GAP (NYSE:GAP) Price Target Raised to $33.00

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

A number of other equities research analysts have also issued reports on the company. The Goldman Sachs Group dropped their price target on GAP from $34.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Robert W. Baird dropped their target price on GAP from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Citigroup reiterated a "buy" rating and set a $33.00 price target (up previously from $22.00) on shares of GAP in a report on Friday, May 23rd. Morgan Stanley dropped their price objective on shares of GAP from $30.00 to $27.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, UBS Group lifted their target price on shares of GAP from $19.00 to $29.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, GAP currently has an average rating of "Moderate Buy" and an average price target of $28.80.

GAP Price Performance

Shares of NYSE:GAP traded down $0.34 during trading on Tuesday, reaching $27.90. The stock had a trading volume of 16,813,769 shares, compared to its average volume of 7,298,691. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.54. GAP has a 1-year low of $16.99 and a 1-year high of $29.43. The stock has a market cap of $10.51 billion, a PE ratio of 12.91, a PEG ratio of 0.94 and a beta of 2.24. The business has a fifty day moving average price of $22.43 and a 200-day moving average price of $22.91.

GAP (NYSE:GAP - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.08. GAP had a net margin of 5.40% and a return on equity of 29.03%. GAP's revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 earnings per share. On average, equities analysts forecast that GAP will post 2.02 earnings per share for the current fiscal year.

GAP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Investors of record on Wednesday, July 9th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Wednesday, July 9th. GAP's dividend payout ratio (DPR) is 29.86%.

Insiders Place Their Bets

In other news, CEO Mark Breitbard sold 51,385 shares of GAP stock in a transaction on Friday, May 16th. The shares were sold at an average price of $27.00, for a total value of $1,387,395.00. Following the transaction, the chief executive officer now directly owns 123,985 shares of the company's stock, valued at $3,347,595. The trade was a 29.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Elisabeth B. Donohue sold 3,539 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $21.04, for a total transaction of $74,460.56. Following the completion of the sale, the director now owns 4,000 shares of the company's stock, valued at approximately $84,160. This trade represents a 46.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 228,880 shares of company stock worth $4,985,854 over the last three months. Company insiders own 31.00% of the company's stock.

Institutional Investors Weigh In On GAP

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hexagon Capital Partners LLC purchased a new position in shares of GAP during the first quarter worth about $30,000. First Horizon Advisors Inc. purchased a new position in shares of GAP in the 1st quarter valued at approximately $75,000. Brooklyn Investment Group acquired a new position in shares of GAP in the first quarter valued at approximately $80,000. Deseret Mutual Benefit Administrators acquired a new position in shares of GAP in the first quarter valued at approximately $81,000. Finally, Covestor Ltd purchased a new stake in shares of GAP during the first quarter worth approximately $82,000. 58.81% of the stock is owned by hedge funds and other institutional investors.

GAP Company Profile

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.