The Gap, Inc. (NYSE:GPS – Get Rating) stock price rose 6.2% on Tuesday after the company announced a dividend. The stock has traded as high as $11.36 and was last traded at $11.36. About 206,739 shares were traded during the session, down 97% from the average daily volume of 6,784,083 shares. The stock had previously closed at $10.70. The newly announced dividend will be paid on Wednesday October 26th. Shareholders of record on Wednesday, October 5 will receive a dividend of $0.15. That equates to an annualized dividend of $0.60 and a dividend yield of 5.22%. GAP’s Dividend Payout Ratio (DPR) is currently -285.71%.
Wall Street analysts forecast growth
GPS has been the subject of several research analyst reports. TheStreet lowered GAP from a “c” rating to a “d+” rating in a report on Thursday 26 May. Morgan Stanley lowered its price target on GAP to $7.50 from $8.00 and listed the company as “underweight” in a research report on Tuesday, July 12. Citigroup lowered its price target on GAP from $8.00 to $7.00 in a research note on Friday, May 27. Barclays lowered its price target on GAP to $6.00 from $7.00 and gave the company an underweight rating in a report Tuesday, July 12. Finally, Cowen lowered its price target on GAP to $12.00 from $16.00 in a report on Tuesday, May 31. Seven analysts have given a sell rating to the stock, twelve have given a hold rating and one have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.54.
GAP stock increased by 7.5%
The company has a market cap of $4.23 billion, a price-to-earnings ratio of -55.05 and a beta of 1.75. The company has a current ratio of 1.44, a quick ratio of 0.53 and a debt-to-equity ratio of 0.75. The company has a 50-day moving average price of $9.25 and a 200-day moving average price of $12.19.
GAP (NYSE:GPS – Get Rating) last issued its quarterly earnings results on Thursday, May 26th. The apparel retailer reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.33). GAP had a negative net margin of 0.45% and a positive return on equity of 7.43%. The company had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.49 billion. In the same quarter last year, the company posted $0.48 per share. The company’s revenue fell 12.9% year over year. Sell-side analysts expect The Gap, Inc. to post -0.05 EPS for the current fiscal year.
Insider transactions at GAP
In other GAP news, CEO Mary Beth Laughton sold 6,387 shares of the stock in a transaction on Wednesday, August 10th. The shares sold at an average price of $10.07 for a total value of $64,317.09. Following the transaction, the Chief Executive Officer now directly owns 31,561 shares of the Company, valued at approximately $317,819.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed at this hyperlink. Company insiders own 44.19% of the company’s shares.
Institutional Trading by GAP
A number of hedge funds have recently added to or reduced their holdings in GPS. Dodge & Cox increased its position in GAP shares by 0.6% in the second quarter. Dodge & Cox now owns 38,608,626 shares of the apparel retailer, valued at $318,135,000, after purchasing an additional 247,148 shares last quarter. Geode Capital Management LLC increased its stake in GAP by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 3,858,043 shares of the apparel retailer, valued at $67,991,000, having purchased an additional 104,716 shares during this period. Bank of New York Mellon Corp increased its holdings of GAP shares by 15.3% in the first quarter. Bank of New York Mellon Corp now owns 3,138,643 shares of the apparel retailer, valued at $44,192,000, after buying another 415,813 shares last quarter. BNP Paribas Arbitrage SA increased its holding in GAP shares by 214.0% during the second quarter. BNP Paribas Arbitrage SA now owns 1,366,694 shares of the apparel retailer, valued at $11,262,000, after buying an additional 931,496 shares last quarter. Finally, Rhumbline Advisers increased its position in GAP by 9.4% in the second quarter. Rhumbline Advisers now owns 586,313 shares of the apparel retailer, valued at $4,831,000, after purchasing an additional 50,534 shares during the period. Institutional investors and hedge funds own 58.23% of the company’s shares.
The Gap, Inc operates as an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Old Navy, Gap, Banana Republic and Athleta brands. Its products include denim, t-shirts, fleece and khakis; glasses, jewellery, shoes, handbags and fragrances; and fitness and lifestyle products for use in yoga, exercise, sports, travel and everyday activities for women and girls.
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