Gap’s (NYSE:GPS) same store sales decreased by 4% during the month of September. The company missed analysts’ estimates of a 3.6% year-over-year decline in sales. Gap’s stock fell by 6.3% in the first full-day of trading following the report.
GPS has been the subject of several research reports. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Gap in a research note on Saturday, July 9th. Jefferies Group reaffirmed a “buy” rating on shares of Gap in a research note on Saturday, July 9th. Vetr cut Gap from a “strong-buy” rating to a “sell” rating and set a $25.20 target price for the company. in a research note on Monday. RBC Capital Markets set a $23.00 target price on Gap and gave the company a “hold” rating in a research note on Tuesday, September 13th. Finally, Wedbush raised their target price on Gap from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, August 19th. Six investment analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $25.17.
Shares of Gap (NYSE:GPS) opened at 26.42 on Tuesday. The firm has a market capitalization of $10.53 billion, a PE ratio of 14.88 and a beta of 1.28. Gap has a 52 week low of $17.00 and a 52 week high of $30.49. The company’s 50 day moving average price is $23.86 and its 200-day moving average price is $22.94.
Gap (NYSE:GPS) last issued its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.01. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.79 billion. Gap had a return on equity of 33.26% and a net margin of 4.60%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 earnings per share. On average, equities research analysts expect that Gap will post ($0.01) EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date is Monday, October 3rd. Gap’s dividend payout ratio is currently 51.98%.
A number of large investors have recently modified their holdings of GPS. Legal & General Group Plc increased its stake in shares of Gap by 4.2% in the first quarter. Legal & General Group Plc now owns 1,119,779 shares of the apparel retailer’s stock worth $32,922,000 after buying an additional 45,600 shares in the last quarter. Candriam Luxembourg S.C.A. increased its stake in shares of Gap by 233.9% in the second quarter. Candriam Luxembourg S.C.A. now owns 570,237 shares of the apparel retailer’s stock worth $12,101,000 after buying an additional 399,449 shares in the last quarter. PGGM Investments increased its stake in shares of Gap by 79.7% in the second quarter. PGGM Investments now owns 1,695,205 shares of the apparel retailer’s stock worth $35,972,000 after buying an additional 751,688 shares in the last quarter. Babson Capital Management LLC increased its stake in shares of Gap by 200.8% in the first quarter. Babson Capital Management LLC now owns 75,195 shares of the apparel retailer’s stock worth $2,211,000 after buying an additional 50,200 shares in the last quarter. Finally, Beddow Capital Management Inc. acquired a new stake in shares of Gap during the first quarter worth $226,000. 57.42% of the stock is currently owned by institutional investors and hedge funds.
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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