GAP (NYSE:GAP) Price Target Raised to $34.00

by · The Cerbat Gem

GAP (NYSE:GAPFree Report) had its target price raised by Telsey Advisory Group from $32.00 to $34.00 in a report released on Monday morning, Marketbeat Ratings reports. They currently have an outperform rating on the stock.

Other research analysts have also recently issued reports about the company. Guggenheim started coverage on GAP in a report on Tuesday, December 9th. They issued a “neutral” rating on the stock. Barclays restated an “overweight” rating on shares of GAP in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of GAP in a research note on Monday, December 29th. Wells Fargo & Company set a $30.00 price target on shares of GAP and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Finally, Argus raised GAP to a “strong-buy” rating in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, GAP currently has an average rating of “Moderate Buy” and an average price target of $30.54.

Get Our Latest Stock Report on GAP

GAP Price Performance

GAP stock opened at $27.81 on Monday. The firm has a market cap of $10.34 billion, a P/E ratio of 12.42, a P/E/G ratio of 2.80 and a beta of 2.29. The firm’s fifty day moving average is $27.31 and its 200 day moving average is $24.89. GAP has a 52 week low of $16.99 and a 52 week high of $29.36. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.72.

GAP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 8th will be issued a $0.175 dividend. This is a boost from GAP’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, April 8th. This represents a $0.70 annualized dividend and a dividend yield of 2.5%. GAP’s payout ratio is presently 29.46%.

Insider Buying and Selling

In related news, insider Julie Gruber sold 30,000 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $28.00, for a total value of $840,000.00. Following the completion of the sale, the insider owned 37,395 shares of the company’s stock, valued at approximately $1,047,060. This trade represents a 44.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder John J. Fisher sold 3,971 shares of GAP stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $27.04, for a total value of $107,375.84. Following the transaction, the insider owned 746,781 shares in the company, valued at approximately $20,192,958.24. This represents a 0.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 133,971 shares of company stock valued at $3,629,264. Corporate insiders own 30.56% of the company’s stock.

Institutional Trading of GAP

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. LSV Asset Management boosted its holdings in GAP by 101.0% in the second quarter. LSV Asset Management now owns 3,184,477 shares of the company’s stock valued at $69,453,000 after purchasing an additional 1,600,041 shares during the period. Ameriprise Financial Inc. raised its position in GAP by 42.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,407,809 shares of the company’s stock valued at $96,134,000 after purchasing an additional 1,318,322 shares during the last quarter. Miller Howard Investments Inc. NY purchased a new stake in shares of GAP in the fourth quarter valued at about $20,561,000. Jump Financial LLC increased its position in GAP by 2,197.8% in the 3rd quarter. Jump Financial LLC now owns 645,150 shares of the company’s stock valued at $13,800,000 after acquiring an additional 617,073 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in GAP by 13.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,195,934 shares of the company’s stock valued at $81,816,000 after acquiring an additional 368,191 shares during the last quarter. Hedge funds and other institutional investors own 58.81% of the company’s stock.

GAP Company Profile

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Gap Inc is a global specialty retailer renowned for its portfolio of apparel and accessories brands, including Gap, Banana Republic, Old Navy and Athleta. The company designs, sources and markets clothing across a broad price range and style spectrum, catering to men, women and children. Its offerings extend from everyday wardrobe essentials such as denim, tees and outerwear to performance and lifestyle pieces, reflecting each brand’s distinct identity and price point.

Founded in San Francisco in 1969 by Donald and Doris Fisher, Gap Inc has grown into one of the world’s largest apparel companies.

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