StockNews.com Begins Coverage on GAP (NYSE:GPS)

StockNews.com initiated coverage on shares of GAP (NYSE:GPS) in a research note issued to investors on Monday. The firm issued a buy rating on the apparel retailer’s stock.

Several other research firms have also recently issued reports on GPS. Evercore ISI raised their target price on shares of GAP from $24.00 to $32.00 and gave the stock an outperform rating in a research report on Friday, May 31st. Bank of America raised shares of GAP from an underperform rating to a neutral rating and lifted their price target for the company from $18.50 to $25.00 in a research report on Wednesday, July 31st. Jefferies Financial Group boosted their target price on shares of GAP from $17.00 to $28.00 and gave the stock a hold rating in a research report on Friday, May 31st. BMO Capital Markets lifted their price target on shares of GAP from $18.00 to $23.00 and gave the stock a market perform rating in a research note on Friday, May 31st. Finally, Daiwa America upgraded shares of GAP to a moderate buy rating in a research note on Wednesday, June 5th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $27.08.

GAP Price Performance

The stock has a market capitalization of $9.21 billion, a P/E ratio of 13.64, a PEG ratio of 1.40 and a beta of 2.38. GAP has a twelve month low of $9.38 and a twelve month high of $30.75. The company has a current ratio of 1.50, a quick ratio of 0.80 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average price is $23.24 and its 200-day moving average price is $22.91.

GAP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Wednesday, October 9th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of ∞. The ex-dividend date of this dividend is Wednesday, October 9th. GAP’s payout ratio is currently 33.33%.

Insider Buying and Selling

In related news, Director Tracy Gardner sold 2,934 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $23.48, for a total value of $68,890.32. Following the completion of the sale, the director now owns 51,901 shares of the company’s stock, valued at $1,218,635.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 30.81% of the company’s stock.

Institutional Investors Weigh In On GAP

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in GAP by 25.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,157 shares of the apparel retailer’s stock valued at $52,000 after acquiring an additional 443 shares during the last quarter. Plato Investment Management Ltd raised its holdings in GAP by 37.2% during the 1st quarter. Plato Investment Management Ltd now owns 1,965 shares of the apparel retailer’s stock worth $54,000 after buying an additional 533 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in GAP during the 4th quarter worth about $73,000. First Horizon Advisors Inc. raised its holdings in GAP by 4,441.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 4,950 shares of the apparel retailer’s stock worth $118,000 after buying an additional 4,841 shares during the period. Finally, VitalStone Financial LLC acquired a new stake in GAP during the 4th quarter worth about $197,000. 58.81% of the stock is owned by institutional investors and hedge funds.

About GAP

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 adult apparel and accessories; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.