owns 226,506 shares of the company’s stock valued at $4,940,000 after purchasing an additional 1,703 shares during the period. 58.81% of the stock is currently owned by institutional investors.

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.