KeyCorp Reiterates $35.00 Price Target for Gap, Inc. (The) (GPS)

KeyCorp set a $35.00 price target on Gap, Inc. (The) (NYSE:GPS) in a research note published on Thursday morning. The brokerage currently has a buy rating on the apparel retailer’s stock.

A number of other brokerages have also recently issued reports on GPS. SunTrust Banks, Inc. set a $27.00 target price on Gap, Inc. (The) and gave the stock a hold rating in a report on Thursday. Buckingham Research lifted their target price on Gap, Inc. (The) from $25.00 to $28.00 and gave the stock a neutral rating in a report on Friday. Nomura lifted their target price on Gap, Inc. (The) from $25.00 to $28.00 and gave the stock a neutral rating in a report on Friday. Barclays PLC lifted their target price on Gap, Inc. (The) from $32.00 to $34.00 and gave the stock an overweight rating in a report on Friday. Finally, Robert W. Baird set a $28.00 target price on Gap, Inc. (The) and gave the stock a hold rating in a report on Friday. Four analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and seven have issued a buy rating to the stock. Gap, Inc. (The) currently has a consensus rating of Hold and a consensus price target of $27.51.

Gap, Inc. (GPS) traded up $1.92 on Thursday, hitting $29.40. The stock had a trading volume of 17,814,792 shares, compared to its average volume of 5,237,307. Gap, Inc. has a 12 month low of $21.02 and a 12 month high of $30.14. The company has a quick ratio of 0.92, a current ratio of 1.77 and a debt-to-equity ratio of 0.42. The company has a market cap of $11,529.47, a P/E ratio of 14.48, a PEG ratio of 1.78 and a beta of 0.86.

Gap, Inc. (The) (NYSE:GPS) last posted its quarterly earnings data on Thursday, November 16th. The apparel retailer reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. Gap, Inc. (The) had a return on equity of 27.76% and a net margin of 5.57%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the previous year, the business earned $0.60 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. research analysts expect that Gap, Inc. will post 2.08 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 3rd will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, January 2nd. This represents a $0.92 annualized dividend and a dividend yield of 3.13%. Gap, Inc. (The)’s dividend payout ratio is presently 42.40%.

In related news, EVP Paul Joseph Chapman sold 4,898 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $22.82, for a total transaction of $111,772.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeff Kirwan sold 1,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $29.38, for a total value of $29,380.00. Following the transaction, the chief executive officer now directly owns 25,268 shares of the company’s stock, valued at approximately $742,373.84. The disclosure for this sale can be found here. Insiders have sold a total of 676,682 shares of company stock valued at $18,906,180 in the last three months. 27.30% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of GPS. FMR LLC increased its stake in Gap, Inc. (The) by 91.3% during the first quarter. FMR LLC now owns 161,761 shares of the apparel retailer’s stock valued at $3,929,000 after acquiring an additional 77,185 shares during the period. Xact Kapitalforvaltning AB increased its stake in Gap, Inc. (The) by 8.0% during the second quarter. Xact Kapitalforvaltning AB now owns 29,517 shares of the apparel retailer’s stock valued at $649,000 after acquiring an additional 2,186 shares during the period. State of Alaska Department of Revenue increased its stake in Gap, Inc. (The) by 2.1% during the second quarter. State of Alaska Department of Revenue now owns 18,320 shares of the apparel retailer’s stock valued at $402,000 after acquiring an additional 380 shares during the period. Chevy Chase Trust Holdings Inc. increased its stake in Gap, Inc. (The) by 0.3% during the second quarter. Chevy Chase Trust Holdings Inc. now owns 190,910 shares of the apparel retailer’s stock valued at $4,198,000 after acquiring an additional 509 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its stake in Gap, Inc. (The) by 523.3% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 38,677 shares of the apparel retailer’s stock valued at $851,000 after acquiring an additional 32,472 shares during the period. Hedge funds and other institutional investors own 56.78% of the company’s stock.

About Gap, Inc. (The)

The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.

Analyst Recommendations for Gap, Inc. (The) (NYSE:GPS)

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