GAP (NYSE:GAP) Given New $33.00 Price Target at Barclays

GAP (NYSE:GAP - Free Report) had its price target hoisted by Barclays from $26.00 to $33.00 in a research note published on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also issued reports on GAP. Jefferies Financial Group reaffirmed a "hold" rating and set a $29.00 target price (up from $26.00) on shares of GAP in a research report on Wednesday, May 21st. UBS Group upped their target price on GAP from $19.00 to $29.00 and gave the company a "neutral" rating in a research report on Wednesday, May 21st. Citigroup reaffirmed a "buy" rating and set a $33.00 target price (up from $22.00) on shares of GAP in a research report on Friday, May 23rd. Telsey Advisory Group reaffirmed a "market perform" rating and set a $26.00 target price on shares of GAP in a research report on Friday, May 23rd. Finally, Wells Fargo & Company lowered GAP from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $30.00 to $24.00 in a research report on Wednesday, April 30th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. 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%

NYSE GAP traded down $5.53 on Tuesday, reaching $22.42. 58,604,639 shares of the stock traded hands, compared to its average volume of 7,565,454. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.54. The company has a fifty day moving average price of $22.44 and a 200-day moving average price of $22.91. The company has a market cap of $8.44 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 0.94 and a beta of 2.24. GAP has a 12 month low of $16.99 and a 12 month high of $29.29.

GAP (NYSE:GAP - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.44 by $0.07. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.41 billion. GAP had a return on equity of 29.03% and a net margin of 5.40%. The business's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. As a group, research analysts forecast that GAP will post 2.02 EPS for the current fiscal year.

GAP Dividend Announcement

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

Insider Buying and Selling at GAP

In other news, insider Sarah Gilligan sold 29,813 shares of the company's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $20.34, for a total value of $606,396.42. Following the sale, the insider now owns 2,634 shares in the company, valued at $53,575.56. This represents a 91.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Breitbard sold 16,055 shares of the company's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $20.43, for a total value of $328,003.65. Following the completion of the sale, the chief executive officer now owns 123,985 shares in the company, valued at $2,533,013.55. The trade was a 11.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 228,880 shares of company stock worth $4,985,854. 31.00% of the stock is currently owned by insiders.

Institutional Trading of GAP

A number of hedge funds have recently modified their holdings of the stock. Strs Ohio purchased a new stake in shares of GAP in the first quarter worth about $856,000. Plato Investment Management Ltd acquired a new position in GAP in the 1st quarter worth about $121,000. United Services Automobile Association acquired a new position in GAP in the 1st quarter worth about $295,000. Amundi acquired a new position in GAP in the 1st quarter worth about $259,000. Finally, Dark Forest Capital Management LP acquired a new position in GAP in the 1st quarter worth about $4,517,000. 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.