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

StockNews.com began coverage on shares of GAP (NYSE:GPS) in a research note published on Monday morning. The brokerage issued a buy rating on the apparel retailer’s stock.

Other analysts also recently issued reports about the company. Telsey Advisory Group increased their price objective on GAP from $22.00 to $29.00 and gave the stock a market perform rating in a research note on Friday, May 31st. Bank of America raised GAP from an underperform rating to a neutral rating and increased their price target for the company from $18.50 to $25.00 in a research report on Wednesday, July 31st. BMO Capital Markets increased their price target on GAP from $18.00 to $23.00 and gave the company a market perform rating in a research report on Friday, May 31st. Evercore ISI increased their price target on GAP from $24.00 to $32.00 and gave the company an outperform rating in a research report on Friday, May 31st. Finally, TD Cowen raised GAP from a hold rating to a buy rating and increased their price target for the company from $28.00 to $30.00 in a research report on Tuesday, June 25th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target 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 52 week low of $9.38 and a 52 week high of $30.75. The business has a 50 day moving average of $23.24 and a 200 day moving average of $22.91. The company has a current ratio of 1.50, a quick ratio of 0.80 and a debt-to-equity ratio of 0.55.

GAP Announces Dividend

The firm 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 dividend payout ratio (DPR) is presently 33.33%.

Insider Buying and Selling at GAP

In other GAP news, Director Tracy Gardner sold 2,934 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $23.48, for a total transaction of $68,890.32. Following the sale, the director now owns 51,901 shares in the company, valued at $1,218,635.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 30.81% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Hennessy Advisors Inc. grew its position in shares of GAP by 14.1% during the 1st quarter. Hennessy Advisors Inc. now owns 2,305,600 shares of the apparel retailer’s stock valued at $63,519,000 after purchasing an additional 285,000 shares in the last quarter. SG Americas Securities LLC bought a new stake in GAP during the second quarter valued at $5,643,000. GAMMA Investing LLC grew its position in GAP by 25.8% during the second quarter. GAMMA Investing LLC now owns 2,157 shares of the apparel retailer’s stock worth $52,000 after buying an additional 443 shares in the last quarter. First Horizon Advisors Inc. increased its stake in GAP by 4,441.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 4,950 shares of the apparel retailer’s stock worth $118,000 after acquiring an additional 4,841 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of GAP by 92.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 59,478 shares of the apparel retailer’s stock valued at $1,421,000 after acquiring an additional 28,613 shares in the last quarter. Hedge funds and other institutional investors own 58.81% of the company’s stock.

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.