GAP (NYSE:GAP) Given New $28.00 Price Target at Wells Fargo & Company

GAP (NYSE:GAP) had its target price lowered by Wells Fargo & Company from $32.00 to $28.00 in a report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

GAP has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their price objective on shares of GAP from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Argus raised GAP to a “hold” rating in a research note on Thursday, September 19th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $26.00 target price on shares of GAP in a research report on Friday, October 11th.

GAP Price Performance

Shares of GAP stock traded up $0.19 on Wednesday, hitting $21.71. 877,014 shares of the company’s stock traded hands, compared to its average volume of 7,023,298. The firm’s fifty day moving average price is $21.22. GAP has a one year low of $13.09 and a one year high of $30.75. The company has a market cap of $8.17 billion, a P/E ratio of 10.64, a price-to-earnings-growth ratio of 1.23 and a beta of 2.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.49 and a quick ratio of 0.84.

GAP (NYSE:GAP) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.39 by $0.15. GAP had a net margin of 5.05% and a return on equity of 28.89%. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.61 billion. Equities research analysts anticipate that GAP will post 1.88 earnings per share for the current year.

GAP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Wednesday, October 9th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.60 annualized dividend and a dividend yield of 2.76%. GAP’s payout ratio is 29.70%.

Insider Buying and Selling

In other GAP news, CEO Horacio Barbeito sold 75,385 shares of GAP stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $20.00, for a total transaction of $1,507,700.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 31.00% of the stock is owned by corporate insiders.

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.