GAP (NYSE:GAP) Announces Quarterly Earnings Results

GAP (NYSE:GAP) announced its quarterly earnings data on Thursday. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01), FiscalAI reports. The firm had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.52 billion. GAP had a net margin of 5.31% and a return on equity of 22.98%.

GAP Price Performance

NYSE:GAP traded up $0.90 during trading hours on Thursday, reaching $24.95. 13,579,342 shares of the company traded hands, compared to its average volume of 7,730,696. The firm’s 50-day moving average is $24.24 and its 200-day moving average is $25.68. The stock has a market cap of $9.11 billion, a P/E ratio of 11.60, a P/E/G ratio of 1.36 and a beta of 2.11. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.75 and a quick ratio of 1.08. GAP has a 1-year low of $18.68 and a 1-year high of $29.36.

GAP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Wednesday, July 8th will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, July 8th. GAP’s dividend payout ratio is 32.56%.

Analyst Upgrades and Downgrades

GAP has been the topic of several recent analyst reports. BTIG Research dropped their target price on GAP from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. TD Cowen dropped their target price on GAP from $32.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Telsey Advisory Group boosted their target price on GAP from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Weiss Ratings raised shares of GAP from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 25th. Finally, JPMorgan Chase & Co. upped their price target on shares of GAP from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, March 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, GAP has a consensus rating of “Moderate Buy” and a consensus target price of $30.07.

Insider Activity at GAP

In other GAP news, insider Julie Gruber sold 5,302 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $27.00, for a total transaction of $143,154.00. Following the sale, the insider directly owned 58,414 shares of the company’s stock, valued at $1,577,178. This trade represents a 8.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sarah Gilligan sold 69,912 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $25.00, for a total transaction of $1,747,800.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 923,098 shares of company stock worth $22,648,158 over the last three months. Company insiders own 31.00% of the company’s stock.

Institutional Investors Weigh In On GAP

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its position in shares of GAP by 177.0% in the second quarter. EverSource Wealth Advisors LLC now owns 7,016 shares of the company’s stock worth $153,000 after acquiring an additional 4,483 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new position in GAP in the fourth quarter valued at $203,000. Amundi acquired a new position in GAP in the first quarter valued at $259,000. Brooklyn Investment Group acquired a new position in GAP in the fourth quarter valued at $312,000. Finally, Jump Financial LLC acquired a new position in GAP in the second quarter valued at $612,000. 58.81% of the stock is owned by institutional investors and hedge funds.

GAP Company Profile

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.