Gap Inc. (NYSE:GPS) declared a quarterly dividend on Thursday, August 11th. Stockholders of record on Wednesday, October 5th will be given a dividend of 0.23 per share by the apparel retailer on Wednesday, October 26th. This represents a $0.92 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend is Monday, October 3rd.
Gap (NYSE:GPS) opened at 22.24 on Friday. The stock has a 50 day moving average price of $24.21 and a 200 day moving average price of $23.29. Gap has a 52-week low of $17.00 and a 52-week high of $30.49. The company has a market capitalization of $8.86 billion, a price-to-earnings ratio of 12.53 and a beta of 1.17.
Gap (NYSE:GPS) last issued its quarterly earnings data on Thursday, August 18th. The apparel retailer reported $0.60 EPS for the quarter, beating the consensus estimate of $0.59 by $0.01. The firm earned $3.85 billion during the quarter, compared to the consensus estimate of $3.79 billion. Gap had a net margin of 4.60% and a return on equity of 33.26%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 earnings per share. Equities research analysts forecast that Gap will post ($0.01) earnings per share for the current year.
GPS has been the subject of several recent analyst reports. Credit Suisse Group AG reaffirmed a “sell” rating and set a $21.00 price objective on shares of Gap in a research note on Sunday, June 5th. Buckingham Research reissued a “hold” rating and issued a $18.00 price target on shares of Gap in a research note on Saturday, June 4th. Stifel Nicolaus reissued a “hold” rating on shares of Gap in a research note on Saturday, June 4th. Jefferies Group reissued a “buy” rating on shares of Gap in a research note on Saturday, June 4th. Finally, FBR & Co reissued a “hold” rating and issued a $22.00 price target on shares of Gap in a research note on Saturday, June 4th. Seven equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $24.94.
A number of large investors have recently added to or reduced their stakes in GPS. BlackRock Institutional Trust Company N.A. boosted its stake in Gap by 1.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 6,451,773 shares of the apparel retailer’s stock valued at $136,907,000 after buying an additional 73,041 shares during the period. Franklin Resources Inc. boosted its stake in Gap by 7.2% in the second quarter. Franklin Resources Inc. now owns 5,615,692 shares of the apparel retailer’s stock valued at $119,165,000 after buying an additional 377,272 shares during the period. APG Asset Management N.V. boosted its stake in Gap by 12.9% in the second quarter. APG Asset Management N.V. now owns 2,900,960 shares of the apparel retailer’s stock valued at $61,558,000 after buying an additional 331,347 shares during the period. Levin Capital Strategies L.P. bought a new stake in Gap during the second quarter valued at about $53,595,000. Finally, Guggenheim Capital LLC boosted its stake in Gap by 75.6% in the second quarter. Guggenheim Capital LLC now owns 1,623,797 shares of the apparel retailer’s stock valued at $34,457,000 after buying an additional 698,831 shares during the period. 57.42% of the stock is owned by institutional investors.
The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.
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