GAP (NYSE:GAP) Given New $31.00 Price Target at BTIG Research

GAP (NYSE:GAP) had its price objective increased by BTIG Research from $30.00 to $31.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently issued reports on GAP. Zacks Research upgraded GAP from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Barclays lowered GAP from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $24.00 to $19.00 in a research note on Friday, August 22nd. Citigroup raised their target price on GAP from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Robert W. Baird upped their price target on GAP from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday. Finally, JPMorgan Chase & Co. increased their price target on shares of GAP from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Friday. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, GAP presently has a consensus rating of “Moderate Buy” and an average target price of $27.43.

GAP Stock Performance

NYSE:GAP traded up $1.90 on Friday, reaching $24.96. 22,746,885 shares of the company’s stock were exchanged, compared to its average volume of 9,209,983. The firm has a market cap of $9.26 billion, a price-to-earnings ratio of 10.67, a P/E/G ratio of 2.70 and a beta of 2.17. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.68 and a quick ratio of 0.96. The stock has a fifty day simple moving average of $22.58 and a 200-day simple moving average of $22.49. GAP has a 52 week low of $16.99 and a 52 week high of $29.29.

GAP (NYSE:GAP) last announced its quarterly earnings results on Thursday, November 20th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.90 billion. GAP had a net margin of 5.86% and a return on equity of 27.04%. GAP’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 EPS. GAP has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that GAP will post 2.02 earnings per share for the current year.

GAP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 7th will be given a dividend of $0.165 per share. The ex-dividend date is Wednesday, January 7th. This represents a $0.66 annualized dividend and a yield of 2.6%. GAP’s payout ratio is presently 28.21%.

Insiders Place Their Bets

In other news, Director Robert J. Fisher sold 500,000 shares of the stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $22.90, for a total value of $11,450,000.00. Following the transaction, the director owned 2,829,502 shares of the company’s stock, valued at $64,795,595.80. This represents a 15.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William Sydney Fisher sold 243,064 shares of GAP stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $23.82, for a total transaction of $5,789,784.48. Following the sale, the director directly owned 3,453,453 shares of the company’s stock, valued at $82,261,250.46. This represents a 6.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 943,064 shares of company stock worth $22,011,784 in the last three months. Insiders own 30.56% of the company’s stock.

Institutional Investors Weigh In On GAP

Several hedge funds have recently added to or reduced their stakes in GAP. Dodge & Cox purchased a new position in shares of GAP in the 1st quarter worth about $592,222,000. Ameriprise Financial Inc. raised its holdings in shares of GAP by 4.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,588,800 shares of the company’s stock valued at $98,154,000 after buying an additional 180,991 shares in the last quarter. Geode Capital Management LLC lifted its position in GAP by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 4,166,545 shares of the company’s stock worth $91,399,000 after buying an additional 151,297 shares during the last quarter. LSV Asset Management boosted its stake in GAP by 4.9% in the third quarter. LSV Asset Management now owns 3,341,701 shares of the company’s stock worth $71,479,000 after buying an additional 157,224 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in GAP by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 2,899,563 shares of the company’s stock worth $63,239,000 after buying an additional 145,427 shares in the last quarter. Institutional investors own 58.81% of the company’s stock.

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.