GAP’s (GAP) “Market Perform” Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of GAP (NYSE:GAP) in a report issued on Friday morning,Benzinga reports. The firm currently has a $26.00 price objective on the stock.

A number of other research firms have also weighed in on GAP. Wells Fargo & Company raised their target price on GAP from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upgraded GAP from a “neutral” rating to an “overweight” rating and raised their target price for the company from $28.00 to $30.00 in a report on Monday, December 2nd. Guggenheim restated a “buy” rating and issued a $35.00 target price on shares of GAP in a report on Friday, November 22nd. Barclays raised their target price on GAP from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Evercore ISI raised their target price on GAP from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $29.27.

GAP Stock Performance

Shares of NYSE:GAP opened at $22.60 on Friday. The business has a 50 day moving average price of $23.48. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of 10.46, a P/E/G ratio of 0.94 and a beta of 2.36. The company has a current ratio of 1.54, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. GAP has a 52-week low of $18.72 and a 52-week high of $30.75.

GAP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 9th will be given a $0.165 dividend. This is an increase from GAP’s previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Wednesday, April 9th. GAP’s dividend payout ratio (DPR) is currently 30.56%.

Insiders Place Their Bets

In other GAP news, Director William Sydney Fisher sold 123,950 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $26.24, for a total value of $3,252,448.00. Following the completion of the sale, the director now directly owns 3,696,517 shares of the company’s stock, valued at $96,996,606.08. This trade represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder John J. Fisher sold 250,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $24.18, for a total value of $6,045,000.00. Following the completion of the sale, the insider now directly owns 1,000,752 shares of the company’s stock, valued at $24,198,183.36. This represents a 19.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 955,375 shares of company stock valued at $24,316,219 over the last ninety days. 31.00% of the stock is currently owned by insiders.

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.