Published: Sat, November 18, 2017
World | By Paul Elliott

Gap Inc (NYSE:GPS) Sees Significantly Higher Trading Volume

Gap Inc (NYSE:GPS) Sees Significantly Higher Trading Volume

KeyCorp set a $35.00 price objective on Gap, Inc. (The) (NYSE:GPS) in a research report released on Monday, October 30th. The stock of Gap Inc (NYSE:GPS) earned "Neutral" rating by Credit Suisse on Tuesday, September 19. Moreover, Sumitomo Mitsui Trust Hldg Inc has 0.02% invested in Gap Inc (NYSE:GPS) for 726,562 shares.

The stock of Gap Inc (NYSE:GPS) hit a new 52-week high and has $31.21 target or 5.00% above today's $29.72 share price.

Shares of Gap, Inc. State Treasurer State of MI grew its stake in shares of Gap, Inc. (The) and gave the stock a hold rating in a research report on Tuesday, August 15th. Ffcm LLC lifted its position in shares of Gap, Inc. UBS maintained the stock with "Sell" rating in Friday, August 18 report. (The) from a "hold" rating to a "buy" rating and set a $27.00 target price on the stock in a report on Tuesday, August 8th.

"GPS's President & CEO, GAP Kirwan Jeff Sell 1000 shares of the company at a price of $26.11 on 2017-11-01". According to their observations and findings, the stock could provide a high EPS of $0.63/share and a low EPS of $0.53/share. (NYSE GPS) traded up $1.92 during trading on Thursday, reaching $29.40.

The company now expects to close about 30 company-operated stores, net of openings and repositions. Geode Capital Mngmt Ltd Liability Company reported 0.03% of its portfolio in Gap Inc (NYSE:GPS). The company has a debt-to-equity ratio of 0.42, a current ratio of 1.77 and a quick ratio of 0.92.

Gap Inc.'s comparable sales for the third quarter of fiscal year 2017 were up 3 percent versus a 1 percent decrease last year, which excluded an estimated negative impact from the Fishkill distribution center fire of approximately 2 percentage points. 26 analysts on average projected earnings of $0.51 per share for the current quarter. Gap Inc (NYSE:GPS) has risen 28.94% since November 17, 2016 and is uptrending. The business had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.76 billion.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st.

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The Gap, Inc. (NYSE:GPS) gross margin percentage stands at 37.2% while its operating margin for the past trailing twelve month is 9 percent and its overall profit margin (ttm) is 5.4 Percent. The ex-dividend date is Tuesday, January 2nd. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Investment Corp reported 0.13% stake. Gap, Inc. (The)'s dividend payout ratio is now 43.81%. Following the sale, the director now directly owns 12,237,873 shares in the company, valued at $342,538,065.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

In other news, insider Andi Owen sold 38,278 shares of the stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $27.99, for a total transaction of $18,665,103.51. The short sellers then promise to replace the stock in the future and makes dividend payments out of their own pockets to cover the dividend income that is no longer exists on the original, now borrowed and sold, shares. The disclosure for this sale can be found here. During the same period a year ago, the firm earned $0.60 EPS.

Hedge funds and other institutional investors have recently modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Gap, Inc. Rnc Capital Management Llc acquired 44,610 shares as Total Sa (TOT)'s stock rose 7.42%. Xact Kapitalforvaltning AB raised its holdings in Gap, Inc. State of Alaska Department of Revenue grew its stake in shares of Gap, Inc. (The) by 2.9% in the fourth quarter.

For Q3, comparable sales rose 3%, swinging from a 1% decline in the same quarter previous year; that includes a negative impact of about 2 points from the Fishkill distribution center fire. The apparel retailer reported $0.58 EPS for the quarter, topping the consensus estimate of $0.55 by $0.03. The value in dollars went from $57,000 to $105,379,000 a change of $105,322,000 quarter over quarter. BlackRock Fund Advisors now owns 3,834,472 shares of the apparel retailer's stock worth $85,279,000 after buying an additional 130,985 shares during the period. Institutional investors and hedge funds own 56.78% of the company's stock. By brand: Old Navy Global +4% (vs. last year's +4%); Gap Global +1% (vs. prior -4%); Banana Republic Global -1% (vs. prior -6%).

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