The Gap, Inc. (NYSE:GAP - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday after the company announced a dividend. The company traded as high as $28.08 and last traded at $27.98, with a volume of 6535908 shares traded. The stock had previously closed at $27.39.
The newly announced 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. This represents a $0.66 annualized dividend and a yield of 2.32%. The ex-dividend date is Wednesday, July 9th. GAP's payout ratio is 29.86%.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the stock. The Goldman Sachs Group cut their target price on shares of GAP from $34.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $26.00 target price on shares of GAP in a report on Friday. Barclays lowered their target price on GAP from $33.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, May 12th. JPMorgan Chase & Co. lifted their target price on shares of GAP from $25.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Finally, Wells Fargo & Company downgraded shares of GAP from an "overweight" rating to an "equal weight" rating and cut their target price for the stock 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 data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.33.
Check Out Our Latest Research Report on GAP
GAP Stock Performance
The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average of $21.81 and a 200 day moving average of $22.75. The company has a market capitalization of $10.71 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 0.94 and a beta of 2.24.
GAP (NYSE:GAP - Get Free Report) last posted its quarterly earnings data on Thursday, March 6th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.18. GAP had a net margin of 5.40% and a return on equity of 29.03%. The company had revenue of $4.15 billion during the quarter, compared to analysts' expectations of $4.07 billion. As a group, analysts predict that The Gap, Inc. will post 2.02 EPS for the current year.
Insider Activity
In other news, insider Sarah Gilligan sold 29,813 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $20.34, for a total transaction of $606,396.42. Following the completion of the sale, the insider now owns 2,634 shares of the company's stock, valued at $53,575.56. This trade represents a 91.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark Breitbard sold 16,055 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $20.43, for a total transaction of $328,003.65. Following the sale, the chief executive officer now directly owns 123,985 shares of the company's stock, valued at approximately $2,533,013.55. This trade represents a 11.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 228,880 shares of company stock valued at $4,985,854 in the last ninety days. 30.56% of the stock is owned by company insiders.
Hedge Funds Weigh In On GAP
Institutional investors have recently made changes to their positions in the stock. Hexagon Capital Partners LLC acquired a new position in shares of GAP during the first quarter valued at about $30,000. New York State Teachers Retirement System acquired a new stake in GAP in the first quarter valued at approximately $5,065,000. Oregon Public Employees Retirement Fund acquired a new stake in GAP in the first quarter valued at approximately $932,000. GAMMA Investing LLC acquired a new stake in GAP in the first quarter valued at approximately $96,000. Finally, Deseret Mutual Benefit Administrators acquired a new stake in GAP in the first quarter valued at approximately $81,000. Institutional investors and hedge funds own 58.81% of the company's stock.
About GAP
(
Get Free Report)
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.
See Also
Before you consider GAP, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and GAP wasn't on the list.
While GAP currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
