GAP (NYSE:GAP) Given Market Perform Rating at Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of GAP (NYSE:GAP) in a research note released on Friday,Benzinga reports. The brokerage currently has a $26.00 target price on the stock.

Other research analysts have also issued reports about the stock. Citigroup restated a “buy” rating and set a $33.00 target price (up from $22.00) on shares of GAP in a research report on Friday, May 23rd. Barclays upped their target price on shares of GAP from $26.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday. Jefferies Financial Group restated a “hold” rating and set a $29.00 target price (up from $26.00) on shares of GAP in a research report on Wednesday, May 21st. The Goldman Sachs Group lowered their target price on GAP from $34.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. increased their target price on GAP from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, May 19th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, GAP has an average rating of “Moderate Buy” and a consensus target price of $28.47.

GAP Trading Down 19.8%

NYSE GAP opened at $22.42 on Friday. The stock has a market capitalization of $8.44 billion, a P/E ratio of 10.38, a P/E/G ratio of 0.94 and a beta of 2.24. GAP has a 52-week low of $16.99 and a 52-week high of $29.29. The firm has a 50-day moving average price of $22.44 and a 200 day moving average price of $22.91. The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 0.47.

GAP (NYSE:GAP) last issued its earnings results on Thursday, May 29th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.07. GAP had a net margin of 5.40% and a return on equity of 29.03%. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.41 billion. During the same period in the prior year, the business posted $0.41 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts expect that GAP will post 2.02 EPS for the current year.

GAP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 30th. Investors 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 2.94%. The ex-dividend date of this dividend is Wednesday, July 9th. GAP’s dividend payout ratio (DPR) is 29.86%.

Insider Buying and Selling

In other GAP news, insider Sarah Gilligan sold 29,813 shares of the firm’s stock in a transaction 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 transaction, the insider now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elisabeth B. Donohue sold 3,539 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $21.04, for a total transaction of $74,460.56. Following the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $84,160. This represents a 46.94% decrease in their ownership of the stock. 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 quarter. Company insiders own 31.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC acquired a new position in GAP during the 1st quarter worth $30,000. New York State Teachers Retirement System acquired a new position in shares of GAP in the 1st quarter valued at about $5,065,000. Oregon Public Employees Retirement Fund acquired a new position in shares of GAP in the 1st quarter valued at about $932,000. GAMMA Investing LLC acquired a new position in shares of GAP in the 1st quarter valued at about $96,000. Finally, Deseret Mutual Benefit Administrators acquired a new position in shares of GAP in the 1st quarter valued at about $81,000. 58.81% of the stock is owned by institutional investors and hedge funds.

GAP Company Profile

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.